Buy Or Sell Opportunity • Jun 27
Now 21% undervalued Over the last 90 days, the stock has risen 22% to kr414. The fair value is estimated to be kr522, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.8%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 30% in the next 2 years. Buy Or Sell Opportunity • Jun 08
Now 21% undervalued Over the last 90 days, the stock has risen 13% to kr413. The fair value is estimated to be kr521, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.8%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 30% in the next 2 years. Buy Or Sell Opportunity • Apr 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.1% to kr379. The fair value is estimated to be kr476, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.8%. Revenue is forecast to grow by 9.6% in 2 years. Earnings are forecast to grow by 28% in the next 2 years. Reported Earnings • Apr 24
First quarter 2026 earnings released: EPS: kr4.35 (vs kr4.08 in 1Q 2025) First quarter 2026 results: EPS: kr4.35 (up from kr4.08 in 1Q 2025). Revenue: kr8.61b (down 2.9% from 1Q 2025). Net income: kr978.0m (up 3.9% from 1Q 2025). Profit margin: 11% (in line with 1Q 2025). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 17
Upcoming dividend of kr8.00 per share Eligible shareholders must have bought the stock before 24 April 2026. Payment date: 30 April 2026. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of British dividend payers (5.8%). In line with average of industry peers (2.0%). Buy Or Sell Opportunity • Mar 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.8% to kr386. The fair value is estimated to be kr484, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Earnings per share has grown by 6.9%. For the next 3 years, revenue is forecast to grow by 2.7% per annum. Earnings are also forecast to grow by 9.5% per annum over the same time period. Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: kr15.14 (vs kr15.73 in FY 2024) Full year 2025 results: EPS: kr15.14 (down from kr15.73 in FY 2024). Revenue: kr34.3b (flat on FY 2024). Net income: kr3.60b (down 3.8% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 12% per year. Recent Insider Transactions • Feb 01
Chief Financial Officer recently bought kr548k worth of stock On the 30th of January, Fredrik Nilsson bought around 2k shares on-market at roughly kr365 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Fredrik has been a buyer over the last 12 months, purchasing a net total of kr1.3m worth in shares. New Risk • Jan 31
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.2% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Declared Dividend • Jan 31
Dividend increased to kr8.00 Dividend of kr8.00 is 6.7% higher than last year. Ex-date: 24th April 2026 Payment date: 30th April 2026 Dividend yield will be 2.2%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 42% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 30
Full year 2025 earnings released: EPS: kr15.76 (vs kr15.73 in FY 2024) Full year 2025 results: EPS: kr15.76. Revenue: kr34.3b (flat on FY 2024). Net income: kr3.60b (down 3.8% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in the United Kingdom. Announcement • Jan 29
Trelleborg AB (Publ) Proposes Dividend The Board of Directors of Trelleborg AB (publ) proposed a cash dividend of SEK 8.00 per share (SEK 7.50 per share). Reported Earnings • Oct 26
Third quarter 2025 earnings released: EPS: kr3.94 (vs kr3.53 in 3Q 2024) Third quarter 2025 results: EPS: kr3.94 (up from kr3.53 in 3Q 2024). Revenue: kr8.53b (up 1.1% from 3Q 2024). Net income: kr896.0m (up 7.2% from 3Q 2024). Profit margin: 11% (in line with 3Q 2024). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 15
Trelleborg AB (publ) to Report Fiscal Year 2025 Final Results on Feb 27, 2026 Trelleborg AB (publ) announced that they will report fiscal year 2025 final results on Feb 27, 2026 Announcement • Oct 06
Trelleborg AB (publ), Annual General Meeting, Apr 23, 2026 Trelleborg AB (publ), Annual General Meeting, Apr 23, 2026. New Risk • Jul 19
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.1% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 18
