Press Releases

During the period December 23 to December 27, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 79,454 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.

The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.

Shares of series B in Trelleborg have been repurchased (in SEK) as follows:

All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of December 27, 2024, amounts to 9,134,230 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.

During the period December 16 to December 20, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 209,436 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of December 20, 2024, amounts to 9,054,776 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.

The Trelleborg Group has decided to invest in a new manufacturing facility in India that will specialize in marine systems and infrastructure. The country represents a robustly growing market, and the investment is part of Trelleborg’s strategy to strengthen its positions in attractive and profitable industrial segments and geographic areas.

“As one of the largest markets in the world, India is expected to experience healthy growth for many years to come. This progress drives an increasing need to upgrade and construct new infrastructure, such as commercial ports – a demand we are set to meet with our upcoming facility,” says Peter Nilsson, President and CEO of Trelleborg.

The manufacturing facility will be constructed near Ahmedabad, where Trelleborg already has a Marine & infrastructure engineering and innovation center. The new facility will be adapted to future requirements for efficient production processes, reducing its environmental impact through efficient water management and steam production from solar heaters. The start of production is planned for late 2026, and the Group will invest a total of SEK 75 M from 2025 to 2026.

Trelleborg has operated in India for over 40 years, and sales in the country totaled nearly SEK 700 M in 2023. The company already operates in sealing solutions, automotive boots, cable protection for telecom equipment, and antivibration solutions for industrial applications, rails, and rolling stock. Trelleborg’s IT and engineering centers, which provide technical support for Trelleborg’s global offices, are also located in India.

During the period December 9 to December 13, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 201,036 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of December 13, 2024, amounts to 8,845,340 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.

The Trelleborg Group, through its Trelleborg Industrial Solutions business area, signed an agreement and finalized the acquisition of Mampaey Offshore Industries, a Netherlands-based manufacturer of specialist solutions for the marine industry.

The company’s operations are based in Dordrecht, Netherlands, where it produces a range of berthing and mooring systems and ship-to-shore safety links for LNG transfer. Sales amounted to approximately SEK 170 M in 2023.

“The acquisition of Mampaey strengthens our global leading positions in the growing marine and LNG industries and will allow us to offer our customers a comprehensive range of safety-critical solutions. Our strong portfolio helps make operations more efficient, safer, and increasingly sustainable,” says Jean-Paul Mindermann, Business Area President of Trelleborg Industrial Solutions.

The transaction will be consolidated as of today.

During the period December 2 to December 6, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 260,656 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of December 6, 2024, amounts to 8,644,304 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.

Trelleborg Group has finalized the acquisition of Magee Plastics, a US company that manufactures and performs services on solutions made from high-performance thermoplastic and composite materials for the aerospace industry.

The company is headquartered in Warrendale, Pennsylvania, US. Magee Plastics applies industry-leading design skills, quality, and performance to develop interior solutions to meet complex specifications. For 2023, the company’s sales amounted to approximately SEK 230 M.

The transaction will be consolidated as of today.

A press release on the acquisition was published on August 14, 2024.

During the period November 25 to November 29, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 344,608 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.

The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.

Shares of series B in Trelleborg have been repurchased (in SEK) as follows:

All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of November 29, 2024, amounts to 8,383,648 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.

A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period November 18 to November 22, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 543,268 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of November 22, 2024, amounts to 8,039,040 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period November 11 to November 15, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 535,151 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of November 15, 2024, amounts to 7,495,772 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period November 4 to November 8, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 421,995 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of November 8, 2024, amounts to 6,960,621 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period October 28 to November 1, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 201,216 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of November 1, 2024, amounts to 6,538,626 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period October 21 to October 25, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 292,268 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of October 25, 2024, amounts to 6,337,410 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period October 14 to October 18, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 155,829 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of October 18, 2024, amounts to 6,045,142 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

The Trelleborg Group, through its Trelleborg Sealing Solutions business area, has signed an agreement to acquire the US company CRC Distribution. The company is a specialist distributor in polymer sealing solutions and related value-added services in hydraulics, hydropower, oil and gas, as well as for pumps and compressors.

CRC Distribution is based in Robertsdale, Alabama, in the US. Its business is focused primarily on the domestic market but has recently expanded into the Mexican market as well. The company has steadily built up a strong sales organization and offers an advanced e-commerce solution for seals. CRC Distribution generates annual external sales of just over SEK 170 M.

“As an authorized distributor of Trelleborg’s seals, CRC has demonstrated deep knowledge of sealing applications and outstanding customer service. The acquisition will strengthen Trelleborg’s customer offering, particularly toward mid-sized manufacturing companies and businesses focused on maintenance, repair, and operation of industrial equipment,” says Jürgen Bosch, President of the Trelleborg Sealing Solutions business area.

The transaction is expected to be finalized in the first quarter of 2025.

During the period October 7 to October 11, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 147,914 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of October 11, 2024, amounts to 5,889,313 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period September 30 to October 4, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 248,015 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of October 4, 2024, amounts to 5,741,399 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

According to a previous resolution by the Annual General Meeting of Trelleborg AB, the Chairman of the Board is assigned the task of annually asking the five largest shareholders, in terms of votes registered on August 31, to appoint one member each to the Nomination Committee prior to the next Annual General Meeting.
 
