Trelleborg — Interim / Quarterly Report 2012

Oct 24, 2012

Third quarter 2012

President and CEO Peter Nilsson

"Trelleborg reports a satisfactory result for the quarter, albeit influenced by the weaker economy. The sales trend was relatively favorable in Asia and North America, while sales in Europe was generally weak. Cash flow was strong, due primarily to efficient inventory management.

We continue to invest to improve our positions in high-growth countries and selected segments. For example, in Brazil, during the quarter we acquired a printing blankets business and inaugurated a facility for manufacturing products for deep-sea oil and gas extraction.

The joint venture TrelleborgVibracoustic has been operational since the beginning of the third quarter. The integration of the two operations has started in a good way and will be intensified to secure the many benefits that the joint venture will bring.

We clearly see that the underlying demand trend is negative in several of our market segments and geographies. During the quarter, measures to adjust operations to the weaker market, has been implemented. This work will continue in the fourth quarter."

Continuing operations:

• Net sales during the third quarter of 2012 declined to SEK 4,961 M (5,187). Organic sales decreased 2 percent (increase: 8).
• Operating profit excluding items affecting comparability and excluding participation in the associated company TrelleborgVibracoustic amounted to SEK 528 M (612), corresponding to an operating margin of 10.6 percent (11.8).
• Operating profit, excluding items affecting profitability and including the participation in the associated company TrelleborgVibracoustic, amounted to SEK 600 M, which corresponds to an operating margin of 12.1 percent. The participation in the associated company TrelleborgVibracoustic is included in operating profit in the amount of SEK 72 M (0). Operating profit for the part of Trelleborg that is now included in TrelleborgVibracoustic was SEK 67 M in the corresponding period in 2011.
• Operating profit including the participation in associated companies and including items affecting comparability amounted to SEK 588 M (566). The quarter was charged with items affecting comparability of -12 MSEK (expense: 46).
• Net profit amounted to SEK 398 M (396) and earnings per share were SEK 1.45 (1.45).
• Earnings per share excluding items affecting comparability were SEK 1.50 (1.55).
• The operating cash flow was SEK 625 M (584). Free cash flow was SEK 482 M (477).

Market outlook for the fourth quarter of 2012

Market outlook for the fourth quarter of 2012. Demand is expected to be lower than in the third quarter of 2012, adjusted for seasonal variations.

Key ratios, continuing operations 1)	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK M	2012	2011	2012	2011	Sep 2012	2011
Net sales	4,961	5,187	16,296	15,939	21,400	21,043
EBITDA excl items aff comp and part in assoc comp	685	778	2,402	2,331	2,944	2,873
EBITDA margin, %	13.8	15.0	14.7	14.6	13.8	13.7
Operating profit excl items aff comp and part in assoc comp	528	612	1,896	1,855	2,272	2,231
Operating margin (ROS), %	10.6	11.8	11.6	11.6	10.6	10.6
Operating profit incl items aff comp excl part in assoc comp	516	566	2,036	1,780	2,349	2,093
Operating profit excl items aff comp incl part in assoc comp	600	612	1,968	1,855	2,344	2,231
Operating margin (ROS), %	12.1	11.8	12.1	11.6	11.0	10.6
Operating profit incl items aff comp and part in assoc comp	588	566	2,108	1,780	2,421	2,093
Profit before tax	549	539	1,991	1,686	2,234	1,929
Net profit	398	396	1,544	1,200	1,677	1,333
Earnings per share incl items aff comp, SEK	1.45	1.45	5.65	4.40	6.15	4.90
Earnings per share excl items aff comp, SEK	1.50	1.55	5.10	4.60	5.75	5.25
Return on capital employed ROCE R12 %, excl items aff comp					13.2	13.6
Return on capital employed ROCE R12 %, incl items aff comp					13.7	12.8

Continuing operations July - September 2012

1) Participations in TrelleborgVibracoustic is only included in 2012 data. Operating profit excluding items affecting comparability for the part of Trelleborg that is now included in TrelleborgVibracoustic was SEK 67 M in the period Jul - Sep 2011.

Organic sales declined 2 percent (increase: 8)

Operating profit was SEK 588 M (566)

Net sales. The Trelleborg Group's net sales for the third quarter of 2012 for continuing operations totaled SEK 4,961 M (5,187), a decline of 4 percent (increase: 8). Organic sales declined 2 percent (increase: 8). The effects of structural changes were 0 percent (5) while exchange-rate effects were a negative 2 percent (neg: 5).

Change in net sales, continuing operations	Jul - Sep	Jul - Sep
%	2012	2011
Organic sales	-2	+ 8
Structural changes	0	+ 5
Exchange-rate effects	-2	- 5
Total	-4	+ 8

The Group's sales to the offshore oil/gas, infrastructure and aerospace segments were higher than in the third quarter of 2011. Sales to other segments were lower than in the year-earlier period.

Sales to the offshore oil/gas, infrastructure and aerospace segments were on a par with the second quarter of 2012 while sales to other segments were lower.

Earnings. Operating profit for the quarter was to SEK 588 M (566).

Profit excluding items affecting comparability and participation in associated companies amounted to SEK 528 M (612). During the quarter, the Group initiated the adjustment of production to the prevailing economic climate and enhanced the efficiency of its inventory management, which had a somewhat negative effect on earnings. Currency translation had a negative impact on operating profit of approximately SEK 20 M compared with the corresponding period last year.

