Trelleborg (TREL) investor relations material

Executive summary

• Sales reached SEK 8.6 billion in Q1 2026, down 3% year-over-year, with organic growth of 4% and M&A contributing 2%, but a 9% negative currency effect impacted results.

• EBITA margin hit a record 18.4% for a first quarter, despite SEK -132 million currency translation effect on EBITA.

• Earnings per share (excluding items affecting comparability) rose 5% to SEK 4.50, supported by improved financial net and share buybacks.

• Operating cash flow increased 14% to SEK 937 million, with a cash conversion ratio of 95%.

• Continued share buybacks totaling SEK 500 million and the acquisition of Nexus Elastomer Molds were completed.

Financial highlights

• Net sales: SEK 8,606 million, down 3% year-over-year; organic sales up 4%, M&A +2%, currency effects -9%.

• EBITA (excluding items affecting comparability): SEK 1,586 million, down 2% year-over-year; margin improved to 18.4%.

• Net profit rose 4% to SEK 978 million; earnings per share (excluding items) increased to SEK 4.50 (+5%), total EPS SEK 4.35 (+7%).

• Items affecting comparability at -SEK 42 million, mainly restructuring, improved from -SEK 61 million last year.

• Net debt at SEK 7.8 billion, debt-to-equity ratio at 21%, net debt/EBITDA at 1.1.

Outlook and guidance

• Q2 2026 demand expected to be somewhat higher than Q1, adjusted for seasonality, with broad-based growth across most segments.

• CapEx guidance for 2026 remains at SEK 1.45 billion, with major projects in India, Morocco, and the U.S.

• Restructuring costs for the year guided at SEK 375 million; underlying tax rate at 25%.

• Price increases for raw materials expected to impact more in the second half of the year.

• Geopolitical uncertainty continues to impact the outlook.