Second quarter 2025 earnings released: EPS: kr4.03 (vs kr4.14 in 2Q 2024) Second quarter 2025 results: EPS: kr4.03 (down from kr4.14 in 2Q 2024). Revenue: kr8.55b (down 1.8% from 2Q 2024). Net income: kr923.0m (down 6.6% from 2Q 2024). Profit margin: 11% (in line with 2Q 2024). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • May 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to kr350. The fair value is estimated to be kr438, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 2.9% in 2 years. Earnings are forecast to grow by 18% in the next 2 years. Recent Insider Transactions • May 08
Independent Chairman of Board recently bought kr1.7m worth of stock On the 5th of May, Johan Malmquist bought around 5k shares on-market at roughly kr336 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Johan has been a buyer over the last 12 months, purchasing a net total of kr3.5m worth in shares. Reported Earnings • Apr 25
First quarter 2025 earnings released: EPS: kr4.08 (vs kr4.06 in 1Q 2024) First quarter 2025 results: EPS: kr4.08. Revenue: kr8.87b (up 7.7% from 1Q 2024). Net income: kr941.0m (down 4.0% from 1Q 2024). Profit margin: 11% (down from 12% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in the United Kingdom. Announcement • Apr 25
Trelleborg AB (publ) Approves Dividend, Payable on May 2, 2025 Trelleborg AB (publ) at its AGM held on April 24, 2025 approved dividend in the amount of SEK 7.50 per share. The record date for the dividend was set as April 28, 2025, which means the dividend is expected to be distributed by Euroclear Sweden AB on Friday May 2, 2025. Upcoming Dividend • Apr 18
Upcoming dividend of kr7.50 per share Eligible shareholders must have bought the stock before 25 April 2025. Payment date: 02 May 2025. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of British dividend payers (6.2%). In line with average of industry peers (2.6%). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr304, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Machinery industry in the United Kingdom. Total returns to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr478 per share. Buy Or Sell Opportunity • Mar 27
Now 20% undervalued Over the last 90 days, the stock has risen 2.4% to kr389. The fair value is estimated to be kr489, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Reported Earnings • Mar 04
Full year 2024 earnings released: EPS: kr15.73 (vs kr13.91 in FY 2023) Full year 2024 results: EPS: kr15.73 (up from kr13.91 in FY 2023). Revenue: kr34.2b (flat on FY 2023). Net income: kr3.74b (up 7.3% from FY 2023). Profit margin: 11% (in line with FY 2023). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 01
Trelleborg AB (publ) to Report Q3, 2025 Results on Oct 24, 2025 Trelleborg AB (publ) announced that they will report Q3, 2025 results on Oct 24, 2025 Buy Or Sell Opportunity • Feb 04
Now 20% undervalued Over the last 90 days, the stock has risen 14% to kr414. The fair value is estimated to be kr521, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Declared Dividend • Feb 01
Dividend increased to kr7.50 Dividend of kr7.50 is 11% higher than last year. Ex-date: 25th April 2025 Payment date: 2nd May 2025 Dividend yield will be 1.8%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (48% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has increased by an average of 8.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 01
Trelleborg AB (Publ) Proposes Cash Dividend for 2024 Trelleborg AB (publ) proposed cash dividend of sek 7.50 per share (6.75) for 2024. Reported Earnings • Jan 30
Full year 2024 earnings released: EPS: kr16.08 (vs kr13.91 in FY 2023) Full year 2024 results: EPS: kr16.08 (up from kr13.91 in FY 2023). Revenue: kr34.2b (flat on FY 2023). Net income: kr3.74b (up 7.3% from FY 2023). Profit margin: 11% (in line with FY 2023). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 14
Trelleborg AB (publ) (OM:TREL B) completed the acquisition of Mampaey Offshore Industries B.V. Trelleborg AB (publ) (OM:TREL B) signed an agreement to acquire Mampaey Offshore Industries B.V. on December 12, 2024.