Trelleborg's holding in TrelleborgVibracoustic was recognized in accordance with the equity method as of July 2012. The participation in the associated company TrelleborgVibracoustic is included in operating profit in the amount of SEK 72 M (0). Operating profit excluding items affecting comparability for the part of Trelleborg that is now included in TrelleborgVibracoustic was SEK 67 M in the corresponding period in 2011.

Profit before tax increased to SEK 549 M (539). Net profit amounted to SEK 398 M (396). The tax rate was 28 percent (27). Earnings per share were SEK 1.45 (1.45).

Return. The return on capital employed, excluding items affecting comparability, for the past 12-month period was 13.2 percent (full-year 2011: 13.6).

Continuing operations	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK M	2012	2011	2012	2011	Sep 2012	2011
Operating cash flow	625	584	1,147	919	1,767	1,539
Utilization of restructuring provisions/sale of property	-18	-43	119	-136	32	-223
Dividend - non-controlling interest	-	-	-5	-2	-6	-3
Financial items	-35	9	-133	-190	-181	-238
Paid tax	-90	-73	-304	-270	-434	-400
Free cash flow	482	477	824	321	1,178	675

Free cash flow was SEK 482 M (477)

Cash flow. Operating cash flow for the period amounted to SEK 625 M (584). The slightly lower operating profit excluding participation in associated companies was more than sufficiently offset by a positive change in working capital due primarily to efficient inventory management. The investment level during the quarter was SEK 205 M (222). Free cash flow was SEK 482 M (477).

Change in net debt	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Full year
SEK M	2012	2011	2012	2011	2011
Net debt, opening balance	-6,691	-7,070	-6,425	-6,409	-6,409
Net cash flow for the period	680	425	394	-515	-67
Disposals	-	-	-	98	98
Exchange rate differences	363	-347	383	-166	-47
Net debt, closing balance	-5,648	-6,992	-5,648	-6,992	-6,425
Debt/equity ratio, %			41	52	48
Net Debt/EBITDA continuing operations incl items aff comp, R12			1.8	2.5	2.3

Net debt. Compared with December 2011, net debt declined by SEK 777 M and amounted to SEK -5,648 M (-6,992). Net debt was positively impacted by interest-bearing receivables from the associated company

TrelleborgVibracoustic amounting to some SEK 800 M. The interest-bearing receivables will be repaid when the company's external financing is in place, which is expected to be in the fourth quarter of 2012.

Debt/equity ratio was 41 percent (52)

The debt/equity ratio was 41 percent (52). Net debt in relation to EBITDA for continuing operations including items affecting comparability was 1.8 (2.5).

Shareholders' equity. Shareholders' equity for the Group at the close of the period amounted to SEK 13,798 M (13,327), excluding non-controlling interests. Equity per share amounted to SEK 50.90 (49.15). The equity/asset ratio was 50 percent (45).

Return on shareholders' equity for the most recent 12-month period was 15.1 percent (14.4).

Continuing operations January - September 2012

Net sales. The Trelleborg Group's net sales for continuing operations for the first nine months of 2012 totaled SEK 16,296 M (15,939), up 2 percent compared with the year-earlier period. Organic sales increased 1 percent (13). Structural changes represented an impact of 0 percent (3) while exchange rates had a positive impact of 1 percent (negative: 8).

Earnings. Operating earnings including participation in the associated company TrelleborgVibracoustic for the first nine months of 2012 amounted to SEK 2,108 M (1,780). Items affecting comparability amounted to income of SEK 140 M (expense: 75). Trelleborg's holding in TrelleborgVibracoustic was recognized in accordance with the equity method as of July 2012. The share in profit before tax amounted to SEK 72 M (0).

Profit before tax totaled SEK 1,991 M (1,686). Net profit was SEK 1,544 M (1,200). Earnings per share were SEK 5.65 (4.40).

Cash flow. Operating cash flow during the first nine months of 2012 was SEK 1,147 M (919).

Capital employed. At the end of the period, capital employed totaled SEK 16,695 M (17,060) excluding the participation in TrelleborgVibracoustic, which totaled SEK 2,843 M (0). The associated company was formed in July, 2012, hence there is no comparable data for 2011.

The Group in total January - September 2012

Net sales. Consolidated net sales during the first nine months of 2012 totaled SEK 20,271 M (22,044), down 8 percent compared with the yearearlier period. During the January - September 2011 period, net sales in Trelleborg Automotive were consolidated for the entire period and amounted to SEK 5 318 M. For 2012, these units were only included in the first six months and net sales for that period amounted to M 3 755 SEK.

Earnings. Operating profit for the first nine months of 2012 amounted to SEK 2,450 M (2,230). The net financial expense was SEK 153 M (expense: 146), corresponding to an average interest rate of 3.1 percent (2.9). Profit before tax amounted to SEK 2,297 M (2,084). Net profit amounted to SEK 1,800 M (1,572). Earnings per share were SEK 6.60 (5.75).

