Trelleborg Q2 2026
Interim report April–June 2026
Strong growth and record-high margin
Development in the second quarter accelerated following on from the positive start to the year. All three business areas reported good year-on-year organic growth. At the same time, net sales, operating profit and the operating margin noted record-high levels for a single quarter.
Net sales increased 7 percent compared with the preceding year. Organic sales increased 8 percent, while acquisitions made a positive contribution of 1 percent. Exchange rate effects had a negative impact of 2 percent on sales. EBITA, excluding items affecting comparability, increased 11 percent and the EBITA margin improved to 19.2 percent (18.6). Operating cash flow increased 22 percent, and the cash conversion ratio was 96 percent for the rolling 12-month period. Earnings per share,
excluding items affecting comparability, rose 18 percent.
Overall, we delivered a record-strong quarter. These results reflect the strength of our leading market positions, broad geographic footprint, consistent focus on operational improvements and, last but not least, our decentralized business model. At the same time, we continue to improve structure and efficiency across the business, while further strengthening our market positions to achieve our long-term financial targets.
Trelleborg Industrial Solutions reported solid organic growth, reporting a sequential improvement compared with the first quarter of the year. Compared with the beginning of the year, deliveries to infrastructure and marine projects increased slightly and are expected to continue to grow in the second half of the year. While the European construction market showed signs of improvement, the performance in North America remained subdued. Deliveries to the aerospace industry performed well.
Trelleborg Medical Solutions reported stable organic growth. Demand from medtech customers in North America and Europe remained favorable, while sales in Asia were lower year-on-year. At the same time, the smaller life science segment continued to perform very robustly.
Trelleborg Sealing Solutions reported strong organic growth during the quarter. The industrials segment performed positively, supported primarily by favorable demand in Europe and Asia. The automotive segment grew in all major markets, with the aftermarket noting a particularly clear recovery. Sales to the aerospace industry continued to perform very strongly across the globe.
During the quarter, Trelleborg Industrial Solutions completed the acquisition of the Italian company Gomet, a leading operator in the aftermarket for niche automotive components. The acquisition further strengthens our position in automotive boots and supports our already strong position as a supplier to leading OEM customers with attractive exposure to the aftermarket.
We are continuing to invest in capacity and future growth. Two key production plants were commissioned during the quarter: a new facility in North Carolina, US, for engineered polymer-coated fabrics and a new facility in Morocco for sealing solutions for the aerospace industry. These investments will further strengthen our global footprint and create a solid platform for leveraging future business opportunities in these attractive market segments.
Geopolitical uncertainty remains high, which is having an impact on conditions in several of our markets. During the quarter, our organization tackled these challenges in an exemplary manner, and the higher costs caused by this situation have been offset by efficiency measures and selective price adjustments.
In light of the strong growth in demand during the second quarter, our assessment is that demand in the third quarter will remain solid, although somewhat lower than in the preceding quarter, reflecting higher comparive figures.
Peter Nilsson,
President and CEO
Second quarter 2026
- Net sales for the quarter increased by 7 percent to SEK 9,161 m (8,551). This was the highest net sales reported for a single quarter. Organic sales increased by 8 percent compared with the preceding year, structural changes increased sales by 1 percent while translation of currency reduced sales by 2 percent compared with the preceding year.
- EBITA, excluding items affecting comparability, increased by 11 percent to SEK 1,761 m (1,587). The exchange rate effect from the translation of foreign subsidiaries had a negative impact of SEK 24 m. The EBITA margin was 19.2 percent (18.6). EBITA and the margin were the highest to date for a single quarter.
- Items affecting comparability for the quarter totaled SEK -67 m (-80) and pertained to restructuring costs.
- EBITA, including items affecting comparability, amounted to SEK 1,694 m (1,507) for the quarter.
- Earnings per share, excluding items affecting comparability, amounted to SEK 5.07 (4.31), up 18 percent.
- For the Group as a whole, earnings per share were SEK 4.85 (4.03).
- Operating cash flow amounted to SEK 1,217 m (1,000), up 22 percent.
- The cash conversion ratio for the most recent 12-month period was 96 percent (87).
Market outlook for the third quarter of 2026
Demand is expected to remain solid, although somewhat lower than in the second quarter of 2026, reflecting higher comparative figures and seasonal variations.
Market outlook from the interim report published on April 23, 2026, relating to the
second quarter of 2026
Demand is expected to be somewhat higher compared to the first quarter of 2026, adjusted for seasonal variations. Due to the geopolitical situation, the outlook is associated with continued uncertainty.
This is a translation of the company’s Interim Report in Swedish.