Trelleborg AB Series B

Trelleborg AB provides engineered polymer solutions. Co. has five business areas: Trelleborg Coated Systems, which supplies solutions for polymer-coated fabrics; Trelleborg Industrial Solutions, which provides polymer-based solutions for industrial antivibration solutions and industrial sealing systems; Trelleborg Offshore & Construction, which supplies polymer-based solutions used in offshore oil and gas and infrastructure construction environments; Trelleborg Sealing Solutions, which supplies polymer-based sealing solutions deployed in general industry, light vehicle and aerospace environments; and Trelleborg Wheel Systems, which supplies tires and wheels for materials handling vehicles.
  • TickerTREL B
  • ISINSE0000114837
  • ExchangeNasdaq Nordic Stockholm
  • SectorIndustrial Engineering
  • CountrySweden
Karl Bokvist ...
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner – August 2020

Q2 surprised positively, adj. EBIT 44% was above expectations. On average, we left 2020-2021e EBIT unchanged, with good upgrades in Volvo, ABB, Alfa Laval. PMI’s are indicating a return to organic growth in Q4’20, we see upside to forecasts in some of the short-cycle names. The stronger SEK is a headwind and a risk to 2021e adj. EBIT of 4-7% for most companies. We continue to see attraction in mining equipment. Our key long ideas are: Sandvik, Volvo, Metso Outotec, Electrolux We are cautious on: Assa Abloy, Kone, Wärtsilä

Jimi Lehtonen ...
  • Martin Arnell
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Viktor Trollsten

Northern Lights

Olof Larshammar

Trelleborg (Buy, TP: SEK170.00) - Improvements continue

Trelleborg reported another improvement in its operating performance in Q2. We see scope for further margin gains, as well as structural streamlining as Trelleborg exits under-preforming units. We reiterate our BUY and have raised our target price to SEK170 (165).

Johan Brown ...
  • Olof Cederholm

Talking Points - Lyko (Buy): Nordic outlook impossible to ignore

Total sales +16% and EBITDA +29% vs. ABGSCe Up to BUY (Hold) on Other Nordics’ long-term outlook

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Trelleborg - Strength in unlikely places behind good Q2

Q2 adj. EBIT was 24% better than ABGSCe Beat due to Wheel and Business Under Development We raise ‘20-‘21e adj. EBIT by 6% and 3%, keep HOLD

1 director bought

A director at Trelleborg Ab bought 2,000 shares at 153.990SEK and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of boar...

Karl Bokvist ...
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner – August 2020

Q2 surprised positively, adj. EBIT 44% was above expectations. On average, we left 2020-2021e EBIT unchanged, with good upgrades in Volvo, ABB, Alfa Laval. PMI’s are indicating a return to organic growth in Q4’20, we see upside to forecasts in some of the short-cycle names. The stronger SEK is a headwind and a risk to 2021e adj. EBIT of 4-7% for most companies. We continue to see attraction in mining equipment. Our key long ideas are: Sandvik, Volvo, Metso Outotec, Electrolux We are cautious on: Assa Abloy, Kone, Wärtsilä

Olof Larshammar

Trelleborg (Buy, TP: SEK170.00) - Improvements continue

Trelleborg reported another improvement in its operating performance in Q2. We see scope for further margin gains, as well as structural streamlining as Trelleborg exits under-preforming units. We reiterate our BUY and have raised our target price to SEK170 (165).

Johan Brown ...
  • Olof Cederholm

Talking Points - Lyko (Buy): Nordic outlook impossible to ignore

Total sales +16% and EBITDA +29% vs. ABGSCe Up to BUY (Hold) on Other Nordics’ long-term outlook

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Trelleborg - Strength in unlikely places behind good Q2

Q2 adj. EBIT was 24% better than ABGSCe Beat due to Wheel and Business Under Development We raise ‘20-‘21e adj. EBIT by 6% and 3%, keep HOLD

Anders Idborg ...
  • Olof Cederholm

Trelleborg - Wheels stand out in an overall strong report

6-5% sales beat, 24-45% adj. EBIT beat Consensus ‘21e-‘22e adj. EBIT could come up by 3-6% Pos. reaction in line with preliminary revisions seems fair

Jimi Lehtonen ...
  • Martin Arnell
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Viktor Trollsten

Northern Lights

Joachim Gunell ...
  • Niclas Gehin
  • Niklas Wetterling
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Simen Mortensen

Northern Lights

Alexander Aukner ...
  • Christoffer Wang Bjørnsen
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Niclas Gehin
  • Nicolay Dyvik
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Tomi Railo

Northern Lights

Eivind Sars Veddeng ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Christer Magnergård ...
  • Jon Masdal
  • Martin Arnell
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar

Northern Lights

Thanks to a better fundamental star rating, TRELLEBORG AB sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to TRELLEBORG AB (SE), active in the Industrial Machinery industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 3 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date May 26, 2020, the closing price was SEK 127.65 and its expected value was estimated at SEK 119.71.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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