Important events during the quarter

Structural changes July - September 2012

Joint venture in antivibration solutions, TrelleborgVibracoustic	Joint venture in antivibration solutions. In July 2012, Trelleborg and Freudenberg formed a 50/50 joint venture in antivibration solutions for light and heavy vehicles, TrelleborgVibracoustic. The company is recognized as an associated company in the financial accounts and recognized in accordance with the equity method, see page 10 and 19 for further information. The joint venture comprises Trelleborg's former antivibration solutions operation of Trelleborg Automotive business area and Freudenberg's corresponding operations, Vibracoustic. As of the third quarter of 2012, the Trelleborg Automotive business area is no longer a part of the Trelleborg Group's business area structure since the operation is included in the joint venture.
Acquisition of printing blankets business in Brazil	Acquisition of printing blankets business. Trelleborg Engineered Systems completed the acquisition of Printec, the printing blankets business of Day Brazil SA. Printec has a strong presence in Latin America and in the U.S. with a single production facility in Brazil. Printec has annual sales of approximately SEK 250 M and about 160 employees. The acquisition strengthens Trelleborg's leading position in the area of printing blankets, which are used for offset printing on, for example, packaging material.
	Other
Nomination Committee for 2013 AGM	Nomination Committee. At Trelleborg AB's Annual General Meeting on April 19, 2012, the Chairman of the Board was assigned the task of asking five major shareholders in the Company to appoint one member each to the Nomination Committee, that will prepare proposals regarding Board members to be presented to the 2013 Annual General Meeting for resolution.
	The following persons have agreed to participate in the Nomination Committee:
	- Rolf Kjellman, Henry and Gerda Dunker Foundation - Henrik Didner, Didner & Gerge Funds - Peter Rönström, Lannebo Funds - Åsa Nisell, Swedbank Robur Funds - Johan Strandberg, SEB Investment Management
	The Annual General Meeting will be held in Trelleborg on April 24, 2013 at 5:00 p.m.
	The Chairman of the Board, Anders Narvinger, has after fourteen years as Board member, including eleven years as its Chairman, declared that he is not available for re-election.
	Shareholders wishing to submit proposals regarding candidates for the Board of Trelleborg may address these by e-mail to valberedningen@trelleborg.com or directly to the Chairman of the Board Anders Narvinger or any of the above-mentioned members of the Nomination Committee.

Events after the close of the period

There were no significant events to report after the close of the period.

Risk management

Risk/risk management at Trelleborg. Trelleborg focuses continuously on identifying, evaluating and managing risks arising in the Group's companies, business areas, business units and processes. Trelleborg has an Enterprise Risk Management process (ERM process) which aims to provide a Groupwide overview of Trelleborg's risks, deliver a basis for risk management decisions and enable assessment of the risks and of how they are managed.

The principal risks and uncertainties currently faced by the Group relate to the economy's effect on demand, supply and price movements of raw materials and components, structural programs and financial business environment risks.

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 fourth quarter of 2012. Demand is expected to be lower than in the third quarter of 2012, adjusted for seasonal variations.

Outlook from the interim report published on July 19, 2012:

Market outlook for the third quarter of 2012. Demand is expected to be somewhat lower than in the second quarter of 2012, adjusted for seasonal variations.

Trelleborg, October 24, 2012 Board of Directors of Trelleborg AB (publ)

This report has been prepared in accordance with IAS 34 Interim Financial Reporting and applicable rules of the Annual Accounts Act. The interim report for the Parent Company has been prepared in accordance with Chapter 9 of the Annual Accounts Act, Interim Reports. 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.

This report has not been subject to special review by the company's auditors.

_____________________________________________________________

Continuing operations	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK M	2012	2011	2012	2011	Sep 2012	2011
Excluding items affecting comparability
Net sales	1,706	1,864	5,623	5,582	7,329	7,288
Operating profit	343	422	1,236	1,194	1,537	1,495
Operating margin (ROS), %	20.0	22.6	21.9	21.4	20.9	20.5
EBITDA margin, %	22.5	25.4	24.8	24.0	23.9	23.3
Operating cash flow	540	459	1,241	1,015	1,587	1,361
Including items affecting comparability
Operating profit	342	413	1,231	1,176	1,530	1,475
ROS, %	19.9	22.2	21.8	21.1	20.8	20.2

Trelleborg Sealing Solutions

Additional key ratios on pages 14 - 16

Market trend. The underlying demand trend for the general industry segment remained weak in Europe. In North America, the stable demand trend persisted. In the aerospace segment, the favorable trend continued while development was weak in the light vehicles segment in Europe.

Net sales. Net sales for the quarter declined 8 percent compared with the year-earlier period. Organic sales fell 6 percent, effects of structural changes represented 0 percent and exchange-rate effects a negative 2 percent.

Operating profit and cash flow. The operating profit and margin remained healthy. During the quarter, the business area initiated an adjustment of its production to the prevailing economic climate and enhanced the efficiency of its inventory management, which had a somewhat negative impact on earnings.

Operating cash flow remained strong in the quarter due to efficient management of working capital.

Other. The establishment of a new production facility in North America for the development and production of products with high cleanliness requirements (cleanroom manufacturing) and the expansion of a production unit for the corresponding production activities in Europe continued. These facilities create a platform for growth in such areas as the life sciences segment.

The business area continued to successfully focus on digital solutions as a way to enhance service to existing and new customers.

Continuing operations	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK M	2012	2011	2012	2011	Sep 2012	2011
Excluding items affecting comparability
Net sales	852	953	3,032	2,909	3,986	3,863
Operating profit	88	98	377	302	476	401
Operating margin (ROS), %	10.4	10.3	12.4	10.4	11.9	10.4
EBITDA margin, %	13.2	12.9	14.8	12.7	14.4	12.7
Operating cash flow	3	8	-36	-34	183	185
Including items affecting comparability
Operating profit	88	98	377	302	476	401
ROS, %	10.4	10.3	12.4	10.4	12.0	10.4

Trelleborg Wheel Systems

Additional key ratios on pages 14 - 16

Market trend. The underlying demand trend for the quarter was generally negative, particularly in Europe where a number of OEM of tractors has decreased rates of production. The stable demand trend in North America for material handling vehicles persisted. The demand trend was similar for both OEM and aftermarket in respective region.

