Trelleborg AB reported consolidated and parent earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, on consolidated basis, the company reported net sales of SEK 7,072 million compared to SEK 5,975 million a year ago. EBIT was SEK 864 million compared to SEK 689 million a year ago. Profit before tax was SEK 818 million compared to SEK 655 million a year ago. Net profit in continuing operations was SEK 631 million or SEK 2.33 per share compared to SEK 485 million or SEK 1.80 per share a year ago. Total net profit attributable to equity holders of the parent company was SEK 631 million or SEK 2.33 per share compared to SEK 616 million or SEK 2.28 per share a year ago. Cash flow from operating activities was SEK 1,051 million compared to SEK 832 million a year ago. Capital expenditure, property, plant and equipment were SEK 256 million compared to SEK 270 million a year ago. Capital expenditure, intangible assets was positive to SEK 6 million compared to negative SEK 12 million a year ago. EBIT, excluding items affecting comparability was SEK 915 million against SEK 798 million a year ago. EBITDA, excluding items affecting comparability was SEK 1,227 million against SEK 1,009 million a year ago. EBITA, excluding items affecting comparability was SEK 980 million against SEK 824 million a year ago.

For the nine months, on consolidated basis, the company reported net sales of SEK 19,711 million compared to SEK 18,876 million a year ago. EBIT was SEK 2,382 million compared to SEK 2,347 million a year ago. Profit before tax was SEK 2,226 million compared to SEK 2,237 million a year ago. Net profit in continuing operations was SEK 1,697 million or SEK 6.26 per share compared to SEK 1,656 million or SEK 6.11 per share a year ago. Total net profit attributable to equity holders of the parent company was SEK 6,066 million or SEK 22.38 per share compared to SEK 2,059 million or SEK 7.60 per share a year ago. Cash flow from operating activities was SEK 1,972 million compared to SEK 1,604 million a year ago. Capital expenditure, property, plant and equipment was SEK 610 million compared to SEK 713 million a year ago. Capital expenditure, intangible assets was SEK 44 million compared to SEK 41 million a year ago. Net debt was SEK 11,599 compared to SEK 7,735 a year ago. EBIT, excluding items affecting comparability was SEK 2,655 million against SEK 2,514 million a year ago. EBITDA, excluding items affecting comparability was SEK 3,399 million against SEK 3,130 million a year ago. EBITA, excluding items affecting comparability was SEK 2,784 million against SEK 2,589 million a year ago.

For the quarter, on parent basis, the company reported operating loss of SEK 44 million compared to SEK 34 million a year ago. Profit before tax was SEK 5 million compared to SEK 276 million a year ago. Net profit was SEK 39 million compared to SEK 306 million a year ago.

For the nine months, on parent basis, the company reported operating profit of SEK 62 million compared to SEK 94 million a year ago. Profit before tax was SEK 70 million compared to SEK 573 million a year ago. Net profit was SEK 130 million compared to SEK 630 million a year ago.

For the third quarter ended September 30, 2016, the company reported impairment losses, property, plant and equipment of SEK 5 million compared to SEK 23 million a year ago.

For the full year of 2016, the company expects 27% of the underlying tax rate.

For the full year of 2017, the company expects sales to continue to drop by 10% to 20%.