Trelleborg — Interim / Quarterly Report 2010

Apr 20, 2010

The first quarter 2010

President and CEO Peter Nilsson

"The first quarter of 2010 is showing that we are building a stronger Trelleborg and that we are constantly moving towards growing and profitable segments.

The implemented action programs continue to give positive effects and we are gradually growing in to a more efficient structure.

The increasing volumes during the quarter give a good leverage resulting in higher margins. The EBITDA margin improved and was 11.3 percent for the quarter, compared to 5.0 percent during the year-earlier period, or 10.4 percent in the fourth quarter of 2009.

The demand scenario remains uncertain. We now have greater flexibility to swiftly address market movements. Our priorities include continuing our efforts to improve the Group's structure and geographic balance, increasing synergies and continue to develop the product portfolio."

• Net sales in the first quarter of 2010 increased to SEK 7,054 M (6,877).
• Operating profit rose to SEK 501 M (46). Items affecting comparability amounted to an expense of SEK 29 M (expense: 17).
• Earnings per share increased to SEK 1.05 (0.35).
• Operating cash flow was SEK 8 M (478). Free cash flow was negative SEK 401 M (26).

	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Net sales	7,054	6,877	27,236	27,059
Operating profit	501	46	1,228	773
Profit for the period	292	65	646	419
Earnings per share, SEK 1)	1.05	0.35	2.40	1.70
Operating profit, excl. items affecting comparability	530	63	1,630	1,163
Earnings per share, SEK, excl. items affecting comparability 1)	1.15	0.40	3.65	2.90

1) Share of net profit for the period attributable to equity holders of the Parent divided by the average number of shares. Following the rights issue, the average number of shares was adjusted according to guidelines in IAS 33. This calculation method has been applied throughout this report in all key figures that include the number of shares.

Market outlook for the second quarter of 2010

Market outlook for the second quarter of 2010. Overall, demand is expected to remain in line with or slightly better than the first quarter of 2010.

Key ratios	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Net sales	7,054	6,877	27,236	27,059
Operating profit	501	46	1,228	773
Profit before tax	431	-93	893	369
Profit for the period	292	65	646	419
- attributable to equity holders of the parent	285	65	629	409
- attributable to minority interest	7	0	17	10
Earnings per share, SEK 1)	1.05	0.35	2.40	1.70
Operating key ratios	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Excluding items affecting comparability
Operating profit	530	63	1,630	1,163
Earnings per share, SEK 1)	1.15	0.40	3.65	2.90
EBITDA, %	11.3	5.0	10.0	8.4
Operating margin (ROS), %	7.6	0.9	6.0	4.3

1) Share of net profit for the period attributable to equity holders of the Parent divided by the average number of shares. Following the rights issue, the average number of shares was adjusted according to guidelines in IAS 33. This calculation method has been applied throughout this report in all key figures that include the number of shares.

The Group's key figures

January – March 2010

Net sales. The Trelleborg Group's net sales for the first quarter of 2010 amounted to SEK 7,054 M (6,877), up 3 percent. Organic sales rose by 12 percent. Exchange-rate effects were negative 9 percent and effects from structural changes were 0 percent.

Trelleborg's sales of input goods to the industrial sector were higher than the corresponding period in 2009 and the fourth quarter of 2009. There was a significant increase in light vehicles sales compared with the year-earlier period and the fourth quarter of 2009. Within project-related segments – offshore oil/gas and infrastructure – and within the agriculture segment, sales were lower than the corresponding period in the preceding year and the fourth quarter of 2009.

The Group continued to improve its market positions and to establish a better geographic balance through further investments in markets outside North America and Western Europe, including India and Russia.

Change in net sales	Jan - Mar	Jan - Mar
%	2010	2009
Organic sales	+12	-27
Structural changes	0	+2
Currency impact	-9	+10
Total	+3	-15

Organic sales rose by 12 percent

Operating profit increased to SEK 501 M (46)

Earnings. Operating profit for the quarter increased to SEK 501 M (46). Items affecting comparability were an expense of SEK 29 M (expense: 17), see page 4.

Compared with the year-earlier period and the fourth quarter of 2009, operating margins improved as a result of lower cost levels and increased volumes. The Group now has a more efficient structure, offering favorable leverage on increased volumes.

