Trelleborg (TREL) Q1 2025 earnings summary

Executive summary

• Achieved record quarterly sales of SEK 8.866 billion, up 8% year-over-year, with organic growth of 1%, M&A contributing 6%, and currency effects 1%.

• EBITA reached SEK 1.616 billion, the highest to date, with an 18.2% margin, up 0.1 percentage points year-over-year.

• All business areas performed in line with expectations, contributing to growth despite macroeconomic and geopolitical uncertainty.

• Operating cash flow increased to SEK 821 million, with a rolling 12-month cash conversion of 90%.

• Several bolt-on acquisitions completed or announced, strengthening positions in key markets.

Financial highlights

• EBITA grew 8% to SEK 1.616 billion, with margin at 18.2%; EBITDA reached SEK 1.982 billion.

• Net profit from continuing operations was SEK 941 million, down 4% year-over-year.

• Earnings per share excluding items affecting comparability rose 1% to SEK 4.28.

• Cash flow for the quarter was SEK 821 million, with a 90% cash conversion ratio.

• Free cash flow for the quarter was SEK 315 million, up from SEK 194 million.

Outlook and guidance

• Guidance for 2025 remains unchanged: CapEx of SEK 1.65 billion, restructuring costs of SEK 300 million, amortization of intangibles SEK 650 million, and a 25% tax rate.

• Demand in Q2 2025 expected to be similar to Q1, adjusted for seasonality.

• Outlook carries high uncertainty due to geopolitical and trade factors.

• No major price increases anticipated; future growth expected to be more volume-driven.