The following have agreed to participate in the Nomination Committee for the 2025 Annual General Meeting:
 
Ragnar Lindqvist, The Dunker interests
Ulrik Grönvall, Swedbank Robur Fonder
Anna Sundberg, Handelsbanken Fonder
Erik Granström, Folksam
Per Trygg, Lannebo Fonder
 
The Nomination Committee will thus be composed of the same members as for the 2024 Annual General Meeting. The main task of the Nomination Committee is to propose the Board of Directors as well as remuneration to the Board of Directors. Further, the Committee shall submit proposals for Auditor and Auditor fees and Chairman for the Annual General Meeting.
 
The Annual General Meeting will be held in Trelleborg, Sweden, on April 24, 2025.
 
Shareholders wishing to submit proposals regarding candidates for the Board of Trelleborg may address these by email to valberedningen@trelleborg.com no later than January 31, 2025.

Trelleborg Group’s financial report for the third quarter of 2024 will be published on Thursday, October 24, at about 07:45 am CEST.

A webcast conference call for investors, analysts, and media will be held at 10:00 am CEST the same day. Trelleborg will be represented by Peter Nilsson, President and CEO, and Fredrik Nilsson, CFO. The presentation will be held in English.

To follow the presentation webcast, either access this link or visit www.trelleborg.com.

To participate via teleconference, please register here. After registration, you will be provided with phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.

The webcast will be available on Trelleborg’s webpage following the presentation.

During the period September 23 to September 27, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 147,668 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of September 27, 2024, amounts to 5,493,384 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period September 16 to September 20, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 102,033 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of September 20, 2024, amounts to 5,345,716 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period September 9 to September 13, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 98,544 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of September 13, 2024, amounts to 5,243,683 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period September 2 to September 6, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 160,347 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of September 6, 2024, amounts to 5,145,139 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period August 26 to August 30, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 106,270 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of August 30, 2024, amounts to 4,984,792 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period August 19 to August 23, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 84,675 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of August 23, 2024, amounts to 4,878,522 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period August 12 to August 16, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 140,620 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.

The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.

Shares of series B in Trelleborg have been repurchased (in SEK) as follows:

All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of August 16, 2024, amounts to 4,793,847 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.

A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

Trelleborg Group has, through its Trelleborg Sealing Solutions business area, signed an agreement to acquire the US company Magee Plastics. The company manufactures and performs services on solutions made from high-performance thermoplastic and composite materials for the aerospace industry.

Ted Magee founded the company 56 years ago and is headquartered in Warrendale, Pennsylvania, US. Magee Plastics applies industry-leading design skills, quality, and performance to develop interior solutions to meet complex specifications. For 2023, the company’s sales amounted to approximately SEK 230 M.

“The acquisition strengthens Trelleborg’s position in the aerospace industry by adding cutting-edge expertise in thermoforming and vacuum forming. The acquisition also broadens Trelleborg’s interior fittings offering for the aerospace industry, which is expected to generate favorable sales synergies. The business also includes an FAA145-certified service workshop that will increase Trelleborg´s share of aftermarket services and further strengthen customer relationships,” says Jürgen Bosch, Business Area President of Trelleborg Sealing Solutions.

The aerospace industry is expected to experience healthy growth for many years. To meet the growing demand, Trelleborg is making bolt-on acquisitions and capacity-increasing investments in existing operations. In May, the investment in a state-of-the-art facility in Morocco for the production of sealing solutions for the aerospace industry was announced. The facility will begin operations by the end of 2025.

The transaction is expected to be finalized in the fourth quarter of 2024.

During the period August 5 to August 9, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 167,997 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.

Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of August 9, 2024, amounts to 4,653,227 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period July 29 to August 2, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 137,230 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of August 2, 2024, amounts to 4,485,230 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period July 22 to July 26, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 163,658 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of July 26, 2024, amounts to 4,348,000 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period July 15 to July 19, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 191,800 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of July 19, 2024, amounts to 4,184,342 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

“The Group continued to perform well in the second quarter, and it is pleasing to note that we returned to organic growth after a few quarters in which we reported a slight organic decline. We also delivered the highest operating profit (EBITA) to date for a single quarter.

Organic sales increased 1 percent year-on-year. EBITA, excluding items affecting comparability, increased 2 percent, and the corresponding margin improved to 18.4 percent (18.0).

Organic sales for Trelleborg Industrial Solutions slowed marginally. Sales to the construction industry are still weak in most geographical markets, while demand within several industrial segments remains at a lower level. However, project transactions for LNG-related solutions and deliveries to customers in renewable energy continued to grow significantly. Sales of solutions to major infrastructure projects also performed well. Deliveries to automotive manufacturers continued to grow. Finnish company BP-Tech Group was acquired during the period, and its sealing solutions complement our offering well in the rapidly growing pipe repair segment.