Cost increases for raw materials, which impact earnings with a certain delay, had a limited effect on earnings during the quarter. The prices of certain raw materials rose sharply during the period and looking ahead, a continued volatile upward price trend is expected.

Exchange-rate fluctuations arising in the translation of earnings of foreign Group companies had a negative impact on operating profit of about SEK 50 M compared with the corresponding period in 2009.

The Group posted a net financial expense of SEK 70 M (expense: 139), corresponding to an average interest rate of 3.3 percent (4.3).

Profit before tax amounted to SEK 431 M (loss: 93). Net profit totaled SEK 292 M (65). The tax rate was 32 percent. Earnings per share totaled SEK 1.05 (0.35).

Return on shareholder's equity 5.2 percent (3.6)

Return. Return on shareholders' equity for the most recent twelve-month period amounted to 5.2 percent (full-year 2009: 3.6), while the return on capital employedfor the same period was 6.0 percent (full-year 2009: 3.6).

	Group			Excl. items affecting comparability
%	Apr 2009 - Mar 2010	Full year 2009	Apr 2009 - Mar 2010	Full year 2009
Return on capital employed	6.0	3.6	7.7	5.3
Return on shareholders' equity	5.2	3.6	7.6	6.2

Free cash flow was negative SEK 401 M (pos: 26)

Cash flow. Operating cash flow for the period was SEK 8 M (478), impacted by an increase in working capital due to higher volume, which was balanced by improved generation of earnings and a continued low level of investment.

	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Operating cash flow	8	478	2,745	3,215
Utilization of restructuring provisions	-112	-112	-680	-680
Dividend paid to minority	-	-	-2	-2
Financial items	-225	-332	-425	-532
Paid tax	-72	-8	-322	-258
Free cash flow	-401	26	1,316	1,743

Debt/equity ratio was 69 percent

Net debt. Net debt increased SEK 36 M compared with the preceding quarter and amounted to SEK 8,405 M as a result of a negative free cash flow, which was largely offset by the effects of a stronger Swedish krona. The debt/equity ratio was 69 percent (122).

Change in net debt	Jan - Mar	Jan - Mar	Full year
SEK M	2010	2009	2009
Net debt, opening balance	-8,369	-12,706	-12,706
Net cash flow for the period excl. rights issue	-402	5	1,680
Rights issue	-	-	2,070
Exchange rate differences	366	-273	587
Net debt, closing balance	-8,405	-12,974	-8,369
Debt/equity ratio, %	69	122	68

Items affecting comparability

Items affecting comparability during the quarter: Expense of SEK 29 M before tax and expense of SEK 22 M after tax

Items affecting comparability for the calculation of key figures. During the first quarter of 2010, items affecting comparability totaling an expense of SEK 29 M (expense: 17) before tax were excluded from the calculation of the Group's operating key figures. Items affecting comparability comprise restructuring costs for previously announced and ongoing programs in all four of the Group's business areas. Remaining costs totaling about SEK 150 M for programs announced up until the first quarter of 2010 mainly pertain to Trelleborg Engineered Systems and will primarily be charged against the remaining period of 2010. The Group continuously reviews opportunities to further improve the production structure.

Items affecting comparability
of operating profit 1)	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Trelleborg Engineered Systems	-14	-5	-172	-163
Trelleborg Automotive	-3	-8	-54	-59
Trelleborg Sealing Solutions	-5	-2	-155	-152
Trelleborg Wheel Systems	-4	-2	-18	-16
Other	-3	-	-3	-
Total items affecting comparability	-29	-17	-402	-390

1) Main part reported as other operating expenses

The carrying amount of the provisions recognized for restructuring costs and legal costs that are related to competition investigations communicated earlier amounted to SEK 424 M at the end of the first quarter. These provisions are expected to affect cash flow primarily in 2010.

The Group's operating key figures

January – March 2010

Earnings. Operating profit, excluding items affecting comparability, increased to SEK 530 M (63). The operating margin was 7.6 percent (0.9). Operating profit before depreciation (EBITDA) rose to SEK 796 M (349).

The EBITDA margin amounted to 11.3 percent (5.0).

