Annual report 2011 - Trelleborg

KEY FIGURES
2011 2010
Net sales, sek m 9,360 8,819
Share of Group net sales, % 32 32
EBITDA, sek m 814 908
EBITDA, % 8.6 10.1
Operating profit, sek m 510 524
Operating profit, including items affecting comparability, sek m 417 426
Operating margin (ROS), % 5.3 5.8
Capital employed, sek m 3,922 3,739
Return on capital employed (ROCE), % 13.0 12.9
Capital expenditures, sek m 374 284
Operating cash flow, sek m 242 642
Operating cash flow/Operating profit, % 47 122
Number of employees at year-end, including insourced staff and temporary employees
Excluding items affecting comparability (unless otherwise stated)
7,023 6,880
the joint venture in antivibration and
submitted applications for anti-trust
approval to the relevant competition
authorities.
Trelleborg carried out organizational
changes in order to further strengthen
and focus the Group. Trelleborg Automotive
will be focused on antivibration
solutions. Trelleborg Automotive’s other
operations – polymer boots for drive
shafts and steering applications as
well as noise-damping solutions for
brake systems – will be strengthened
by integrating them into Trelleborg
Engineered Systems and Trelleborg
Sealing Solutions, respectively.
Net sales and ROS*
SEK M ROS, %
14,000
10,000
6,000
2,000
-6
2007 2008 2009 2010 2011
Net sales, SEK M
*Excluding items affecting comparability
ROS, %
14
10
6
2
0
-2
Operating profit* and ROCE*
SEK M ROCE, %
1,200
800
400
0
-400
-800
-8
2007 2008 2009 2010 2011
Operating profit, SEK M
*Excluding items affecting comparability
Jim Law, Trelleborg Automotive’s President,
and Lennart Johansson have
been appointed as the Trelleborg
Group’s representatives on the management
board of the joint venture of
antivibration solutions for light and
heavy vehicles that is planned between
Trelleborg and Freudenberg.
Divested an operation for light-vehicle
components.
Market position, no. 1-3
Vibration damping for the
automotive industry
Brake shims
Vehicle boots
EU NAFTA Globally
Net sales and ROS* Operating profit* and ROCE* Operating cash flow
8
4
0
ROCE, %
12
-4
Operating cash flow
SEK M
700
600
500
400
300
200
100
0
2007 2008 2009 2010 2011
Operating cash flow, SEK M, continuing operations.
BUSINESS AREA – TRELLEBORG AUTOMOTIVE
3 questions
to Jim Law
Business Area President
What were you most pleased with in
2011?
We experienced robust expansion in sales in
such countries as China, India, South Korea
and Brazil and we established a firm foothold
in Russia. I am also pleased that we have
confirmed our competitiveness by securing
several major orders for new light vehicles
platforms.
What are the principal opportunities
and risks you currently face in your
business environment?
In terms of volume, the global automotive
market appears unstable against the backdrop
of the debt crisis in the west. We are
preparing to be able to rapidly take action,
such as adapting capacity and reducing
costs. Opportunities include the strengths
that can be gained by parts of our business
through the partnership with Freudenberg
and continuing our success in emerging
markets.
What are the key strategic priorities
for your business area over the next
few years?
We will be the most competitive supplier in
our area of expertise with respect to innovativeness,
global presence and cost base.
We aim to strengthen our positions, which
form the basis for a sustained
improvement in profitability.
Annual Report 2011 Trelleborg AB
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