Organic sales for Trelleborg Medical Solutions increased a couple of percentage points. Sales to the North American medtech market performed well, primarily in the latter part of the period. Although customers continued to adjust their inventories during the quarter, this activity is considered to have eased compared to the beginning of the year. Accordingly, the outlook for the autumn is slightly more positive. We finalized the acquisition of Baron Group after the end of the quarter. This acquisition strengthens both the business area’s application expertise and manufacturing capacity. It provides a platform for continued growth and positions us as a global partner to producers of a variety of medical devices.

Trelleborg Sealing Solutions reported a solid increase in organic sales. In contrast to the preceding year, the absence of the Easter holiday in the second quarter contributed to this positive trend. Organic sales to the general industry declined slightly, though development in Asia was positive. Deliveries to the automotive industry increased across all regions, while sales to the aerospace industry continued to grow significantly. During the quarter, we finalized the acquisition of South Korean MNE Group, which manufactures precision seals for semiconductor production equipment.

During the quarter, we decided to invest in a new production facility in Morocco, focusing on sealing solutions for the aerospace industry. The new facility will establish a local presence for several customers in the country while increasing capacity to meet the industry’s strong global growth.

The share buy-back program will continue following the authorization granted by the Annual General Meeting. We are now in our third year of buying back shares via the stock market. Since we cancel these acquired shares, the number of shares in circulation decreases, thus resulting in higher earnings per share. Earnings per share for continuing operations increased a full 17 percent during the quarter. We consider the repurchase program to be an effective way of transferring value to shareholders, and it serves as an excellent supplement to our operational efforts to improve the Group’s profitability and capital structure.

The Group’s order intake is solid and suggests a more positive performance moving forward. However, the picture being painted is not clear-cut, as our market segments and geographies are developing in slightly different directions.

We remain committed to our aim of increasing the Group’s profitability. Our margin target of 20 percent is within reach as the markets improve and the synergies from previous acquisitions are realized according to plan. Our general assessment of the current situation is that demand in the third quarter will be somewhat higher than in the second quarter,” says Peter Nilsson, President and CEO.

Second quarter 2024 – continuing operations

• Net sales for the quarter were on par with the preceding year at SEK 8,711 M (8,696). Organic sales increased by 1 percent compared with the preceding year, structural changes reduced sales by 1 percent, and currency was unchanged compared with the preceding year.
• EBITA, excluding items affecting comparability, increased 2 percent to SEK 1,599 M (1,563). The EBITA margin was 18.4 percent (18.0). Earnings were the best to date for a single quarter.
• Operating cash flow amounted to SEK 1,190 M (1,585), down 25 percent. This is due primarily to a higher rate of investment and a greater need for working capital driven by increased demand. The cash conversion ratio for the most recent 12-month period was 88 percent (88).
• Items affecting comparability for the quarter totaled SEK -111 M (-194) and pertained to restructuring costs.
• EBITA, including items affecting comparability, amounted to SEK 1,488 M (1,369) for the quarter.
• Earnings per share for continuing operations, excluding items affecting comparability, totaled SEK 4.49 (4.71), down 5 percent attributable to non-recurring financial income (SEK 173 M after tax) that impacted earnings per share for the preceding year by SEK 0.68.
• For the Group as a whole, earnings per share were SEK 4.14 (27.67). The comparable figure in the year-earlier period included a contribution of SEK 24.12 from discontinuing operations. Discontinuing operations included capital gains attributable to the divestment of the Group’s tire and printing blanket operations.
• The key figures in this report relate to continuing operations, unless otherwise stated.

Market outlook for the third quarter of 2024
Demand is expected to be somewhat higher compared to the second quarter of 2024, adjusted for seasonal variations. The geopolitical situation entails a heightened degree of uncertainty. For further information, refer to page 12.

Market outlook from the interim report published on April 24, 2024, relating to the second quarter of 2024
Demand is expected to be on a par with the first quarter of 2024, adjusted for seasonal variations. The geopolitical situation entails a heightened degree of uncertainty.

This is a translation of the company’s Interim Report in Swedish.

Trelleborg Group has finalized its acquisition of Baron Group. The company is a global leader in the manufacturing of advanced precision silicone components.

Baron Group generated sales of approximately SEK 1,000 M in 2023. The company has its head office and two manufacturing facilities in Australia, as well as two additional facilities in China. The business primarily focuses on medical technology solutions and will become part of the Trelleborg Medical Solutions business area, established on April 1, 2024.

The transaction will be consolidated as of today.

The press release regarding the acquisition was published on February 6, 2024.

During the period July 8 to July 12, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 206,800 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.

The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.

Shares of series B in Trelleborg have been repurchased (in SEK) as follows:

All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of July 12, 2024, amounts to 3,992,542 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.

A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

Trelleborg Group has decided to invest in a new production facility to expand its business for engineered coated fabrics in Rutherfordton, North Carolina, US. The establishment will primarily aim to strengthen Trelleborg's leading positions in aircraft escape slides, water infrastructure, and advanced materials for healthcare and outdoor products.

“The investment creates opportunities for continued growth in our globally leading business in engineered coated fabrics, which is part of the Trelleborg Industrial Solutions business area. Through this expansion, we are adding new technology, production and development capacity in a state-of-the-art facility, strengthening our role as a long-term partner to our customers," says Peter Nilsson, President and CEO of Trelleborg Group.