Consolidated profit before tax amounted to SEK 460 M (loss: 76) and net profit to SEK 314 M (78). Earnings per share totaled SEK 1.15 (0.40).

Operating profit was SEK 530 M (63)

EBITDA margin increased to 11.3 percent (5.0)

Risk management

Risks/risk management at Trelleborg. Trelleborg focuses continuously on identifying, evaluating and managing risks arising in various systems and processes. Trelleborg has since 2008 an Enterprise Risk Management process (ERM) with the overall objective of ensuring that risks are managed systematically, that the right priorities are made and that risks are managed as efficiently as possible.

The principal risks and uncertainties currently faced by the Group relate to the economy's effect on demand, supply and price variations of raw material and components, structural measures, financial business environment risks and changes in value of fixed assets.

For further information regarding the Group's risks, risk exposure and risk management, refer to the Trelleborg Annual Report and www.trelleborg.com

The Group's market outlook

Market outlook for the second quarter of 2010. Overall, demand is expected to remain in line with or slightly better than the first quarter of 2010.

Outlook from the interim report published on February 16, 2010: Market outlook for the first quarter of 2010. Overall, demand is expected to remain in line with the fourth quarter of 2009.

Trelleborg, April 20, 2010 Board of Directors of Trelleborg AB (publ) _____________________________________________________________

This report was prepared in accordance with IAS 34 Interim Financial Reporting and applicable rules in the Annual Accounts Act. The interim report for the Parent Company was prepared in accordance with chapter 9 of the Annual Accounts Act, Interim report. Unless otherwise stated, the accounting policies applied by the Group and Parent Company correspond to the accounting policies applied in the preparation of the most recent annual report.

The new and revised accounting policy for 2010 that may be expected to have a material impact on the consolidated financial statements is IFRS 3 Business Combinations. The revised standard continues to apply the acquisition method to business combinations, but with some significant changes. For example, all payments for purchases of a business are recognized at fair value on the date of acquisition, with subsequent contingent payments classified as debt later råemeasured in profit and loss. All acquisition-related costs should be expensed. From January 1, 2010 the Group will apply IFRS 3 (Revised) prospectively to all business combinations.

This report has not been subject to special examination by Trelleborg AB's auditors.

	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Excluding items affecting comparability
Net sales	2,548	2,862	10,855	11,169
Operating profit	148	117	775	744
EBITDA margin, %	9.6	7.2	10.5	9.9
Operating margin (ROS), %	6.1	4.0	7.2	6.6
Operating cash flow	-135	285	1,278	1,698
Operating cash flow/operating profit, %	neg	244	165	228
Including items affecting comparability
Operating profit	134	112	603	581
ROS, %	5.5	3.8	5.6	5.2

Trelleborg Engineered Systems

Additional key ratios on pages 13 - 15

Market trend. Demand for input goods for the industrial sector generally improved compared with the year-earlier period, however the long winter resulted in lower demand from the construction industry in Scandinavia. Demand within offshore oil/gas gradually improved within certain sub segments during the period while demand within infrastructure was below the level recorded in the corresponding period in 2009.

Net sales. Net sales during the quarter declined 11 percent compared with the corresponding period in 2009. Organic sales were -3 percent, exchangerate effects were negative at 8 percent and effects of structural changes were 0 percent.

Operating profit and cash flow. Operating profit and operating margin for the quarter improved compared with the preceding year due primarily to a more cost-efficient structure. The decline in sales for project-related operations caused a slight negative impact on the product mix.

To enhance competitiveness and the production structure, a concentration of the number of production units in some countries in Europe is in progress. The business area continuously reviews opportunities to make further improvements to the production structure.

Cash flow was weaker during the quarter compared with the year-earlier period, mainly as a result of increase in tied up working capital driven by volume increases at the end of the period in both sales and production.

	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Excluding items affecting comparability
Net sales	2,500	1,826	9,076	8,402
Operating profit	162	-175	338	1
EBITDA margin, %	10.4	neg	8.3	5.1
Operating margin (ROS), %	6.4	neg	3.6	neg
Operating cash flow	98	-17	560	445
Operating cash flow/operating profit, %	60	neg	166	44,500
Including items affecting comparability
Operating profit	159	-183	284	-58
ROS, %	6.3	neg	3.0	neg

Trelleborg Automotive

Additional key ratios on pages 13 - 15

Market trend. During the quarter, global light vehicle production increased sharply compared with the corresponding period in 2009. Production in all geographic regions was higher than in the first quarter of 2009, with the largest increase in percentage terms recorded in North America and Asia.

