TRELLEBORG, Sweden—Trelleborg A.B. has seen strong growth in sales and profitability in the first quarter of 2022 and remains "cautiously confident" over the short-term outlook.
Earnings (EBITDA) for the three months to end of March were up 21 percent year-on-year at $152 million, on 22 percent higher sales of $711 million, the Swedish group said April 27.
Earnings (EBIT), excluding items affecting comparability rose 25 percent to $122 million, while operating margin grew to 17.3 percent compared to 16.9 percent reported last year.
"Demand was healthy in most industries, and the order book was at its highest level to date at the end of the quarter," said CEO and President Peter Nilsson.
Capacity utilization, he said, was high in manufacturing facilities, generating good efficiency.
However, Nilsson said the geopolitical situation in Europe added to challenges related to raw materials supplies and freight but had "only a limited financial impact during the quarter."
"We have managed to balance the rising cost inflation well so far using our own price adjustments and efficiency improvements," he added.
During the first quarter, Trelleborg Industrial Solutions, which supplies polymer-based solutions in industrial applications and infrastructure projects, saw sales grow 29 percent year-on-year to $335 million.