The new building will be LEED-certified, and operations will be carbon-neutral. The investment also enables increased use of bio-based polymers and recycled raw materials. In total, Trelleborg is investing more than SEK 300 million in the expanded facility. Groundbreaking is scheduled for the fourth quarter of this year, with production starting in early 2026.

Trelleborg has industry-leading expertise in engineered coated fabrics. With global testing capabilities and a portfolio that includes the most comprehensive range of fabrics and coatings, Trelleborg develops fabrics with unique properties tailored for demanding applications.

During the period July 1 to July 5, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 176,804 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of July 5, 2024, amounts to 3,785,742 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

Trelleborg Group’s financial report for the second quarter of 2024 will be published on Thursday, July 18, at about 1:00 pm CEST.

A webcast conference call for investors, analysts, and media will be held at 3:00 pm CEST the same day. Trelleborg will be represented by Peter Nilsson, President and CEO, and Fredrik Nilsson, CFO. The presentation will be held in English.

To follow the presentation webcast, either access this link or visit www.trelleborg.com.

To participate via teleconference, please register here. After registration, you will be provided with phone numbers and a conference ID to access the call. You can ask questions verbally via the teleconference.

The webcast will be available on Trelleborg’s webpage following the presentation.

During the period June 24 to June 28, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 188,623 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of June 28, 2024, amounts to 3,608,938 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period June 17 to June 20, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 152,839 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of June 20, 2024, amounts to 3,420,315 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period June 10 to June 14, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 189,600 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of June 14, 2024, amounts to 3,267,476 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period June 3 to June 7, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 152,800 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of June 7, 2024, amounts to 3,077,876 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period May 27 to May 31, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 188,174 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of May 31, 2024, amounts to 2,925,076 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

In accordance with the resolution at the Annual General Meeting on April 24, 2024, Trelleborg AB has canceled 13,578,733 of its own shares of series B that the company previously repurchased.
 
After the cancellation, the total number of shares in the company amounts to 241,547,186, of which 28,500,000 are shares of series A (10 votes per share) and 213,047,186 are shares of series B (one vote per share), corresponding to 498,047,186 votes in total.

During the period May 20 to May 24, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 187,887 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of May 24, 2024, amounts to 2,736,902 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period May 13 to May 17, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 194,387 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of May 17, 2024, amounts to 2,549,015 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period May 6 to May 10, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 162,581 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of May 10, 2024, amounts to 2,354,628 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

Trelleborg has decided to invest in a new production facility in Morocco, focusing on sealing solutions for the aerospace industry. The new facility will establish a local presence for several customers in the country while increasing capacity to meet the industry's strong global growth.

“Casablanca in Morocco has developed into a hub for aerospace companies. Today, no company in the country focuses on polymer seals for this industry. Our new facility will be an important step in supplying our customers locally and increasing our global capacity for an industry expected to continue to grow strongly for many years," says Peter Nilsson, President and CEO of Trelleborg.

The production facility will be established in the Midparc Industrial Freezone, next to the Mohammed V International Airport in Casablanca. The state-of-the-art facility will get a substantial part of its energy supply from solar panels on its roof. The facility will initially have a surface area of more than 5,000 square meters and will be adapted to meet the stringent requirements of suppliers in the aviation industry.

Trelleborg will partner with the Moroccan Aerospace Training Center, IMA, to tailor education for prospective employees. The facility is planned to be operational by the end of 2025, and Trelleborg will initially invest more than SEK 100 million over two years.

Trelleborg already has a facility for the production of automotive boots in Morocco.

Trelleborg Group has finalized the acquisition of BP-Tech Group, including Boldan and Spraypoxy, a Finnish pipe repair specialist.

The headquarters and manufacturing facility are located in Rajamäki, Finland. BP-Tech Group sales amounted to just over SEK 220 M in revenue in 2023. The acquisition is part of Trelleborg's strategy to grow in the expanding water and sewage infrastructure market.

The transaction will be consolidated as of today.

A press release on the acquisition was published on April 17, 2024.

During the period April 29 to May 3, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 153,007 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors. The purpose is to adjust the company's capital structure, contributing to increased shareholder value. Repurchases are also made to ensure the delivery of shares and related costs, such as social security contributions, for the Performance Share Program (PSP) 2024/2027.
 
The share buybacks form part of the buyback program of a maximum of 20,000,000 shares of series B for a total maximum amount of SEK 4,000 million, which Trelleborg announced on April 24, 2024. The buyback program, which runs between April 25, 2024, to the day prior to the 2025 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings, except for the shares repurchased for the incentive program PSP 2024/2027.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:

 
All acquisitions have been carried out on Nasdaq Stockholm by DNB Markets, a part of DNB Bank ASA, Sweden Branch (DNB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of May 3, 2024, amounts to 2,192,047 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period April 22 to April 23, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 148,000 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of April 23, 2024, amounts to 15,617,773 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

The Board of Directors of Trelleborg has decided to exercise the authorization granted by the Annual General Meeting on April 24, 2024, to acquire own shares of series B.

Acquisition of shares will be carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (”MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). Acquisitions of shares will be managed by an investment firm or a credit institution that makes its trading decisions independently of Trelleborg with regard to the timing of the acquisition of shares in Trelleborg.