Net sales. Net sales during the quarter increased 37 percent compared with the corresponding period in the preceding year. Organic sales increased 48 percent, exchange-rate effects were negative at 11 percent and effects of structural changes were 0 percent.

Operating profit and cash flow. There was a marked improvement in operating profit compared with the year-earlier period. The earnings were primarily improved by higher volumes and improved cost coverage resulting from implemented structural programs and other capacity and cost adaptations.

The relocation of production at the Fluid Solutions business unit from France to Turkey has now been completed and is generating a favorable contribution to earnings.

The business area is now continuing to aggressively strengthen its position as the largest supplier in global terms of antivibration products to the light vehicles industry by establishing proprietary production in Nizhny Novgorod in Russia. The first deliveries are scheduled to take place around mid-2010 (see separate press release dated April 20, 2010).

Operating cash flow remained strong in relation to increasing sales, primarily as a result of an improvement in the generation of earnings and continued efficient management of working capital.

	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Excluding items affecting comparability
Net sales	1,350	1,276	4,747	4,673
Operating profit	171	41	410	280
EBITDA margin, %	16.3	7.7	13.0	10.6
Operating margin (ROS), %	12.7	3.2	8.7	6.0
Operating cash flow	132	122	793	783
Operating cash flow/operating profit, %	77	298	193	280
Including items affecting comparability
Operating profit	166	39	255	128
ROS, %	12.3	3.1	5.4	2.8

Trelleborg Sealing Solutions

Additional key ratios on pages 13 - 15

Market trend. Demand in the industrial sector rose compared with the first quarter of 2009, partly caused by inventory changes. For light vehicles, demand improved distinctly compared with the corresponding period in 2009. Within aerospace, demand declined compared with the year-earlier period.

Net sales. Net sales during the quarter increased 6 percent compared with the corresponding period in 2009. Organic sales increased 18 percent, exchange-rate effects were negative 11 percent and structural changes negative 1 percent.

Operating profit and cash flow. Operating profit improved compared with the corresponding period in the preceding year as a result of a significant reduction in costs and volume growth.

The consolidation of units in Italy and the US continues. The business area continuously reviews opportunities to make further improvements to the production structure.

The business area is making a strategic investment to establish a center of excellence for certain production processes and industrial niche segments in Bangalore, India. The total investment is valued at slightly below SEK 100 M (see separate press release dated April 20, 2010).

Operating cash flow remained strong in relation to increasing sales, primarily as a result of an improvement in the generation of earnings and continued efficient management of working capital.

	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Excluding items affecting comparability
Net sales	725	950	2,766	2,991
Operating profit	76	102	257	283
EBITDA margin, %	13.8	13.5	12.8	12.8
Operating margin (ROS), %	10.5	10.8	9.3	9.5
Operating cash flow	-39	122	359	520
Operating cash flow/operating profit, %	neg	120	140	184
Including items affecting comparability
Operating profit	72	100	239	267
ROS, %	9.9	10.6	8.6	8.9

Trelleborg Wheel Systems

Additional key ratios on pages 13 - 15

Market trend. In the agricultural sector, there was a marked decline compared with first quarter in 2009 due to a sharp downturn in the production of new agricultural equipment. Global demand for industrial tires from manufacturers of material-handling equipment improved somewhat compared with the corresponding period in 2009.

Net sales. Net sales during the quarter declined 24 percent compared with the preceding year. Organic sales were -18 percent, exchange-rate effects were negative 6 percent and structural changes were 0 percent.

Operating profit and cash flow. Despite a sharp drop in volumes, the business area maintained its operating margin for the quarter at the same level as in the preceding year. Contributing factors included a positive product and channel mix, a clear focus on core customers and a flexible cost structure, where recently implemented focusing of production of industrial tires to Sri Lanka has started to yield results.

To strengthen its position in high-performance agricultural tires, further investments were initiated in a new, innovative production process at the production unit in Tivoli, Italy, that will generate improved performance, efficiency and quality.