Trelleborg AB (publ) (OM:TREL B) completed the acquisition of Mampaey Offshore Industries B.V. on December 12, 2024. Recent Insider Transactions • Nov 21
Chief Financial Officer recently bought kr786k worth of stock On the 19th of November, Fredrik Nilsson bought around 2k shares on-market at roughly kr349 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr1.8m. Fredrik has been a buyer over the last 12 months, purchasing a net total of kr1.5m worth in shares. Recent Insider Transactions • Oct 27
Independent Chairman of Board recently bought kr1.8m worth of stock On the 25th of October, Johan Malmquist bought around 5k shares on-market at roughly kr364 per share. This transaction increased Johan's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Johan's only on-market trade for the last 12 months. Announcement • Oct 25
Trelleborg AB (publ) to Report Fiscal Year 2025 Results on Jan 29, 2026 Trelleborg AB (publ) announced that they will report fiscal year 2025 results on Jan 29, 2026 Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: kr3.53 (vs kr3.65 in 3Q 2023) Third quarter 2024 results: EPS: kr3.53 (down from kr3.65 in 3Q 2023). Revenue: kr8.44b (flat on 3Q 2023). Net income: kr836.0m (down 7.7% from 3Q 2023). Profit margin: 9.9% (in line with 3Q 2023). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 04
Trelleborg AB (publ), Annual General Meeting, Apr 24, 2025 Trelleborg AB (publ), Annual General Meeting, Apr 24, 2025. Reported Earnings • Jul 20
Second quarter 2024 earnings released: EPS: kr4.14 (vs kr3.55 in 2Q 2023) Second quarter 2024 results: EPS: kr4.14 (up from kr3.55 in 2Q 2023). Revenue: kr8.71b (flat on 2Q 2023). Net income: kr988.0m (up 10% from 2Q 2023). Profit margin: 11% (up from 10% in 2Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 20
Now 22% undervalued Over the last 90 days, the stock has risen 5.4% to kr397. The fair value is estimated to be kr507, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 27% in the next 2 years. Announcement • Jul 18
Trelleborg AB (publ) to Report First Half, 2025 Results on Jul 17, 2025 Trelleborg AB (publ) announced that they will report first half, 2025 results on Jul 17, 2025 New Risk • May 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: kr4.06 (vs kr3.52 in 1Q 2023) First quarter 2024 results: EPS: kr4.06 (up from kr3.52 in 1Q 2023). Revenue: kr8.23b (down 5.5% from 1Q 2023). Net income: kr980.0m (up 9.0% from 1Q 2023). Profit margin: 12% (up from 10% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 18% per year. Announcement • Apr 25
Trelleborg AB (publ) Approves Dividend, Payable on May 2, 2024 The Board of Directors of Trelleborg AB (publ) at its Annual General Meeting held on April 24, 2024 approved to pay a dividend in the amount of SEK 6.75 per share. The record date for the dividend was set as April 26, 2024, which means the dividend is expected to be distributed by Euroclear Sweden AB on May 2, 2024. Upcoming Dividend • Apr 18
Upcoming dividend of kr6.75 per share Eligible shareholders must have bought the stock before 25 April 2024. Payment date: 02 May 2024. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of British dividend payers (6.2%). Lower than average of industry peers (2.2%). Announcement • Mar 20
Trelleborg AB (publ) Proposes Cash Dividend, Payable on May 2, 2024 The Board of Directors of Trelleborg AB (publ) proposed a cash dividend to shareholders of SEK 6.75 per share. The proposed record date for the dividend is April 26, 2024. If the Meeting approves the proposal, the dividend is expected to be distributed by Euroclear Sweden AB on May 2, 2024. Reported Earnings • Mar 04
Full year 2023 earnings released: EPS: kr13.91 (vs kr13.01 in FY 2022) Full year 2023 results: EPS: kr13.91 (up from kr13.01 in FY 2022). Revenue: kr34.3b (up 14% from FY 2022). Net income: kr3.48b (up 1.5% from FY 2022). Profit margin: 10% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Announcement • Feb 15
Jürgen Bosch Appointed President of Trelleborg Sealing Solutions and Member of Group Management, Effective from April 1, 2024 Jürgen Bosch has been appointed new Business Area President of Trelleborg Sealing Solutions and member of Group Management effective from April 1, 2024. Jürgen Bosch is currently heading the Global Aerospace business as well as Industrial Europe within the business area Trelleborg Sealing Solutions. He has held various senior positions in the business area since 2010. As a planned succession, Jürgen will replace Peter Hahn as new Business Area President. Peter Hahn has decided, after 23 years at Trelleborg, including seven years as President of the business area Trelleborg Sealing Solutions, to continue to work for the Group in a new role as a senior advisor focusing on development projects. The new organization will be implemented from April 1, 2024. Announcement • Feb 14
Trelleborg AB (Publ) Appoints Linda Muroski as President for the New Business Area and Member of Group Management Trelleborg AB (publ) announced that Linda Muroski appointed as President for the new Business Area and member of Group Management. The head office of the new business area will be located in Minneapolis, USA and led by Linda Muroski. Linda is currently heading Global Healthcare & Medical as well as Industrial Americas within the business area Trelleborg Sealing Solutions. Declared Dividend • Feb 11
Dividend increased to kr6.75 Dividend of kr6.75 is 13% higher than last year. Ex-date: 25th April 2024 Payment date: 2nd May 2024 Dividend yield will be 2.0%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 8.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 03
