Trelleborg quarterly profit beats estimates, sees solid Q3 demand
Trelleborg quarterly profit beats estimates, sees solid Q3 demand July 16 (Reuters) - Swedish engineering firm Trelleborg TRELb.ST reported second-quarter adjusted operating profit slightly above expectations on Thursday and said third-quarter demand would remain solid, though ease from the prior period.
Over the past year, Trelleborg has faced weak construction demand, subdued automotive markets and customer order delays amid uncertainty over U.S. trade policies.
Trelleborg's quarterly adjusted EBITA rose 11% to 1.76 billion Swedish crowns ($182.94 million), above the 1.73 billion crowns expected by analysts, according to LSEG I/B/E/S data
Q3 outlook reflected tougher year-ago comparisons and seasonal effects, it said
The company said European construction market showed signs of recovery during Q2, while conditions in North America remained subdued
Demand from the automotive sector increased across all major markets, with the aftermarket showing a particularly strong recovery, it said
Trelleborg said it offset higher costs stemming from geopolitical uncertainty through efficiency measures and selective price increases
($1 = 9.6205 Swedish crowns)
(Reporting by Marta Frackowiak; Editing by Bartosz Dabrowski)
((marta.frackowiak@thomsonreuters.com))
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Trelleborg quarterly profit beats estimates, sees solid Q3 demand