The business area continues to expand its product-range to further strengthen the position as a supplier of complete solutions.

Cash flow was weaker during the quarter compared with the corresponding period in 2009, primarily due to a rise in tied-up capital resulting from increased sales volumes towards the end of the quarter and inventory levels that not yet have been adjusted to existing volumes.

Financial statements

Income Statements

Group	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Net sales	7,054	6,877	27,236	27,059
Cost of goods sold	-5,239	-5,375	-20,541	-20,677
Gross profit	1,815	1,502	6,695	6,382
Selling expenses	-549	-632	-2,266	-2,349
Administrative expenses	-606	-675	-2,434	-2,503
Research and development costs	-159	-167	-611	-619
Other operating income/expense	3	15	-161	-149
Profit from part. in assoc. companies	-3	3	5	11
Operating profit	501	46	1,228	773
Financial income and expenses	-70	-139	-335	-404
Profit before tax	431	-93	893	369
Tax	-139	158	-247	50
Profit for the period	292	65	646	419
Profit attributable to:
Equity holders of the parent	285	65	629	409
Minority interest	7	0	17	10

Earnings per share	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK	2010	2009	Mar 2010	2009
Earnings per share	1.05	0.35	2.40	1.70

Number of shares
End of period	271,071,783	90,357,261	271,071,783	271,071,783
Average number 1)	271,071,783	198,178,530	258,922,908	240,699,594
1) Following the rights issue, the average number of shares was adjusted according to guidelines in IAS 33. This calculation

method has been applied throughout this report in all key figures that include the number of shares.

Statements of comprehensive income

	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Profit for the period	292	65	646	419
Other comprehensive income
Cash flow hedges	1	-1	88	86
Hedging of net investment	386	-140	972	446
Translation difference	-714	410	-1,886	-762
Income tax relating to components of other comprehensive income	-102	38	-300	-160
Other comprehensive income, net of tax	-429	307	-1,126	-390
Total comprehensive income	-137	372	-480	29
Profit attributable to:
Equity holders of the parent	-147	374	-503	18
Minority interest	10	-2	23	11

Balance Sheets
Group	Mar 31	Mar 31	Dec 31
SEK M	2010	2009	2009
Property, plant and equipment	6,284	7,246	6,603
Intangible assets	10,812	12,102	11,282
Financial assets	1,438	1,798	1,620
Total non-current assets	18,534	21,146	19,505
Inventories	3,533	4,598	3,425
Current operating receivables	6,396	6,987	5,940
Current interest-bearing receivables	110	152	78
Cash and cash equivalents	558	501	591
Total current assets	10,597	12,238	10,034
Total assets	29,131	33,384	29,539
Shareholders' equity, excluding minority share	12,111	10,527	12,267
Minority share	113	83	94
Total equity	12,224	10,610	12,361
Non-current interest-bearing liabilities	5,754	10,897	6,516
Other non-current liabilities	1,380	1,859	1,559
Total non-current liabilities	7,134	12,756	8,075
Interest-bearing current liabilities	3,326	2,738	2,529
Other current liabilities	6,447	7,280	6,574
Total current liabilities	9,773	10,018	9,103
Total equity and liabilities	29,131	33,384	29,539

Specification of changes in equity	Mar 31	Mar 31	Dec 31
SEK M	2010	2009	2009
Attributable to equity holders of the parent
Opening balance, January 1	12,267	10,153	10,153
Adjustment opening balance	-9	-	-
Total comprehensive income	-147	374	18
Reduction of share capital 1)	-	-	-2,078
Bonus issue 1)	-	-	2,078
Rights issue	-	-	2,169
Transaction costs 2)	-	-	-73
Closing balance	12,111	10,527	12,267
Attributable to minority interest
Opening balance, January 1	94	85	85
Adjustment opening balance	9	-	-
Total comprehensive income	10	-2	11
Dividend	-	0	-2
Closing balance	113	83	94
Sum total equity, closing balance	12,224	10,610	12,361

1) In accordance with the proposal by the Board of Directors, with the purpose to render possible and facilitate the rights issue, the Annual General Meeting on April 23, 2009 resolved to reduce the share capital by SEK 2,078,217,003, without redemption of shares, changing the shares' quota value from SEK 25 to SEK 2. The Annual General Meeting also resolved on a bonus issue of SEK 2,078,217,003, as a measure to ensure that neither the restricted equity, nor the share capital, will be reduced.

