Annual report 2011 - Trelleborg

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VISION, BUSINESS CONCEPT, STRATEGY INNOVATIVE CUSTOMER SOLUTIONS Innovation is one of Trelleborg’s core values and a cornerstone of the Group’s growth strategy. Innovation programs are concentrated on developing long-term, value-generating solutions and applications in close cooperation with customers. Innovation activities not only encompass products and functions, but also processes, applications and services among customers and users. Through innovative customer solutions, Trelleborg is growing together with its customers. Development in cooperation with customers The purpose of Trelleborg’s innovative expertise is to act as a resource enabling customers to speed up development of competitive solutions for their own customers, users and consumers – to take the next step. Trelleborg offers world-class technology, materials expertise, technical resources, innovation and service. The offering satisfi es a broad spectrum of industrial customers’ needs to seal, damp and protect in demanding environments. Research and development is conducted at three levels. The fi rst level comprises fundamental physical and chemical materials know-how concerning polymers and other materials. The second level involves applications expertise within the Group’s global market segments. The third level is the specifi c design of products and solutions. Focus on solutions and applications It is often necessary for customers to identify solutions that seal, damp and protect before they can develop functions for their own products and services and create new customer offerings that 26 Annual Report 2011 Trelleborg AB enhance their competitiveness. Trelleborg can customize polymers and combine them with other material to provide customers’ products with functions featuring such unique properties as elasticity, strength and resistance for highly challenging applications. R&D expenditure SEK M 500 400 300 200 100 0 2007 2008 2009 2010 2011 Expense, excluding amortization Capitalized Trelleborg’s innovative capacity extends beyond materials technology. An important competency is the ability to understand customers’ business logic and recognize the customers’ need for innovative applications to enhance effi ciency and save resources. This may require combinations of polymer development, electronics, support and services for larger intelligent systems that could pave a new way for technology and problemsolving. Global development with local proximity Trelleborg has built up a global network of development units and placed these at the disposal of its customers. These provide advanced equipment for sound analysis, pressure, temperature and load simulation, measurement of wear and friction, system analysis and non-linear material analysis. An extensive test function has been established to guarantee lasting quality. Parameters tested include compression, fatigue, pressure resistance, wear, load, vibration and sound. In the fi nal phase, testing of prototypes and fi nished products is often performed at the customer’s facility under realistic conditions. Several of the development units possess fundamental physical and chemical materials know-how of polymers and other materials and thus have the capacity to develop technology, strategic products and materials. The number of development units is steadily increasing. They represent strategic investments to consolidate and develop the competitive position when a market has become suffi ciently large. In 2011, Trelleborg had some 45 development units in 19 countries. GRI: 4.8, Governance (EC), EN, LA, HR, SO, PR
Turcon® M12 is the name of a new polytetrafl uoroethylene (PTFE) material launched by Trelleborg that is specially developed for hydraulic applications. Determining a more environmentally-friendly material composition represented a crucial starting point in its development program. Turcon® M12 is a mineral fi ber-based PTFE that does not contain lead or bronze. Another advantage of Turcon® M12 is the material’s excellent friction properties, resulting in low energy consumption. GOVERNANCE AND RESPONSIBILITY Risk and risk management ...................... 28-33 The main risks ......................................................... 28 Enterprise Risk Management Process, ERM process ... 28 ERM priorities .......................................................... 29 Strategic and operational risks .................................. 29 Legal and other risks ................................................ 30 Financial risks .......................................................... 31 Corporate governance report .................. 34-46 Foreword by the Chairman of the Board ...................... 34 Corporate governance ............................................... 35 The Board of Directors .............................................. 38 Group Management .................................................. 40 Overview of governance in the Trelleborg Group .......... 42 Report by the Board of Directors on Internal Control ... 44 Annual Report 2011 Trelleborg AB 27
Page 1 and 2: ANNUAL REPORT WE SEAL, DAMP AND PRO
Page 3 and 4: TRELLEBORG IN BRIEF GLOBAL LEADER I
Page 5 and 6: sek 29,106 m Demand was significant
Page 7 and 8: Trelleborg will be able to allocate
Page 9 and 10: FURTHER DEVELOPMENT OF ANTIVIBRATIO
Page 11 and 12: Continuing operations Net sales and
Page 13 and 14: KEY FIGURES Market position, no. 1-
Page 15 and 16: KEY FIGURES 2011 2010 Net sales, se
Page 17 and 18: KEY FIGURES Net sales and ROS* 2011
Page 19 and 20: KEY FIGURES 2011 2010 Net sales, se
Page 21 and 22: About the material’s properties N
Page 23 and 24: WE ARE GROWING IN PACE WITH GLOBALI
Page 25 and 26: INCREASED GLOBAL PRESENCE +11% Nort
Page 27 and 28: OUR FINANCIAL TARGETS Trelleborg sh
Page 29: EXCELLENCE - CONTINUOUS IMPROVEMENT
Page 33 and 34: Moreover, because selected parts of
Page 35 and 36: The elevated risk level has been de
Page 37 and 38: Financial risks, cont. Maturity ter
Page 39 and 40: CORPORATE GOVERNANCE Trelleborg is
Page 41 and 42: Independence of the Board The Board
Page 43 and 44: Name Nina Udnes Tronstad Heléne Vi
Page 45 and 46: Name Maurizio Vischi Sören Anderss
Page 47 and 48: President and Group Management The
Page 49 and 50: Control staff function works in acc
Page 51 and 52: As part of the infrastructure proje
Page 53 and 54: TARGET INDICATORS OUTCOME AND PROGR
Page 55 and 56: GOVERNANCE AND CODE OF CONDUCT Gove
Page 57 and 58: ACTIVE STAKEHOLDER DIALOG Trellebor
Page 59 and 60: in the voluntary reporting process
Page 61 and 62: workplaces globally. Trelleborg’s
Page 63 and 64: RESPONSIBILITY FOR SOCIETY AND THE
Page 65 and 66: ASSURANCE REPORT Auditor’s Report
Page 67 and 68: Our finances ......................
Page 69 and 70: CONSOLIDATED INCOME STATEMENTS sek
Page 71 and 72: Operating profit In addition to dis
Page 73 and 74: Income statement per quarter Contin
Page 75 and 76: CONSOLIDATED BALANCE SHEETS Decembe
Page 77 and 78: COMMENTS ON THE CONSOLIDATED CASH-F
Page 79 and 80: Note 1 General information The Pare
Page 81 and 82:
Dividend income Dividend income is
Page 83 and 84:
loss. If the loan, and consequently
Page 85 and 86:
Assets and liabilities by business
Page 87 and 88:
Note 4 Auditor’s remuneration sek
Page 89 and 90:
Note 15 Intangible assets Buildings
Page 91 and 92:
Note 18 Deferred tax assets/tax lia
Page 93 and 94:
Note 26 Equity Specification of oth
Page 95 and 96:
At December 31, 2010 Assets at fair
Page 97 and 98:
Note 36 Events after the closing da
Page 99 and 100:
PARENT COMPANY, TRELLEBORG AB Chang
Page 101 and 102:
Note 45 Property, plant and equipme
Page 103 and 104:
Proposed treatment of unappropriate
Page 105 and 106:
TEN-YEAR OVERVIEW Trelleborg Group
Page 107 and 108:
Swedish and foreign ownership, base
Page 109 and 110:
Spain Production: Burgos, Cascante,
Page 111 and 112:
FINANCIAL DEFINITIONS AND GLOSSARY
Page 113 and 114:
ADRESSES Head offices Trelleborg AB
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Annual report 2011 - Trelleborg

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