TRELLEBORG, Sweden—Trelleborg A.B. has reported flat full-year sales and earnings for 2024, despite strong gains in the final quarter.
Full-year earnings (EBITDA) came in at $556 million (SEK 6.1 billion), with sales at $3.1 billion, the Swedish group reported Jan. 29.
In the fourth quarter, however, the group saw earnings rise by 11.4 percent year-on-year to $145.8 million, with sales up 4.3 percent to $793 million.
The group achieved organic sales growth in the quarter "despite continued mixed market conditions and declining volumes in several markets," said CEO and President Peter Nilsson.
Fourth-quarter sales were "the highest ever for a single quarter," while operating profit and margin were "the highest to date for a fourth quarter," Nilsson said.
He highlighted Trelleborg's efforts to become "a less cyclical company" focused on "carefully selected applications and market segments."
"Profitability is growing steadily toward our financial targets, despite facing market headwinds over the past year," he added.
On acquisitions, Nilsson said the group was "reinforcing" its strategy, adding that pace of capital expenditures has "never been higher and we look to the future with confidence."
During the fourth quarter, Trelleborg completed several acquisitions, including aerospace thermoplastics supplier Magee and Robertsdale, Ala.-based CRC Distribution, a distributor of polymer sealing solutions.