2) Includes tax effect of 25,8 SEK M (26,3%), which is not affecting cash flow during this period.

Cash flow statements

Group	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Operating activities
Operating profit	501	46	1,228	773
Adjustments for items not included in cash flow:
Depreciation, property, plant and equipment	227	245	939	957
Depreciation, intangible assets	37	42	162	167
Impairment losses, property, plant and equipment	0	5	36	41
Impairment losses, intangible assets	2	0	7	5
Provision for restructuring costs	29	11	362	344
Undistributed result from part. in assoc. companies	6	7	12	13
	802	356	2,746	2,300
Interest received and other financial items	2	12	5	15
Interest paid and other financial items	-227	-344	-430	-547
Taxes paid	-72	-8	-322	-258
Cash flow from operating activities before changes in
working capital	505	16	1,999	1,510
Cash flow from changes in working capital:
Change in inventories	-203	289	733	1,225
Change in operating receivables	-661	598	-20	1,239
Change in operating liabilities	175	-531	-53	-759
Utilization of restructuring provisions	-112	-112	-680	-680
Cash flow from operating activities	-296	260	1,979	2,535
Investing activities
Acquisitions	-1	-21	-43	-63
Capital expenditure, property, plant and equipment	-106	-219	-641	-754
Capital expenditure in intangible assets	-7	-20	-59	-72
Sale of non-current assets	8	5	39	36
Cash flow from investing activities	-106	-255	-704	-853
Financing activities
Rights issue	-	-	2,070	2,070
Change in interest-bearing investments	319	544	460	685
Change in interest-bearing liabilities	46	-814	-3,731	-4,591
Dividend paid to minority	-	0	-2	-2
Cash flow from financing activities	365	-270	-1,203	-1,838
Cash flow for the period	-37	-265	72	-156
Cash and cash equivalents:
At beginning of the period	591	749	501	749
Exchange rate differences	4	17	-15	-2
Cash and cash equivalents at end of period	558	501	558	591

Group review

	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Excluding items affecting comparability
Net sales	7,054	6,877	27,236	27,059
EBITDA	796	349	2,734	2,287
Operating profit	530	63	1,630	1,163
Profit for the period	314	78	939	703

Net sales	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Trelleborg Engineered Systems	2,548	2,862	10,855	11,169
Trelleborg Automotive	2,500	1,826	9,076	8,402
Trelleborg Sealing Solutions	1,350	1,276	4,747	4,673
Trelleborg Wheel Systems	725	950	2,766	2,991
Eliminations	-69	-37	-208	-176
Total	7,054	6,877	27,236	27,059

EBITDA 1)	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Excluding items affecting comparability
Trelleborg Engineered Systems	238	210	1,137	1,109
Trelleborg Automotive	264	-67	764	433
Trelleborg Sealing Solutions	220	98	619	497
Trelleborg Wheel Systems	100	128	355	383
Other companies	-3	-3	-6	-6
Group items	-23	-17	-135	-129
Total excluding items affecting comparability	796	349	2,734	2,287
Items affecting comparability
Trelleborg Engineered Systems	-14	0	-155	-141
Trelleborg Automotive	-3	-8	-49	-54
Trelleborg Sealing Solutions	-5	-1	-137	-133
Trelleborg Wheel Systems	-4	-2	-18	-16
Other	-3	-	-3	-
Total items affecting comparability	-29	-11	-362	-344
Total including items affecting comparability	767	338	2,372	1,943

1) Operating profit before depreciations, amortizations and impairment losses.