The buyback program is subject to the following terms:
(i) acquisitions shall be made on Nasdaq Stockholm in accordance with the Nordic Main Market Rulebook for Issuers of Shares (below the “Rulebook”) as well as in accordance with MAR and the Safe Harbour Regulation;

(ii) acquisitions may be made between April 25, 2024, and the day prior to the 2025 Annual General Meeting;

(iii) a maximum of 20,000,000 shares of series B may be repurchased for a total maximum amount of SEK 4,000 million, however, the company’s holding of own shares may not at any time exceed 10 percent of the outstanding shares in the company;

(iv) acquisitions may only be made at a price which falls within the prevailing price interval registered at each point in time (i.e. in the interval between the highest purchase price and the lowest selling price) and in addition, in accordance with the price restrictions in the Safe Harbour Regulation;

(v) acquisitions may only be made in accordance with the restrictions regarding volume for acquisitions of own shares stated in the Rulebook and in the Safe Harbour Regulation; and

(vi) payment of acquired shares shall be made in cash

The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. Shares will also be repurchased for the PSP 2024/2027 for reasons and rationales set out in the AGM Notice item 17b. The intent is that the repurchased shares, excluding shares repurchased for the PSP 2024/2027, will later be cancelled by resolution of upcoming Annual General Meetings.

The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B. The company holds 15,617,773 own shares of series B at the time of this press release. Following the cancellation of 13,578,733 of the company’s own shares of series B, which was resolved upon by the Annual General Meeting held on April 24, 2024, the total amount of shares will amount to 241,547,186 whereof 28,500,000 are shares of series A and 213,047,186 are shares of series B.

The Board of Directors of Trelleborg has decided to exercise the authorization granted by the Annual General Meeting on April 24, 2024, to acquire own shares of series B.

Acquisition of shares will be carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (”MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). Acquisitions of shares will be managed by an investment firm or a credit institution that makes its trading decisions independently of Trelleborg with regard to the timing of the acquisition of shares in Trelleborg.

The buyback program is subject to the following terms:

(i) the acquisition may take place on Nasdaq Stockholm, on one or more occasions before the next Annual General Meeting;

(ii) the acquisition may be of no more than the number of Series B shares so the company’s holding of own shares at the time amounts to no more than one-tenth of all of the shares in the company, on condition that there is sufficient non-restricted equity, based on the latest adopted Balance Sheet;

(iii) the acquisition may take place at a price within the market price range registered at the time (i.e. the interval between the highest bid price and the lowest offer price); and

(iv) payment for the acquired shares shall be made in cash.

The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. Shares will also be repurchased for the PSP 2024/2027 for reasons and rationales set out in the AGM Notice item 17b. The intent is that the repurchased shares, excluding shares repurchased for the PSP 2024/2027, will later be cancelled by resolution of upcoming Annual General Meetings.

The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B. The company holds 15,617,773 own shares of series B at the time of this press release. Following the cancellation of 13,578,733 of the company’s own shares of series B, which was resolved upon by the Annual General Meeting held on April 27, 2023, the total amount of shares will amount to 241,547,186 whereof 28,500,000 are shares of series A and 213,047,186 are shares of series B.

Trelleborg AB held its 2024 Annual General Meeting today, April 24, 2024.

Income statement and balance sheet
The Meeting adopted the income statement and balance sheet and the consolidated income statement and balance sheet for 2023.

The members of the Board and the CEO were discharged from personal liability for the 2023 financial year.

Dividend
The Meeting resolved in accordance with the Board of Directors’ proposal to pay a dividend in the amount of SEK 6.75 per share. The record date for the dividend was set as Friday April 26, 2024, which means the dividend is expected to be distributed by Euroclear Sweden AB on Thursday May 2, 2024.

Board of Directors and auditor
In accordance with the Nomination Committee’s proposal, it was resolved that the Board of Directors should comprise seven members elected by the Meeting, with no deputies.

In accordance with the Nomination Committee’s proposal, Gunilla Fransson, Monica Gimre, Henrik Lange, Johan Malmquist, Peter Nilsson, Anne Mette Olesen and Jan Ståhlberg were re-elected as Board members. The Meeting elected Johan Malmquist as Chairman of the Board.

The company’s auditor, Deloitte AB, was re-elected for the period until the close of the 2025 Annual General Meeting.

Remuneration of Board members and auditor
The Meeting resolved in accordance with the Nomination Committee’s proposal that fees paid to the Board of Directors shall be SEK 5,775,000 (5,550,000) with SEK 2,150,000 (2,050,000) to be paid to the Chairman and SEK 725,000 (700,000) each to be paid to those Board members who are not employed within the Trelleborg Group.

In addition, the Meeting resolved that fees paid to those assigned to the Audit Committee shall be SEK 305,000 (290,000) for the Chairman and SEK 180,000 (170,000) for each member not employed within the Trelleborg Group and that fees paid to those assigned to the Remuneration Committee shall be SEK 175,000 (170,000) for the Chairman and SEK 100,000 (95,000) for each member not employed within the Trelleborg Group. The Meeting also resolved that fees paid to those assigned to the Finance Committee shall be SEK 100,000 (95,000) each for the Chairman and to other members who are not employed within the Trelleborg Group.

