TRELLEBORG, Sweden—Trelleborg Wheel Systems reported double-digit sales and earnings growth for the quarter and fiscal year ended Dec. 31 on strong business in both the original equipment and replacement sectors.
Trelleborg Wheel Systems, the Tivoli, Italy-based industrial and agricultural tire and wheel subsidiary of Sweden's Trelleborg A.B., reported higher sales in the second half of the year versus the first six months.
Despite the strong growth in all tire categories and most geographies, Trelleborg said the segment's profitability was hampered by "continued price rises for raw materials and freight and particularly by the accelerating energy costs."
For the year, Trelleborg Wheel reported 15.6 percent higher pre-tax operating income (EBIT) of $141.5 million on 15 percent higher sales of $1.17 billion. In the fourth quarter, EBIT rose 22.2 percent to $32 million on 26 percent higher sales of $321 million.