EBITDA 1)	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
%	2010	2009	Mar 2010	2009
Excluding items affecting comparability
Trelleborg Engineered Systems	9.6	7.2	10.5	9.9
Trelleborg Automotive	10.4	neg	8.3	5.1
Trelleborg Sealing Solutions	16.3	7.7	13.0	10.6
Trelleborg Wheel Systems	13.8	13.5	12.8	12.8
Total excluding items affecting comparability	11.3	5.0	10.0	8.4
Including items affecting comparability
Trelleborg Engineered Systems	9.0	7.2	9.1	8.6
Trelleborg Automotive	10.3	neg	7.8	4.4
Trelleborg Sealing Solutions	15.9	7.5	10.2	7.8
Trelleborg Wheel Systems	13.1	13.3	12.1	12.3
Total including items affecting comparability	10.9	4.9	8.7	7.1

1) Operating profit before depreciations, amortizations and impairment losses excluding participations in associated companies in relation to net sales.

Operating profit	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Excluding items affecting comparability
Trelleborg Engineered Systems	148	117	775	744
Trelleborg Automotive	162	-175	338	1
Trelleborg Sealing Solutions	171	41	410	280
Trelleborg Wheel Systems	76	102	257	283
Other companies	-3	-3	-8	-8
Group items	-24	-19	-142	-137
Total excluding items affecting comparability	530	63	1,630	1,163
Items affecting comparability
Trelleborg Engineered Systems	-14	-5	-172	-163
Trelleborg Automotive	-3	-8	-54	-59
Trelleborg Sealing Solutions	-5	-2	-155	-152
Trelleborg Wheel Systems	-4	-2	-18	-16
Other	-3	-	-3	-
Total items affecting comparability	-29	-17	-402	-390
Total including items affecting comparability	501	46	1,228	773

Operating margin, (ROS) 1)	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
%	2010	2009	Mar 2010	2009
Excluding items affecting comparability
Trelleborg Engineered Systems	6.1	4.0	7.2	6.6
Trelleborg Automotive	6.4	neg	3.6	neg
Trelleborg Sealing Solutions	12.7	3.2	8.7	6.0
Trelleborg Wheel Systems	10.5	10.8	9.3	9.5
Total excluding items affecting comparability	7.6	0.9	6.0	4.3
Including items affecting comparability
Trelleborg Engineered Systems	5.5	3.8	5.6	5.2
Trelleborg Automotive	6.3	neg	3.0	neg
Trelleborg Sealing Solutions	12.3	3.1	5.4	2.8
Trelleborg Wheel Systems	9.9	10.6	8.6	8.9
Total including items affecting comparability	7.1	0.6	4.5	2.8

1) Operating profit excluding participations in associated companies in relation to net sales.

Capital employed 1)	Mar 31	Mar 31	Dec 31
SEK M	2010	2009	2009
Trelleborg Engineered Systems	6,797	7,866	6,711
Trelleborg Automotive	4,490	5,079	4,528
Trelleborg Sealing Solutions	6,894	8,118	7,156
Trelleborg Wheel Systems	1,897	2,182	1,835
Other companies	42	21	48
Group items	11	4	3
Provision for restructing costs and legal costs	-424	-790	-526
Total	19,707	22,480	19,755

1) Total assets less interest-bearing investments and non-interest bearing operating liabilities

(including pension liabilities) and excluding tax receivables and tax liabilities.

Return on capital employed, (ROCE) 1)	Apr 2009 -	Apr 2008 -	Full year
%	Mar 2010	Mar 2009	2009
Excluding items affecting comparability
Trelleborg Engineered Systems	10.9	12.6	10.0
Trelleborg Automotive	7.2	neg	0.0
Trelleborg Sealing Solutions	5.6	9.0	3.7
Trelleborg Wheel Systems	13.2	18.0	13.9
Total excluding items affecting comparability	7.7	5.6	5.3
Including items affecting comparability
Trelleborg Engineered Systems	8.6	11.8	7.9
Trelleborg Automotive	6.4	neg	neg
Trelleborg Sealing Solutions	3.5	8.6	1.7
Trelleborg Wheel Systems	12.3	17.4	13.3
Total including items affecting comparability	6.0	neg	3.6

1) Operating profit in relation to average capital employed.

