TRELLEBORG, Sweden—Trelleborg A.B. has signaled that 2016 is likely to bring “major structural changes” for the group, as the company continues to strengthen its positions in various markets.
“We are maintaining preparedness to adjust our various businesses to fluctuating demand,” said President and CEO Peter Nilsson, while announcing the group's full year results.
Trelleborg achieved “record results” despite “challenging market conditions in several segments,” with its highest ever recorded operation profit for a fourth quarter, he said.
Net sales for the full year 2015 increased 10 percent to $2.94 billion, although organic sales declined by 2 percent. Operating income rose 7 percent to $380.2 million.
“With a relatively weak market situation in several segments and raw material prices that continued to decline, with a subsequent negative effect on our organic growth, the year proved challenging in terms of growth,” Nilsson added.
The group envisions continuing development with a focus on selected segments and improved positions, he said.
During fiscal 2015, Trelleborg completed eight acquisitions, established a plant for agricultural tires in North America and struck a deal to acquire the Czech producer CGS Holding—parent of the Mitas tire business—which will be “well-positioned” within agricultural and specialty tires, as well as engineered polymer solutions, the executive said.