Global engineering group Trelleborg AB (OMX: TREL B)missed consensus estimates but its Q4 2011 report did contain plenty of positives on which investors decided to focus. The damping and protection solutions provider predicts seasonally adjusted Q1 2012 demand to be in line or slightly higher than in Q4 2011. In Q4 net sales from continuing operations were just above 7.1 billion SEK, operating profit of 459 million was generated with net profit at 266 million resulting in an EPS of 0.95 SEK.
Full-year sales topped 29.1 billion and operating profit was 2.4 billion. Net profit climbed 22%to 1.58 billion. Out of an EPS 5.75 SEK, the board is suggesting a large dividend increase to 2.50 SEK per share. Trelleborg’s equity holders enjoyed a gain of nearly 5% for the rest of the week after the earnings release with the share closing above 71 SEK on Friday.
During the last quarter the polymer technology focused firm said it is making organizational changes to strengthen and focus operations. Trelleborg Automotive will focus on antivibration solutions with the other operations being moved into Trelleborg Engineered Systems and Trelleborg Sealing Solutions. This is to prepare for a planned joint venture between Trelleborg and Freudenberg in antivibration solutions for light and heavy vehicles was announced during the quarter. Engineering Systems will focus on offshore and infra construction and general + polymer-coated fabrics industrial applications.
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