The auditor’s fees are to be paid on a current account basis.

Remuneration report 2023
The Meeting approved the Board of Directors’ remuneration report for the 2023 financial year.

Resolution on principles of remuneration for senior executives
The Meeting resolved in accordance with the Board of Directors’ proposal on principles of remuneration for senior executives.

Resolution on the Board of Director’s proposal for the Performance Share Plan (PSP 2024/2027)
The meeting resolved in accordance with the Board of Directors’ proposal to introduce a new share program for the CEO and Group management within the Trelleborg Group ("PSP 2024/2027") and the rights for the Company to transfer its own shares in order to fulfill obligations related to participants in the share program.

Resolution on authorization of the Board of Directors to resolve on repurchase of own shares
The Meeting resolved in accordance with the Board of Directors’ proposal to authorize the Board of Directors during the period until the next Annual General Meeting to resolve on acquisition of own shares on Nasdaq Stockholm with the purpose to adapting the company’s capital structure and thereby contribute to increased shareholder value and to ensure delivery of shares and thereby associated costs for PSP 2024/2027.

Resolution on reduction of the share capital by means of cancellation of repurchased shares and increase of the share capital through a bonus issue
The Meeting resolved in accordance with the Board of Directors’ proposals to authorize the Board of Directors to take measures required to reduce the share capital with SEK 139,465,158 through cancellation of 13,578,733 own shares of series B that are held by the company, and at the same time restore the company’s share capital with the same amount by increasing the share capital by way of a bonus issue, without issuing new shares. The company’s restricted equity and share capital will therefore remain unchanged after the implementation of the bonus issue. Following completion of the reduction of the share capital and the bonus issue, the number of shares will be 241,547,186, of which 28,500,000 are shares of series A and 213,047,186 are shares of series B.

The presentation by the CEO, Peter Nilsson, will be available on www.trelleborg.com.

Minutes from the Annual General Meeting will be published on www.trelleborg.com.

”Organic growth decreased by 3 percent while structural changes led to a 2-percent reduction in sales. The Easter holiday fell during the first quarter of the year, which meant fewer workdays than the preceding year. This impacted organic growth negatively by close to 2 percent.

EBITA, excluding items affecting comparability, decreased 2 percent, but the corresponding margin improved to 18.1 percent (17.5). Operating cash flow improved significantly compared with the preceding year.

Organic sales for Trelleborg Industrial Solutions slowed somewhat. The construction industry remains under pressure in several markets, and we also noted weaker demand in certain industrial segments. Meanwhile, project transactions for LNG-related solutions continued to grow significantly, and sales to the automotive industry were also positive. Despite the somewhat lower volumes, the margin and return on capital employed continued to improve, primarily due to operational and structural improvements as well as a positive sales mix.

During the quarter, we established Trelleborg Medical Solutions, a new business area focusing on healthcare and medical. At the same time, we signed an agreement to acquire Baron Group, a leading Australian-Chinese manufacturer of advanced precision silicon components. This acquisition strengthens our application expertise and manufacturing capacity and positions us as a leading global partner in medical devices.

Trelleborg Medical Solutions is currently experiencing a challenging market. The aftermath of the pandemic has led to a protracted period of destocking in the medtech industry, and we have now also been affected by significant destocking by a few major customers. We believe that this will continue for at least another quarter. However, underlying demand remains healthy, and we expect a much stronger second half of 2024.

Organic sales for Trelleborg Sealing Solutions declined slightly, with the Easter effect explaining the absolute majority of this decrease. Organic sales to general industry declined overall, although development in Asia was positive. Deliveries to the automotive industry were unchanged, while sales to the aerospace industry continued to increase sharply. As previously communicated, acquisitions with lower margins have impacted profitability. The integration of Minnesota Rubber & Plastics is continuing and the work to achieve synergies from this major acquisition will gradually result in higher sales and profitability in the years ahead.

For several quarters now, we have noted that the performance in several market segments is more subdued. At the same time, we have quickly adapted those parts of the Group that are impacted by the lower demand. We, therefore, see it as a sign of strength that we were able to display a margin improvement despite lower volumes during the quarter. Our long-term efforts to improve the Group’s structure mean that our margin target of 20 percent will be well within reach.

Earnings per share improved by 16 percent due to the ongoing share repurchase program and lower financial expenses. The Group’s strong balance sheet allows for the continued repurchase of shares, and we will continue to invest in organic capacity-increasing initiatives and acquisitions in selected fast-growing niches. Our general assessment of the current situation is that demand in the second quarter will be on a par with the first quarter”, says Peter Nilsson, President and CEO.

