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Trelleborg Wheel Systems Reports 2013 Financial Results

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Depending on whether you prefer the figure for continuing operations or the total consolidated result, Trelleborg Group net sales either rose 1% or declined 14.9% to $3.276 million in the 2013 fiscal year. Operating profit for 2013 came to $433.6 million.
While group consolidated net sales fell by almost 15%, the company’s tire and wheel business enjoyed an 8.4% rise in sales during 2013. Trelleborg Wheel Systems recorded net sales of $645.3 million for the year and accounted for 19.7% of the group total. The company commented that the acquisition of Maine Industrial Tire in December 2012 positively influenced sales last year; organic sales for the full year declined 1% year-on-year with negative organic sales in the first half of the year, outweighing positive organic sales in the second half.
Agricultural tire sales rose year-on-year, while organic sales for materials handling vehicle tires was negative and only rose overall due to the Maine Industrial Tire purchase. Operating profit at Trelleborg Wheel Systems rose 9.1% to $75.5 million and operating margin increase 0.1% year-on-year to 11.7%. Trelleborg president and CEO Peter Nilsson said compared to 2013, the company finds itself on stable ground for 2014 (Tyres & Accessories).
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