Strong growth and record-high margin
Our performance in the third quarter was in line with our expectations and marked another record-breaking quarter for the Group in which we recorded the highest sales, the highest operating profit and the highest margin to date for a single quarter. Net sales increased by 8 percent to SEK 9,232 M (8,532), with organic growth accounting for 6 percentage points, while structural changes and translation of currency each contributed 1 percentage point.
EBITA, excluding items affecting comparability, increased 16 percent and the EBITA margin improved to 19.3 percent (18.1). Operating cash flow increased 6 percent, and the cash conversion ratio for the rolling 12-month period was 95 percent. Earnings per share, excluding items affecting comparability, rose 23 percent.
The results reflect the strength of our decentralized business model. The combination of strong market positions, a local footprint, systematic improvements and a continued focus on selected market segments underpinned the positive performance. Meanwhile, we are continuing our efforts to strengthen the operational structure and efficiency of the business to further enhance our competitiveness and long-term profitability.
Trelleborg Industrial Solutions reported solid organic growth during the quarter, although performance varied across market segments. Compared with the first half of the year, deliveries to infrastructure and marine projects increased as anticipated, and the forecast is that these will continue to demonstrate positive growth in the final quarter of the year. Demand from the construction industry remained at a lower level than in the preceding year. A slight decline was noted in organic sales to the automotive industry and the rail traffic segment, while sales to the aerospace industry continued to show a positive trend.
Trelleborg Medical Solutions reported a steady performance during the quarter. In light of the strong comparison figures in the preceding year, organic sales declined marginally, while sales increased compared with the second quarter of this year. Demand from the medtech industry in North America and Europe remained favorable, while sales in Asia were lower year-on-year. The completion of the first commercial deliveries from the newly established facility in Costa Rica marked a milestone during the quarter.
Trelleborg Sealing Solutions reported strong organic growth during the quarter. The industrials segment performed positively, reporting a sharp increase in sales of advanced polymer solutions to the semiconductor industry, particularly in Asia. The automotive segment also posted growth, with both Asia and North America noting a positive trend, while demand in Europe was somewhat softer. Sales to the aerospace industry continued to perform very strongly across the globe.
We are continuing to grow the Group by completing bolt-on acquisitions. During and shortly after the end of the quarter, Trelleborg Industrial Solutions completed two acquisitions in the field of sealing solutions for the building and construction industries: German company M+R Dichtungstechnik and Italian company Producta. The acquisitions strengthen the business area's position in several key European markets. During the quarter, Trelleborg Sealing Solutions signed an agreement to acquire the US-based company Cascade, which specializes in advanced sealing solutions and components for the aerospace industry. Following the end of the quarter, an agreement was also signed to acquire the US-based company Tri-Mack, a specialist in thermoplastic composite materials for the aerospace industry.
While the ongoing geopolitical uncertainty is having an impact on market conditions in several regions, our business has shown good resilience. Higher costs have been largely offset by efficiency measures and selective price adjustments.
Given the healthy trend in demand, our assessment is that demand in the fourth quarter will be on par with or slightly higher than the third quarter.
Peter Nilsson
President and CEO
Third quarter 2026
- Net sales increased by 8 percent during the quarter to SEK 9,232 M (8,532), representing the highest quarterly net sales recorded to date. Of the increase, organic growth accounted for 6 percentage points, while structural changes and currency translation each contributed 1 percentage point.
- EBITA, excluding items affecting comparability, increased by 16 percent to SEK 1,781 M (1,541). The exchange rate effect from the translation of foreign subsidiaries had a positive impact of SEK 21 M. The EBITA margin was 19.3 percent (18.1). EBITA and the EBITA margin were the highest to date for a single quarter.
- Items affecting comparability for the quarter totaled SEK -67 M (-72) and pertained to restructuring costs.
- EBITA, including items affecting comparability, amounted to SEK 1,714 M (1,469) for the quarter.
- Earnings per share, excluding items affecting comparability, amounted to SEK 5.15 (4.20), up 23 percent.
- For the Group as a whole, earnings per share were SEK 4.92 (3.94).
- Operating cash flow amounted to SEK 1,845 M (1,741), up 6 percent.
- The cash conversion ratio for the most recent 12-month period was 95 percent (92).
Market outlook for the fourth quarter of 2026
Demand is expected to be on a par with, or slightly higher than, the third quarter of 2026, adjusted for seasonal variations. Due to the geopolitical situation, the outlook is associated with continued uncertainty.
Market outlook from the interim report published on July 16, 2026, relating to 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. Due to the geopolitical situation, the outlook is associated with continued uncertainty.
This is a translation of the company's Interim Report in Swedish.
Contacts
Tobias Rydergren, Vice President Communications
+46 733 74 70 15
tobias.rydergren@trelleborg.com
Christofer Sjögren, Vice President Investor Relations
+46 708 66 51 40
christofer.sjogren@trelleborg.com
About Us
Trelleborg leverages in-depth materials and applications expertise with early market insights, making the Group a world leader in engineered polymer solutions. We offer a unique portfolio covering a broad range of applications - even the most complex ones. In 2025, Trelleborg Group reported annual sales of approximately SEK 34 billion, with operations in around 40 countries. The Group comprises three business areas: Trelleborg Industrial Solutions, Trelleborg Medical Solutions, and Trelleborg Sealing Solutions. The Trelleborg share has been listed on the Stock Exchange since 1964 and is traded on Nasdaq Stockholm, Large Cap.
www.trelleborg.com
This information is information that Trelleborg is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-10-23 07:45 CEST.
