TRELLEBORG, Sweden (July 20, 2012)—Trelleborg Wheel Systems S.p.A., a unit of Sweden's Trelleborg A.B., posted double-digit gains in operating earnings for the quarter and six months ended June 30 on improved sales in both periods.
Operating income for the quarter jumped 23.1 percent to $19 million on 4.6-percent higher sales of $150.3 million. For the six-month period, operating earnings were up 11.5 percent to $41.3 million on 11.5-percent better sales of $311.4 million.
Trelleborg said “underlying demand” for OE customers was stable, with demand in North America growing.
The company attributed the earnings improvements to a favorable product mix and high efficiency.
As a corporation, Trelleborg reported 34.4 percent higher operating earnings in the second quarter on 2.2-percent better sales. Net income shot up 64.4 percent.
The results are for the firm's continuing operations; i.e., Trelleborg's automotive business segment, which is now part of a joint venture with Germany's Freudenberg Group, are no longer reported as part of the corporation's accounts.
In the first half of the year, sales grew 5 percent and operating profit was up 24 percent.