Trelleborg reports growth in sales and profits for the quarter

Trelleborg AB reported its “best-to-date” financial results for the third quarter of 2021, amid a sharp increase in sales and profits from last year.

The Swedish group's profit rose 25% to SEK 1.2 billion (EUR 120 million) on the back of a 15% increase in sales to SEK 8.2 billion.

According to Group President and CEO Peter Nilsson, demand in the third quarter of the year remained stable in most regions and market segments, despite the challenging business environment and challenges such as continued increases in raw material prices, supply constraints and increased energy costs.

Trelleborg Industrial Solutions (TIS) revenue increased 19% year-on-year to SEK 326 million. Sales for the quarter were up 9% to SEK 2.7 billion. Trelleborg Sealing Solutions also reported increased sales across all market segments and regions. Its profit rose 59% to SEK 720 million and sales rose 23% to SEK 3 billion.

In contrast, the tire business of Trelleborg Wheel Systems (TWS) declined 13% to SEK 238 million, mainly due to rising raw material, transportation and energy costs. TWS's sales rose 14% to SEK 2.3 billion, with the company recording significant growth across all tire categories and markets in most geographic regions.