Trelleborg AB (Publ) Proposes Dividend for the Year 2023 The Board of Directors of Trelleborg AB (publ) proposed a cash dividend of SEK 6.75 per share (SEK 6.00) for the year 2023. Reported Earnings • Feb 02
Full year 2023 earnings released: EPS: kr14.10 (vs kr13.01 in FY 2022) Full year 2023 results: EPS: kr14.10 (up from kr13.01 in FY 2022). Revenue: kr34.3b (up 14% from FY 2022). Net income: kr3.48b (up 1.5% from FY 2022). Profit margin: 10% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 4.2% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 19% per year. Announcement • Jan 12
Trelleborg AB (publ) to Report Fiscal Year 2024 Results on Jan 29, 2025 Trelleborg AB (publ) announced that they will report fiscal year 2024 results on Jan 29, 2025 Announcement • Dec 23
Trelleborg AB (publ) to Report Fiscal Year 2023 Final Results on Feb 29, 2024 Trelleborg AB (publ) announced that they will report fiscal year 2023 final results at 9:00 AM, Central European Standard Time on Feb 29, 2024 Announcement • Nov 29
An unknown buyer acquired U.S. offshore oil and gas operations from Trelleborg. An unknown buyer acquired U.S. offshore oil and gas operations from Trelleborg on November 27, 2023. As on November 27, 2023 U.S. offshore oil and gas operations reported a revenue of approximately $2.9 million for the year ended in December 31, 2022.
An unknown buyer completed the acquisition of U.S. offshore oil and gas operations from Trelleborg on November 27, 2023. Reported Earnings • Oct 27
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: kr8.46b (up 12% from 3Q 2022). Net income: kr906.0m (up 5.0% from 3Q 2022). Profit margin: 11% (in line with 3Q 2022). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in the United Kingdom. Announcement • Sep 27
Trelleborg AB (publ) Announces Board Appointments Trelleborg AB (publ) announced according to a previous resolution by the Annual General Meeting of the company, the chairman of the board is assigned the task of annually asking the five large shareholders, in terms of votes registered on August 31, to appoint one member each to the Nomination Committee prior to the next Annual General Meeting. The following have agreed to participate in the Nomination Committee prior to the 2024 Annual General Meeting: Ragnar Lindqvist, Dunkerstiftelserna; Per Trygg, Lannebo Fonder; Anna Sundberg, Handelsbanken Fonder; Ulrik Grönvall, Swedbank Robur Fonder; Erik Granström, Folksam. Reported Earnings • Jul 20
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr8.70b (up 18% from 2Q 2022). Net income: kr897.0m (down 4.9% from 2Q 2022). Profit margin: 10% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • May 09
Trelleborg AB (publ) (OM:TREL B) commences an Equity Buyback Plan for 24,000,000 shares, representing 8.85% for SEK 5,500 million, under the authorization approved on April 27, 2023. Trelleborg AB (publ) (OM:TREL B) commences share repurchases on May 3, 2023, under the program mandated by the shareholders in the Annual General Meeting held on April 27, 2023. As per the mandate, the company is authorized to repurchase 24,000,000 class B shares, representing 8.85% of its issued share capital, such that the company’s holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital at any point of time, for SEK 5,500 million. The shares will be repurchased at a price which falls within the prevailing price interval registered at each point in time (i.e. in the interval between the highest purchase price and the lowest selling price). The purpose of the program is to contribute to increased shareholder value. The repurchased shares will be cancelled by resolution of upcoming Annual General Meetings. The program is valid until the next Annual General Meeting in 2024. As of April 27, 2023, the company had 271,071,783 shares outstanding, of which 28,500,000 are shares of series A and 242,571,783 are shares of series B and 17,113,822 shares in treasury. Announcement • May 04
The Yokohama Rubber Co., Ltd. (TSE:5101) completed the acquisition of Trelleborg Wheel Systems Holding AB from Trelleborg AB (publ) (OM:TREL B). The Yokohama Rubber Co., Ltd. (TSE:5101) agreed to acquire Trelleborg Wheel Systems Holding AB from Trelleborg AB (publ) (OM:TREL B) for SEK 22 billion on March 25, 2022. Consideration of SEK 22 billion is on a cash and debt free basis, which represents 13x the business area’s 2021 operational EBITDA, or 17.5x 2021 EBIT. Less than 3% of the purchase price is subject to the performance of Trelleborg Wheel Systems in 2022. Trelleborg Wheel Systems Holding AB had net sales of SEK 10 billion in 2021. The transaction will result in an estimated capital gain of SEK 6 billion. The takeover, which is subject to review by competition regulators. Closing of the transaction is subject to approvals from relevant authorities and is expected to be completed in the latter part of 2022. The net proceeds will be used for share buyback by Trelleborg AB. On December 27, 2022, Trelleborg said that transaction is expected to take place during the first half of 2023. As of January 30, 2023, The CMA announced the launch of its merger inquiry by notice to the Parties on January 31, 2023 and has a deadline of March 28, 2023 to announce its decision on whether to refer this transaction for an in-depth Phase 2 review and in this process Invitation to comment closes on February 14, 2023. As of March 24, 2023, the transaction is unconditionally approved by European Commission.