Cash flow report				Capital		Sold non		Change in		Total cash flow
		EBITDA 1)		expenditure		current assets		working capital	Jan - Mar	Jan - Mar	Apr 2009 -
SEK M	2010	2009	2010	2009	2010	2009	2010	2009	2010	2009	Mar 2010
Trelleborg Engineered Systems	256	231	-47	-80	1	1	-345	133	-135	285	1,278
Trelleborg Automotive	269	-58	-34	-101	0	2	-137	140	98	-17	560
Trelleborg Sealing Solutions	224	104	-12	-22	0	2	-80	38	132	122	793
Trelleborg Wheel Systems	103	133	-19	-36	1	0	-124	25	-39	122	359
Other companies	-3	-3	-	0	6	-	-2	-1	1	-4	-3
Group items	-47	-51	-1	0	-	-	-1	21	-49	-30	-242
Operating cash flow	802	356	-113	-239	8	5	-689	356	8	478	2,745
Utilization of restructuring provisions									-112	-112	-680
Dividend paid to minority									-	-	-2
Financial items									-225	-332	-425
Paid tax									-72	-8	-322
Free cash flow									-401	26	1,316
Acquisitions									-1	-21	-43
Rights issue						-	-	2,070
Sum net cash flow									-402	5	3,343

1) Excluding undistributed result from associated companies and allocated group expenses

Acquisitions	Jan - Mar	Jan - Mar
SEK M	2010	2009
Purchase price	1	-
Acquisition expenses 1)	-	21
Goodwill	1	21

1) Acquisitions costs relating to previous years acquisitions.

Parent Company

Income Statements
Parent company	Jan - Mar	Jan - Mar	Apr 2009 -	Full year
SEK M	2010	2009	Mar 2010	2009
Administrative expenses	-71	-69	-391	-389
Other operating income	17	17	289	289
Operating profit	-54	-52	-102	-100
Financial income and expenses	-97	-160	-453	-516
Profit before tax	-151	-212	-555	-616
Tax	38	55	127	144
Profit for the period	-113	-157	-428	-472

Mar 31	Mar 31	Dec 31
2010	2009	2009
28	30	29
9	11	9
34,289	33,146	34,244
34,326	33,187	34,282
32	91	52
1,534	1,648	1,665
2	0	-
1,568	1,739	1,717
35,894	34,926	35,999
10,889	8,498	11,005
10,889	8,498	11,005
51	52	51
3	6	6
54	58	57
24,860	26,309	24,845
91	61	92
24,951	26,370	24,937
35,894	34,926	35,999

Invitation to telephone conference on April 20 at 3:00 p.m.

A telephone conference will be held on April 20 at 3:00 p.m. To participate in the telephone conference, call +46 (0)8-5051 3785 or +44 20 7138 0824 and state the code 3419154 or the password "Trelleborg". The conference will also be broadcast in real time on the Internet.

Visit our website at www.trelleborg.com/en/Investors/Presentations for Internet link and presentation materials.

Calendar

Annual General Meeting in Trelleborg April 20, 5:00 p.m. Interim report April-June July 21 Interim Report July-September October 28

For further information, please contact:

Investors/analysts Conny Torstensson, IR Manager Tel: +46 (0)410 – 670 70 Mobile: +46 (0)734 – 08 70 70. E-mail: conny.torstensson@trelleborg.com

Media

Mikael Sjöblom, Media Relations Tel: +46 (0)410 – 670 15 Mobile: +46 (0)733 – 74 70 15 E-mail: mikael.sjoblom@trelleborg.com

Annual Reports, the stakeholder magazine T-TIME and other information on the Trelleborg Group can be ordered from: Trelleborg AB, Corporate Communications, by telephone on +46 (0)410-670 09, by e-mail at info@trelleborg.com or can be downloaded from the Group's website: www.trelleborg.com

Trelleborg AB (publ) Corp. Reg. No. 556006-3421 PO Box 153, SE-231 22 Trelleborg, Sweden Tel: +46 (0)410-670 00, Fax: +46 (0)410-427 63 www.trelleborg.com

This report contains forward-looking statements that are based on the current expectations of the management of Trelleborg. Although management believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove correct. Accordingly, results could differ materially from those implied in the forward-looking statements as a result of, among other factors, changes in economic, market and competitive conditions, changes in the regulatory environment and other government actions, fluctuations in exchange rates and other factors.

This is information of the type that Trelleborg AB (publ) is obligated to disclose in accordance with the Swedish Securities Exchange and Clearing Operations Act and/or the Financial Instruments Trading Act. The information was issued for publication on Tuesday, April 20, 2010 at 2:00 p.m.