Net sales. Net sales during the quarter declined 11 percent compared with the year-earlier period. Organic sales declined 7 percent; structural changes represented 0 percent and exchange-rate effects a negative 4 percent.

Operating profit and cash flow. Operating profit declined compared with the year-earlier period, primarily as a result of the fall-off in sales.

Operating cash flow followed seasonal variations but was impacted by increased investments.

Other. The business area's new production facility in Xingtai, Hebei Province, China, performed favorably. Demand for tires from new local customers was relatively strong, albeit from low levels. The facility manufacturers tires, primarily for the agricultural sector, for sale in the Chinese market and for export.

Interfit, a business specialized in forklift tire and wheel service, continued to perform well and reach new markets and customers.

Continued focus is being directed on the extra-large agricultural tire subsegment, where Trelleborg has a broad range.

Continuing operations	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK M	2012	2011	2012	2011	Sep 2012	2011
Excluding items affecting comparability
Net sales	2,466	2,448	7,910	7,686	10,417	10,193
Operating profit	132	183	463	613	534	684
Operating margin (ROS), %	5.4	7.5	5.9	8.0	5.1	6.7
EBITDA margin, %	8.8	11.0	9.1	11.2	8.4	10.0
Operating cash flow	208	182	257	195	397	335
Including items affecting comparability
Operating profit	125	149	428	572	452	596
ROS, %	5.1	6.1	5.4	7.5	4.3	5.8

Trelleborg Engineered Systems

Additional key ratios on pages 14 - 16

Market trend. Underlying markets for project-related operations continued to perform well during the quarter. The general industry segment noted a weak demand trend.

Net sales. Net sales for the quarter rose by 1 percent compared with the year-earlier period. Organic sales increased 3 percent; effects of structural changes were 0 percent and exchange-rate effects a negative 2 percent.

Operating profit and cash flow. Operating profit decreased compared to the year-earlier period, primarily due to declining volumes in general and construction-related industries, as well as due to mix effects. These effects derived from project-related operations that had favorable volume trends and whose margins were in line with the business cycle, but lower than the average for other parts of the business area.

Growth initiatives in Brazil in offshore oil/gas and coated fabrics for advanced industrial applications resulted in further costs in the quarter.

A number of measures to adjust production rates and inventory levels to the current economic situation were implemented during the quarter. Labor adjustments have been made. Overall, these measures resulted in a stronger cash flow while margins were affected in the opposite direction.

Other. The business area completed the acquisition of Printec, the printing blankets business of Day Brazil SA. See page 5 for further information.

A newly constructed facility was inaugurated in Brazil during the quarter. The facility will produce high-performance polymer and syntactic foam-based solutions for the offshore industry, such as various buoyancy products.

Activities in the offshore oil/gas segment remain high. The market outlook gives cause for further measures, aimed at

increasing efficiency and profitability, for the business area.

TrelleborgVibracoustic joint venture

In July 2012, Trelleborg and Freudenberg formed a 50/50 joint venture in antivibration solutions for light and heavy vehicles, TrelleborgVibracoustic. The company is recognized as an associated company in the financial accounts and recognized in accordance with the equity method, see page 19 for further information. The joint venture comprises Trelleborg's former antivibration solutions operation of Trelleborg Automotive business area and Freudenberg's corresponding operations, Vibracoustic. As of the third quarter of 2012, the Trelleborg Automotive business area is no longer a part of the Trelleborg Group's business area structure since the operation is included in the joint venture.

		proforma 1)	proforma 1)	proforma 1)	proforma 1)	proforma 1)
TrelleborgVibracoustic	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK M	2012	2011	2012	2011	Sep 2012	2011
Net sales	3,375	3,437	10,694	10,151	14,130	13,587
EBITDA	280	316	989	940	1,377	1,328
EBITDA, %	8.3	9.2	9.2	9.3	9.8	9.8
Operating profit excl items aff comparability	173	199	656	601	925	870
Operating margin (ROS), %	5.0	5.7	6.0	5.8	6.4	6.3
Operating cash flow	197	62	-279	-60	216	435
Operating profit incl items aff comparability	162
Profit before tax	144
Net profit	108
Capital employed	3,722
Net debt	1,634
Equity	2,140

Market trend. Global production of light vehicles remained stable during the quarter, with slight growth noted in North America and China. In Europe, the trend was negative, which was also the case in Korea and India.

Net sales. Net sales during the quarter declined 2 percent compared with the year-earlier period. In terms of sales, TrelleborgVibracoustic performed better than the underlying market. Organic sales increased 4 percent; effects of structural changes represented 0 percent and exchange-rate effects a negative 6 percent.

Operating profit and cash flow. The operating profit and operating margin were somewhat lower than in the corresponding period in 2011. Negative exchange-rate effects were offset by higher volumes. The operating margin was impacted by start-up costs for the company.

Cash flow was favorable during the quarter.

Other. The integration of the two operations, Trelleborg Automotive and Vibracoustic, has started in a good way and will be intensified to secure the many benefits that the joint venture will bring.

The assessment is that the company will have external financing in place during the fourth quarter of 2012. In conjunction with this, Trelleborg's financial receivable totaling approximately SEK 800 M will be repaid.

1) Efforts to establish the final acquisition balance and proforma figures are in progress.