Takeshi Nakao, Jochen Ellrott, Tomoko Nakajima, Helen Buchanan, Daniel French, Kaori Yamada, Judit Gajdics, Frank Schaer, Sascha Arnold and Alexandra Buchanan of Freshfields Bruckhaus Deringer LLP acted as legal advisors to The Yokohama Rubber. Barclays Capital Inc. acted as financial advisor to Trelleborg AB (publ) (OM:TREL B). BDK Advokati and PRK Partners s.r.o. advokátní kanceláø acted as legal advisors to The Yokohama Rubber Co., Ltd.
The Yokohama Rubber Co., Ltd. (TSE:5101) completed the acquisition of Trelleborg Wheel Systems Holding AB from Trelleborg AB (publ) (OM:TREL B) on May 2, 2023. Upcoming Dividend • Apr 21
Upcoming dividend of kr6.00 per share at 2.1% yield Eligible shareholders must have bought the stock before 28 April 2023. Payment date: 05 May 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (2.5%). Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr296, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Machinery industry in the United Kingdom. Total returns to shareholders of 212% over the past three years. Board Change • Mar 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Jan Stahlberg was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 20
Full year 2022 earnings released: EPS: kr13.01 (vs kr10.00 in FY 2021) Full year 2022 results: EPS: kr13.01 (up from kr10.00 in FY 2021). Revenue: kr30.1b (up 27% from FY 2021). Net income: kr3.43b (up 27% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Announcement • Jan 28
Trelleborg AB (Publ) Proposes A Cash Dividend for the Year 2022 Trelleborg AB (publ) proposed a cash dividend of SEK 6.00 per share for the year 2022. Reported Earnings • Jan 27
Full year 2022 earnings released: EPS: kr13.25 (vs kr13.53 in FY 2021) Full year 2022 results: EPS: kr13.25 (down from kr13.53 in FY 2021). Revenue: kr30.1b (down 11% from FY 2021). Net income: kr3.43b (down 6.4% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Dec 23
Insider recently sold kr627k worth of stock On the 19th of December, Jean-Paul Mindermann sold around 3k shares on-market at roughly kr251 per share. This transaction amounted to 29% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought kr804k more than they sold in the last 12 months. Announcement • Dec 21
Trelleborg AB (publ) to Report Fiscal Year 2023 Results on Feb 01, 2024 Trelleborg AB (publ) announced that they will report fiscal year 2023 results on Feb 01, 2024 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Jan Stahlberg was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 04
Trelleborg AB (publ) to Report Fiscal Year 2022 Final Results on Mar 14, 2023 Trelleborg AB (publ) announced that they will report fiscal year 2022 final results at 9:00 AM, Central European Standard Time on Mar 14, 2023 Announcement • Oct 27
Trelleborg AB (publ) to Report Q3, 2023 Results on Oct 26, 2023 Trelleborg AB (publ) announced that they will report Q3, 2023 results on Oct 26, 2023 Reported Earnings • Oct 26
Third quarter 2022 earnings released: EPS: kr3.18 (vs kr3.15 in 3Q 2021) Third quarter 2022 results: EPS: kr3.18 (up from kr3.15 in 3Q 2021). Revenue: kr7.54b (down 8.5% from 3Q 2021). Net income: kr863.0m (flat on 3Q 2021). Profit margin: 12% (up from 10% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is expected to decline by 1.5% p.a. on average during the next 3 years, while revenues in the Machinery industry in the United Kingdom are expected to grow by 5.3%. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Sep 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.3%. The fair value is estimated to be kr259, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.4% over the last 3 years. Earnings per share has grown by 43%. Revenue is forecast to decline by 24% in 2 years. Earnings is forecast to decline by 7.7% in the next 2 years. Reported Earnings • Jul 22
Second quarter 2022 earnings released: EPS: kr3.54 (vs kr2.63 in 2Q 2021) Second quarter 2022 results: EPS: kr3.54 (up from kr2.63 in 2Q 2021). Revenue: kr7.35b (up 21% from 2Q 2021). Net income: kr943.0m (up 32% from 2Q 2021). Profit margin: 13% (up from 12% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 26% compared to a 11% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Jul 22