First quarter 2024 – continuing operations

• Net sales for the quarter declined 5 percent to SEK 8,234 M (8,711). Organic sales declined 3 percent compared with the preceding year, structural changes reduced sales by 2 percent and currency was unchanged compared with the preceding year.
• EBITA, excluding items affecting comparability, decreased 2 percent to SEK 1,490 M (1,528). The EBITA margin was 18.1 percent (17.5).
• Operating cash flow amounted to SEK 718 M (549), up 31 percent. The cash conversion ratio for the most recent 12-month period amounted to 95 percent (75).
• Items affecting comparability for the quarter totaled SEK -55 M (-49) and pertained to restructuring costs.
• EBITA, including items affecting comparability, amounted to SEK 1,435 M (1,479) for the quarter.
• Earnings per share for continuing operations, excluding items affecting comparability, amounted to SEK 4.23 (3.66),
  up 16 percent. The improvement is attributable to lower financial costs and the ongoing share repurchase program.
• For the Group as a whole, earnings per share were SEK 4.06 (5.33). The comparable figure in the year-earlier period included a contribution of SEK 1.81 from discontinuing operations.
• Trelleborg Group has decided to establish a new business area, Trelleborg Medical Solutions, in order to increase focus on healthcare & medical.
• The key figures in this report relate to continuing operations, unless otherwise stated.

Market outlook for the second quarter of 2024
Demand is expected to be on a par with the first quarter of 2024, adjusted for seasonal variations. The geopolitical situation entails a heightened degree of uncertainty. For further information, refer to page 12.

Market outlook from the interim report published on February 2, 2024, relating to the first quarter of 2024
Demand is expected to be on a par with the fourth quarter of 2023, adjusted for seasonal variations. The geopolitical situation entails a heightened degree of uncertainty.

This is a translation of the company’s Interim Report in Swedish.

During the period April 15 to April 19, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 243,774 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of April 19, 2024, amounts to 15,469,773 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

Trelleborg Group has finalized the acquisition of South Korean MNE Group specialized within precision seals for semiconductor production equipment.

The headquarters and manufacturing facility are located in Yongin, just outside Seoul. MNE Group generated approximately SEK 300 M in revenue in 2023. The acquisition is part of Trelleborg's strategy to grow in the expanding semiconductor industry.

The transaction will be consolidated as of today.

Press release on the acquisition was published on December 20, 2023.

Trelleborg Group has, through its business area Trelleborg Industrial Solutions, signed an agreement to acquire BP-Tech Group, including Boldan and Spraypoxy, a Finnish pipe repair specialist.

Headquartered in Rajamäki, Finland, the business is an innovation leader for trenchless pipe repair including liners, resins, and specialist equipment. Sales in 2023 amounted to just over SEK 220 M in 24 countries worldwide. The business has a strong portfolio including a proprietary spray-in-place solution and offers industry leading contractor training.

“This acquisition strengthens Trelleborg’s leading position in a fast-growing industry. Aging infrastructure in Europe and North America sees between 25 and 50 percent of piped water lost to leaks annually with significant cost and environmental consequences. Trenchless technology is a sustainable and cost-effective solution that allows critical infrastructure to be repaired rapidly and with minimum disruption to property owners” says Jean-Paul Mindermann, President of the Trelleborg Industrial Solutions business area.

The pipe repair market is forecast to grow strongly over the coming years as utility companies and civic authorities address critical infrastructure. Trelleborg has made a number of recent investments, including acquisitions, in response to growing demand around the world.

The transaction is expected to be finalized in the second quarter of 2024.

During the period April 8 to April 12, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 208,872 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of April 12, 2024, amounts to 15,225,999 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

Trelleborg Group’s financial report for the first quarter of 2024 will be published on Wednesday, April 24, at about 1:00 pm CEST.

A webcasted conference call for investors, analysts and media will be held at 3:00 pm CEST the same day. Trelleborg will be represented by Peter Nilsson, President and CEO, and Fredrik Nilsson, CFO. The presentation will be held in English.

To follow the presentation webcast, either access this link or visit www.trelleborg.com.

To participate via teleconference, please register here. After registration you will be provided phone numbers and a conference ID to access the call. You can ask questions verbally via the teleconference.

The webcast will be available on Trelleborg’s webpage following the presentation.

During the period April 2 to April 5, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 158,226 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of April 5, 2024, amounts to 15,017,127 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period March 25 to March 28, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 169,242 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of March 28, 2024, amounts to 14,858,901 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

Trelleborg Group announced on February 14, 2024 that the healthcare & medical operations in the Trelleborg Sealing Solutions business area, including the agreed acquisition of Baron Group, will form the new Trelleborg Medical Solutions business area. The new organization will take effect on April 1, 2024 and will be reflected in Trelleborg’s first-quarter 2024 report, which will be published at 1:00 p.m. CET on April 24.

Pro forma annual sales for the new Trelleborg Medical Solutions business area amounts to approximately SEK 3.6 billion, including the agreed acquisition of Baron Group. The business area’s long-term target is to reach sales in excess of SEK 5 billion. The sales target is expected to be achieved through healthy organic sales growth and continued acquisitions. Trelleborg Medical Solutions will offer one of the broadest and most global portfolios in the market of polymer-based solutions for both medical technology and biopharma, which is expected to contribute positively to organic growth.

Trelleborg Medical Solutions’ EBITA margin will reach a run rate of approximately 20 percent when the agreed acquisition of Baron Group has been implemented. In recent years, significant investments have been made within the organization to leverage the potential offered by the market. While these investments in the organization have temporarily impacted the margin, new products and customer relationships have been developed in parallel. Over time, the investments are expected to positively impact both growth and profitability. Further profitability improvements will be delivered as synergies from previous acquisitions continue to be realized.