Financial statements

Income Statements
Group	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK M	2012	2011	2012	2011	Sep 2012	2011
Continuing operations
Net sales	4,961	5,187	16,296	15,939	21,400	21,043
Cost of goods sold	-3,409	-3,452	-11,015	-10,685	-14,632	-14,302
Gross profit	1,552	1,735	5,281	5,254	6,768	6,741
Selling expenses	-468	-504	-1,531	-1,523	-2,047	-2,039
Administrative expenses	-546	-593	-1,763	-1,760	-2,420	-2,417
Research and development costs	-74	-64	-229	-201	-302	-274
Other operating income/expenses	51	-8	276	10	348	82
Profit from part in assoc companies	1	0	2	0	2	0
Operating profit	516	566	2,036	1,780	2,349	2,093
Profit from part in TrelleborgVibracoustic	72	-	72	-	72	-
Operating profit incl TrelleborgVibraoustic	588	566	2,108	1,780	2,421	2,093
Financial income and expenses	-39	-27	-117	-94	-187	-164
Profit before tax	549	539	1,991	1,686	2,234	1,929
Tax	-133	-143	-429	-486	-539	-596
Tax related to part in TrelleborgVibracoustic	-18	-	-18	-	-18	-
Total tax	-151	-143	-447	-486	-557	-596
Net profit	398	396	1,544	1,200	1,677	1,333
Discontinued operations 1)
Net sales	4	2,004	3,975	6,105	5,977	8,107
Operating profit	3	55	342	450	488	596
Profit before tax	3	28	306	398	459	551
Net profit	0	24	256	372	389	505
Group, total
Net sales	4,965	7,191	20,271	22,044	27,377	29,150
Operating profit	591	621	2,450	2,230	2,909	2,689
Profit before tax	552	567	2,297	2,084	2,693	2,480
Total net profit	398	420	1,800	1,572	2,066	1,838
of which attributable to:
- equity holders of the parent	396	413	1,786	1,557	2,048	1,819
- non-controlling interest	2	7	14	15	18	19
Earnings per share	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK	2012	2011	2012	2011	Sep 2012	2011
Continuing operations	1.45	1.45	5.65	4.40	6.15	4.90
Discontinued operations 1)	0.00	0.10	0.95	1.35	1.40	1.80
Group, total	1.45	1.55	6.60	5.75	7.55	6.70
Number of shares
End of period	271,071,783	271,071,783	271,071,783	271,071,783	271,071,783	271,071,783
Average number	271,071,783	271,071,783	271,071,783	271,071,783	271,071,783	271,071,783
1) Mainly including operations divested to the joint venture TrelleborgVibracoustic in July 2012.

Statements of comprehensive income

	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK M	2012	2011	2012	2011	Sep 2012	2011
Total net profit	398	420	1,800	1,572	2,066	1,838
Other comprehensive income
Cash flow hedges	5	-76	4	-74	4	-74
Hedging of net investment	472	-318	614	-262	804	-72
Translation difference 1)	-734	564	-1,112	400	-1,497	15
Income tax relating to components of other comprehensive
income 1)	-134	114	-159	99	-212	46
Other comprehensive income, net of tax	-391	284	-653	163	-901	-85
Total comprehensive income	7	704	1,147	1,735	1,165	1,753
Total profit for the period
- equity holders of the parent	12	698	1,138	1,722	1,149	1,733
- non-controlling interest	-5	6	9	13	16	20

1) whereof discontinued operations, translation difference SEK -56 M and income tax SEK 16 M included in the period Jul - Sep 2013.

Published on October 24, 2012 11 (20)

Balance Sheets
Group	Sep 30	Sep 30	Dec 31
SEK M	2012	2011	2011
Property, plant and equipment	4,664	5,838	5,958
Intangible assets	8,736	10,615	10,457
Shares in asscociated companies	2,849	50	54
Other financial assets	1,233	1,285	1,230
Total non-current assets	17,482	17,788	17,699
Inventories	3,298	4,183	4,001
Current operating receivables	5,053	6,647	6,025
Current interest-bearing receivables	965	70	213
Cash and cash equivalents	629	1,053	753
Total current assets	9,945	11,953	10,992
Total assets	27,427	29,741	28,691
Equity holders of the parent	13,798	13,327	13,338
Non-controlling interest	46	161	166
Total equity	13,844	13,488	13,504
Non-current interest-bearing liabilities	5,565	5,950	5,452
Other non-current liabilities	868	1,197	1,125
Total non-current liabilities	6,433	7,147	6,577
Interest-bearing current liabilities	2,147	2,384	2,171
Other current liabilities	5,003	6,722	6,439
Total current liabilities	7,150	9,106	8,610
Total equity and liabilities	27,427	29,741	28,691

Specification of changes in equity	Sep 30	Sep 30	Dec 31
SEK M	2012	2011	2011
Attributable to equity holders of the parent
Opening balance, January 1	13,338	12,079	12,079
Total comprehensive income	1,138	1,722	1,733
Dividend	-678	-474	-474
Closing balance	13,798	13,327	13,338
Attributable to non-controlling interest
Opening balance, January 1	166	117	117
Total comprehensive income	9	13	20
Acquisition	-	33	32
Divested operations	-124	-	-
Dividend	-5	-2	-3
Closing balance	46	161	166
Sum total equity, closing balance	13,844	13,488	13,504