Trelleborg AB (publ) to Report Q2, 2023 Results on Jul 19, 2023 Trelleborg AB (publ) announced that they will report Q2, 2023 results on Jul 19, 2023 Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Jan Stahlberg was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 21
Upcoming dividend of kr5.50 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 04 May 2022. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of British dividend payers (4.6%). Higher than average of industry peers (1.8%). Recent Insider Transactions • Mar 30
Chief Financial Officer recently bought kr959k worth of stock On the 28th of March, Fredrik Nilsson bought around 5k shares on-market at roughly kr212 per share. This was the largest purchase by an insider in the last 3 months. This was Fredrik's only on-market trade for the last 12 months. Reported Earnings • Feb 05
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr13.53 (up from kr10.01 in FY 2020). Revenue: kr33.9b (up 3.1% from FY 2020). Net income: kr3.67b (up 35% from FY 2020). Profit margin: 11% (up from 8.3% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 7.3%, compared to a 9.6% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 14% per year. Reported Earnings • Feb 05
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr13.53 (up from kr10.01 in FY 2020). Revenue: kr33.9b (up 3.1% from FY 2020). Net income: kr3.67b (up 35% from FY 2020). Profit margin: 11% (up from 8.3% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 7.3%, compared to a 9.6% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 14% per year. Announcement • Feb 05
Trelleborg AB (publ) to Report Fiscal Year 2022 Results on Jan 27, 2023 Trelleborg AB (publ) announced that they will report fiscal year 2022 results on Jan 27, 2023 Buying Opportunity • Feb 04
Now 24% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be kr293, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has been flat over the last 3 years. Buying Opportunity • Jan 18
Now 20% undervalued Over the last 90 days, the stock is up 28%. The fair value is estimated to be kr302, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has been flat over the last 3 years. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS kr3.15 (vs kr2.41 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr8.24b (up 6.4% from 3Q 2020). Net income: kr855.0m (up 31% from 3Q 2020). Profit margin: 10% (up from 8.4% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Jul 23
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr8.64b (up 12% from 2Q 2020). Net income: kr980.0m (up 71% from 2Q 2020). Profit margin: 11% (up from 7.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Executive Departure • Apr 25
Employee Representative Director has left the company On the 22nd of April, Jimmy Faltin's tenure as Employee Representative Director ended after 3.1 years in the role. We don't have any record of a personal shareholding under Jimmy's name. A total of 4 executives have left over the last 12 months. Executive Departure • Apr 25
Employee Representative Director has left the company On the 22nd of April, Maria Eriksson's tenure in the role of Employee Representative Director ended. We don't have any record of a personal shareholding under Maria's name. A total of 4 executives have left over the last 12 months. Executive Departure • Apr 25
Employee Representative Director has left the company On the 22nd of April, Lars Pettersson's tenure as Employee Representative Director ended after 3.1 years in the role. We don't have any record of a personal shareholding under Lars' name. A total of 4 executives have left over the last 12 months. Reported Earnings • Apr 24
First quarter 2021 earnings released The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: kr8.22b (down 12% from 1Q 2020). Net income: kr1.10b (up 33% from 1Q 2020). Profit margin: 13% (up from 8.9% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 16
Upcoming dividend of kr5.00 per share Eligible shareholders must have bought the stock before 23 April 2021. Payment date: 29 April 2021. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (4.1%). Higher than average of industry peers (1.9%). Reported Earnings • Mar 20
Full year 2020 earnings released: EPS kr10.01 (vs kr0.73 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: kr32.8b (down 10% from FY 2019). Net income: kr2.71b (up kr2.91b from FY 2019). Profit margin: 8.3% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. 