Cash flow statements

Group	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK M	2012	2011	2012	2011	Sep 2012	2011
Operating activities
Operating profit incl part in associated companies	516	566	2,108	1,780	2,421	2,093
Adjustments for items not included in cash flow:
Depreciation, property, plant and equipment	144	153	466	443	616	593
Amortization, intangible assets	12	12	34	35	51	52
Impairment losses, property, plant and equipment	1	7	5	8	4	7
Impairment losses, intangible assets	0	0	1	-2	0	-3
Provision for restructuring costs	12	40	63	67	127	131
Other, non cash-flow affecting items	-89	53	-87	51	-102	36
	668	831	2,590	2,382	3,117	2,909
Interest received and other financial items	15	3	26	7	36	17
Interest paid and other financial items	-50	6	-159	-197	-217	-255
Taxes paid	-90	-73	-304	-270	-434	-400
Cash flow from operating activities before changes in working
capital	543	767	2,153	1,922	2,502	2,271
Cash flow from changes in working capital:
Change in inventories	66	-146	11	-592	124	-479
Change in operating receivables	-87	280	-1,002	-341	-576	85
Change in operating liabilities	178	-166	351	-91	248	-194
Utilization of restructuring provisions	-18	-43	-84	-136	-171	-223
Cash flow from operating activities	682	692	1,429	762	2,127	1,460
Investing activities
Acquisitions	-220	-73	-218	-746	-218	-746
Disposals 1)	418	21	466	384	560	478
Capital expenditure, property, plant and equipment	-193	-222	-583	-451	-905	-773
Capital expenditure in intangible assets	-12	-	-28	-6	-62	-40
Sale of non-current assets	5	7	11	18	23	30
Cash flow from investing activities	-2	-267	-352	-801	-602	-1,051
Financing activities
Change in interest-bearing investments	-506	-316	-517	-132	-537	-152
Change in interest-bearing liabilities	-174	109	42	877	-681	154
Dividend - equity holders of the parent	-	-	-678	-474	-678	-474
Dividend - non-controlling interest	-	-	-5	-2	-6	-3
Cash flow from financing activities	-680	-207	-1,158	269	-1,902	-475
Cash flow for the period	0	218	-81	230	-377	-66
Cash and cash equivalents:
At beginning of the period	655	824	753	832	1,053	832
Exchange rate differences	-26	11	-43	-9	-47	-13
Cash and cash equivalents at end of period	629	1,053	629	1,053	629	753

1) Consolidated effect in the Group related to disposed companies.

Group review

Continuing operations
	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK M	2012	2011	2012	2011	Sep 2012	2011
Net sales	4,961	5,187	16,296	15,939	21,400	21,043
Operating profit excl items affecting comparability and part in assoc comp	528	612	1,896	1,855	2,272	2,231
Items aff. comparability, operating profit	-12	-46	140	-75	77	-138
Profit from part in TrelleborgVibracoustic	72	-	72	-	72	-
Operating profit incl items affecting
comparability and part in assoc comp	588	566	2,108	1,780	2,421	2,093

Net sales	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK M	2012	2011	2012	2011	Sep 2012	2011
Trelleborg Sealing Solutions	1,706	1,864	5,623	5,582	7,329	7,288
Trelleborg Wheel Systems	852	953	3,032	2,909	3,986	3,863
Trelleborg Engineered Systems	2,466	2,448	7,910	7,686	10,417	10,193
Other companies	2	30	6	97	20	111
Eliminations	-65	-108	-275	-335	-352	-412
Total	4,961	5,187	16,296	15,939	21,400	21,043

Operating profit, excl items aff comparability	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK M	2012	2011	2012	2011	Sep 2012	2011
Trelleborg Sealing Solutions	343	422	1,236	1,194	1,537	1,495
Trelleborg Wheel Systems	88	98	377	302	476	401
Trelleborg Engineered Systems	132	183	463	613	534	684
Other companies	-1	-20	-21	-64	-42	-85
Group items	-34	-71	-159	-190	-233	-264
Total	528	612	1,896	1,855	2,272	2,231

Operating margin (ROS) excl items aff comp	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
%	2012	2011	2012	2011	Sep 2012	2011
Trelleborg Sealing Solutions	20.0	22.6	21.9	21.4	20.9	20.5
Trelleborg Wheel Systems	10.4	10.3	12.4	10.4	11.9	10.4
Trelleborg Engineered Systems	5.4	7.5	5.9	8.0	5.1	6.7
Total	10.6	11.8	11.6	11.6	10.6	10.6

Capital employed	Sep 30	Sep 30	Dec 31
SEK M	2012	2011	2011
Trelleborg Sealing Solutions	6,995	7,541	7,339
Trelleborg Wheel Systems	2,453	2,348	2,191
Trelleborg Engineered Systems	7,140	7,348	7,195
Other companies	8	74	102
Group items	172	-126	-172
Provision for restr. costs and legal costs	-73	-125	-93
Total	16,695	17,060	16,562

Return on capital employed, (ROCE) excluding items affecting comparability	Oct 2011 -	Oct 2010 -	Full year
%	Sep 2012	Sep 2011	2011
Trelleborg Sealing Solutions	20.9	20.2	20.7
Trelleborg Wheel Systems	19.8	17.0	18.2
Trelleborg Engineered Systems	7.3	12.1	9.7
Total	13.3	14.0	13.6

Cash flow report			Capital Sold non				Change in		Total cash flow
		EBITDA 1)		expenditure		current assets		working capital	Jan - Sep	Jan - Sep	Oct 2011 -
SEK M	2012	2011	2012	2011	2012	2011	2012	2011	2012	2011	Sep 2012
Trelleborg Sealing Solutions	1,413	1,354	-160	-113	4	6	-16	-232	1,241	1,015	1,587
Trelleborg Wheel Systems	462	378	-133	-78	1	2	-366	-336	-36	-34	183
Trelleborg Engineered Systems	753	910	-285	-239	4	9	-215	-485	257	195	397
Other companies	-7	8	-1	-13	2	-	9	-1	3	-6	-41
Group items	-234	-268	-32	-14	-	1	-52	30	-318	-251	-359
Operating cash flow	2,387	2,382	-611	-457	11	18	-640	-1,024	1,147	919	1,767
Utilization of restructuring provisions/sale of property									119	-136	32
Dividend - non-controlling interest									-5	-2	-6
Financial items									-133	-190	-181
Paid tax									-304	-270	-434
Free cash flow									824	321	1,178
Acquisitions									-218	-746	-218
Disposals									466	384	560
Dividend - equity holders of the parent									-678	-474	-678
Sum net cash flow									394	-515	842

1) Excluding other non cash-flow affecting items

Acquisitions

The acquisition of the printing blankets business was completed during the quarter. The acquisition is not considered to have a material impact on the Group's sales and earnings. See page 5 for further information.

Key ratios per quarter Continuing operations

	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3
SEK M	2012	2012	2012	2011	2011	2011	2011	2010	2010
Net sales	4,961	5,612	5,723	5,104	5,187	5,492	5,260	4,995	4,805
Operating profit excl items affecting comparability and part in assoc comp	528	702	666	376	612	674	569	400	477
Items aff. comparability in operating profit	-12	171	-19	-63	-46	-28	-1	-64	-53
Profit from part in TrelleborgVibracoustic	72	-	-	-	-	-	-	-	-
Operating profit incl items affecting comparability and part in assoc comp	588	873	647	313	566	646	568	336	424

Net sales by business area

	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3
SEK M	2012	2012	2012	2011	2011	2011	2011	2010	2010
Trelleborg Sealing Solutions	1,706	1,944	1,973	1,706	1,864	1,905	1,813	1,574	1,630
Trelleborg Wheel Systems	852	1,052	1,128	954	953	1,006	950	738	732
Trelleborg Engineered Systems	2,466	2,714	2,730	2,507	2,448	2,713	2,525	2,716	2,475
Other companies	2	3	1	14	30	-16	83	76	61
Eliminations	-65	-101	-109	-77	-108	-116	-111	-109	-93
Total	4,961	5,612	5,723	5,104	5,187	5,492	5,260	4,995	4,805

Operating profit by business area

	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3
SEK M	2012	2012	2012	2011	2011	2011	2011	2010	2010
Excluding items affecting comparability
Trelleborg Sealing Solutions	343	464	429	301	422	420	352	234	262
Trelleborg Wheel Systems	88	133	156	99	98	108	96	51	77
Trelleborg Engineered Systems	132	176	155	71	183	236	194	223	229
Other companies	-1	-10	-10	-21	-20	-21	-23	-23	-25
Group items	-34	-61	-64	-74	-71	-69	-50	-85	-66
Total	528	702	666	376	612	674	569	400	477

ROS % by business area

	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3
%	2012	2012	2012	2011	2011	2011	2011	2010	2010
Excluding items affecting comparability
Trelleborg Sealing Solutions	20.0	23.8	21.7	17.7	22.6	22.0	19.4	14.8	16.1
Trelleborg Wheel Systems	10.4	12.6	13.8	10.4	10.3	10.8	10.1	7.0	10.5
Trelleborg Engineered Systems	5.4	6.5	5.7	2.8	7.5	8.7	7.7	8.2	9.3
Total	10.6	12.5	11.7	7.3	11.8	12.3	10.8	8.0	10.0

Income Statements
Group	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3
SEK M	2012	2012	2012	2011	2011	2011	2011	2010	2010
Continuing operations
Net sales	4,961	5,612	5,723	5,104	5,187	5,492	5,260	4,995	4,805
Cost of goods sold	-3,409	-3,726	-3,880	-3,617	-3,452	-3,650	-3,583	-3,430	-3,255
Gross profit	1,552	1,886	1,843	1,487	1,735	1,842	1,677	1,565	1,550
Selling expenses	-468	-544	-519	-516	-504	-515	-504	-509	-477
Administrative expenses	-546	-625	-592	-657	-593	-613	-554	-654	-535
Research and development costs	-74	-79	-76	-73	-64	-67	-70	-69	-65
Other operating income/costs	51	234	-9	72	-8	-1	19	3	-49
Profit from part in assoc. companies	1	1	0	0	0	0	0	0	0
Operating profit	516	873	647	313	566	646	568	336	424
Profit from part in TrelleborgVibracoustic	72	-	-	-	-	-	-	-	-
Operating profit incl TrelleborgVibracoustic	588	873	647	313	566	646	568	336	424
Financial income and expenses	-39	-34	-44	-70	-27	-41	-26	-35	-30
Profit before tax	549	839	603	243	539	605	542	301	394
Tax	-133	-130	-166	-110	-143	-176	-167	-68	-119
Tax related to part in TrelleborgVibracoustic	-18	-	-	-	-	-	-	-	-
Total tax	-151	-130	-166	-110	-143	-176	-167	-68	-119
Net profit	398	709	437	133	396	429	375	233	275
Discontinued operations 1)
Net sales	4	1,921	2,050	2,002	2,004	2,091	2,010	2,050	2,060
Operating profit	3	242	97	146	55	58	337	87	121
Profit before tax	3	217	86	153	28	50	320	79	93
Net profit	0	192	64	133	24	38	310	29	80
Group, total
Net sales	4,965	7,533	7,773	7,106	7,191	7,583	7,270	7,045	6,865
Operating profit	591	1,115	744	459	621	704	905	423	545
Profit before tax	552	1,056	689	396	567	655	862	380	487
Total net profit	398	901	501	266	420	467	685	262	355
- equity holders of the parent	396	896	494	262	413	465	679	257	351
- non-controlling interest	2	5	7	4	7	2	6	5	4
Earnings per share	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3
SEK	2012	2012	2012	2011	2011	2011	2011	2010	2010
Continuing operations	1.45	2.60	1.60	0.50	1.45	1.55	1.40	0.85	1.05
Discontinued operations 1)	0.00	0.75	0.20	0.45	0.10	0.15	1.10	0.10	0.25
Group, total	1.45	3.35	1.80	0.95	1.55	1.70	2.50	0.95	1.30

1) Mainly operations included in the joint venture TrelleborgVibracoustic as from beginning Q3 2012.

Parent Company

Income Statements

Parent company	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	Oct 2011 -	Full year
SEK M	2012	2011	2012	2011	Sep 2012	2011
Administrative expenses	-45	-72	-158	-221	-292	-355
Other operating income	4	177	191	198	222	229
Operating profit	-41	105	33	-23	-70	-126
Financial income and expenses	-244	-239	-367	327	770	1,464
Profit before tax	-285	-134	-334	304	700	1,338
Tax	75	34	184	157	31	4
Net profit	-210	-100	-150	461	731	1,342

Statements of comprehensive income

Net profit	-210	-100	-150	461	731	1,342
Other comprehensive income
Fair value	-	-17	-	-19	19	-
Income tax relating to components of other
comprehensive income	-	5	-	5	-5	-
Other comprehensive income, net of tax	-	-12	-	-14	14	-
Total comprehensive income	-210	-112	-150	447	745	1,342

Balance Sheets
Parent company	Sep 30	Sep 30	Dec 31
SEK M	2012	2011	2011
Property, plant and equipment	21	24	23
Intangible assets	4	5	4
Financial assets	35,848	34,870	34,732
Total non-current assets	35,873	34,899	34,759
Current operating receivables	83	61	53
Current tax assets	-	162	-
Current interest-bearing receivables	205	32	597
Cash and cash equivalents	0	-	0
Total current assets	288	255	650
Total assets	36,161	35,154	35,409
Shareholders' equity	12,649	12,582	13,477
Total equity	12,649	12,582	13,477
Non-current interest-bearing liabilities	32	32	29
Other non-current liabilities	14	17	16
Total non-current liabilities	46	49	45
Interest-bearing current liabilities	23,399	22,453	21,789
Other current liabilities	67	70	98
Total current liabilities	23,466	22,523	21,887
Total equity and liabilities	36,161	35,154	35,409

Financial definitions

Return on shareholders' equity, %

Profit for the period, attributable to shareholders of the Parent Company as a percentage of average shareholders' equity, excluding non-controlling interests.

Return on capital employed (ROCE), %

Operating profit divided by the average capital employed.

EBITDA

Operating profit excluding depreciation of PPE and amortization of intangible assets.

EBITDA margin, %

EBITDA as a percentage of net sales.

Free cash flow

Operating cash flow, cash flow from financial items, taxes and the effect of restructuring measures on cash flow.

Equity method

Shares in associated companies are accounted for according to equity method, in which the initial share of the associated company is adjusted to reflect the Group's share of the profit and also adjusted due to dividends. As regards the share in TrelleborgVibracoustic the share in profit is reported on two lines in the Income Statement; profit before tax and tax.

Net debt

Interest-bearing liabilities less interest-bearing assets and cash and cash equivalents.

Operating cash flow

EBITDA excluding other non-cash items, investments, sold non-current assets and changes in working capital but excluding cash flow pertaining to restructuring.

Operating cash flow/operating profit, %

Operating cash flow as a percentage of operating profit.

Earnings per share

Profit for the period, attributable to shareholders of the Parent Company, divided by the average number of shares outstanding.

Operating margin (ROS), %

Operating profit as a percentage of net sales.

Operating profit

Operating profit as stated in the income statement.

Debt/equity ratio, % Net debt divided by total equity.

Net debt/EBITDA

Net debt divided by EBITDA.

Equity/assets ratio, %

Total equity divided by total assets.

Capital employed

Total assets less interest-bearing financial assets and noninterest-bearing operating liabilities (including pension liabilities) and excluding tax assets and tax liabilities.

Invitation to a telephone conference on October 24 at 10:30 a.m.

A presentation and telephone conference will be held on October 24 at 10:30 a.m. The presentation will be held at Operaterrassen in Stockholm. To participate in the telephone conference, call +46 (0)8 5056 2932 or +44 (0) 2077 5099 50 or +1 8666 7658 69. Code: "Trelleborg". The conference will also be broadcast on the Internet in real time. Visit our website at: www.trelleborg.com/en/Investors/Presentations for the Internet link and presentation materials.

Calendar

Capital Markets Day (Stockholm)	December 6, 2012
Year-end report 2012	February 13, 2013
Interim report January-March 2013	April 24, 2013
Annual General Meeting (Trelleborg) 2013	April 24, 2013
Interim report April-June 2013	July 23, 2013
Interim report July-September 2013	October 23, 2013

For further information, please contact:

Investors/analysts Media Christofer Sjögren, VP Investor Relations Karin Larsson, VP Media Relations Tel: +46 (0)410 - 670 68Tel: +46 (0)410 - 670 15 Mobil: +46 (0)708 - 66 51 40 Mobil: +46 (0)733 - 74 70 15 E-mail: christofer.sjogren@trelleborg.com E-mail: karin.larsson@trelleborg.com

For information about the Trelleborg Group, Annual Reports, the stakeholder magazine T-TIME and other information, please visit 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 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 Wednesday, October 24, 2012, at 7:45 a.m.