The Trelleborg Sealing Solutions business area has annual sales of approximately SEK 16.5 billion. The organizational change will have a minor positive effect on the EBITA margin. As previously announced, the margin has been impacted by major acquisitions with initially lower margins. In addition, investments in the organization in a number of fast-growing market segments, such as aerospace and semiconductors, have temporarily dampened profitability. The addition of resources combined with the realization of acquisition synergies is expected to contribute to a positive margin development in the long term.

The Trelleborg Industrial Solutions business area will not be affected by the new organization.

Historical sales and earnings figures for Trelleborg Medical Solutions and Trelleborg Sealing Solutions have been restated and are attached to this press release. They are also available on Trelleborg’s website. The historical figures are not audited and may therefore be adjusted in future reports.

During the period March 18 to March 22, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 216,721 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of March 22, 2024, amounts to 14,689,659 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

The shareholders of Trelleborg AB (publ), Corporate Registration Number 556006-3421, are hereby invited to attend the Annual General Meeting on Wednesday, April 24, 2024 at 5:00 p.m. in Parken kultur- och konferenscenter, Norregatan 46-48, 231 63 Trelleborg, Sweden. The venue will open and registration will commence from 4:15 p.m. Coffee and cake will be served in conjunction with the Annual General Meeting.
 
The Board of Directors has decided that it will also be possible for shareholders to exercise their voting rights at the Meeting in the form of postal voting in accordance with the provisions in the company’s Articles of Association. The Board of Directors has also decided that the Annual General Meeting will be livestreamed at www.trelleborg.com.
 
NOTIFICATION AND REGISTRATION
 
Shareholders wishing to attend the Meeting venue must:
 
· be registered as a shareholder in the shareholders’ register maintained by Euroclear Sweden AB as of Tuesday, April 16, 2024, and
· inform the company of their intention to participate and of any advisors (maximum two) that the shareholder intends to be accompanied by at the Meeting, not later than Thursday, April 18, 2024.
 
Notification of attendance can be given on Euroclear Sweden AB’s website, https://anmalan.vpc.se/euroclearproxy, by post to Trelleborg AB “Årsstämma 2024”, c/o Euroclear Sweden AB, Box 191, SE-101 23 Stockholm, or by telephone to +46 (0) 410-670 04 (weekdays 9:00 a.m.–4:00 p.m.), or by e-mail to generalmeetingservice@euroclear.com.
 
In their notification, shareholders are to state their name, personal identity number, telephone number and the name of any advisors. If participation is supported by power of attorney, this should be sent to the company prior to the Annual General Meeting. If the shareholder is a legal entity, a registration certification or an equivalent authorization document must be enclosed along with the power of attorney. The Company provides power of attorney forms at www.trelleborg.com and by post to shareholders who contact the company and provide an address.
 
Shareholders wishing to participate via postal voting must:
 
· be registered as a shareholder in the shareholders’ register maintained by Euroclear Sweden AB as of Tuesday, April 16, 2024, and
· notify the company of their intention to participate in the Meeting by submitting a postal vote in accordance with the instructions below in such a manner that Euroclear Sweden AB has received the postal vote by Thursday, April 18, 2024 at the latest.
 
A special form is to be used for postal voting. The postal voting form is valid as notification of participation in the Annual General Meeting. The postal voting form is available on the Group’s website www.trelleborg.com.
 
The completed and signed postal voting form is to be sent by mail to Trelleborg AB (publ), “Årsstämma 2024”, c/o Euroclear Sweden AB, Box 191, SE-101 23 Stockholm, Sweden or by e-mail to generalmeetingservice@euroclear.com. The completed form must be in the possession of Euroclear Sweden AB by Thursday, April 18, 2024 at the latest. Shareholders may also submit postal votes electronically through verification using the BankID app via Euroclear Sweden AB’s website https://anmalan.vpc.se/euroclearproxy. Such electronic votes must be submitted by Thursday, April 18, 2024 at the latest.
 
If the shareholder wishes to cast their postal vote through a proxy, a written and dated power of attorney signed by the shareholder must be enclosed with the postal voting form. The power of attorney form is available on the company’s website www.trelleborg.com. If the shareholder is a legal entity, a certificate of registration or an equivalent authorization document must be enclosed along with the form.
 
The shareholder is not allowed to include special instructions or conditions in the postal vote. If special instructions or conditions are included, such a postal vote is rendered invalid. Further information and conditions can be found on the postal voting form and on https://anmalan.vpc.se/euroclearproxy.
 
Note that shareholders who wish to attend the Annual General Meeting in person or via a proxy must provide notification of this according to the instructions under the heading “Shareholders wishing to attend the Meeting venue” above. This means that notification of participation exclusively by postal voting is not sufficient for shareholders who wish to attend the Annual General Meeting in person or via proxy.
 
Holdings registered in the name of a nominee
 
To be entitled to participate in the Annual General Meeting, shareholders whose shares are held in the name of a nominee must, in addition to providing notification of their participation in the Annual General Meeting, re-register the shares in their own name so that the shareholders are registered in the share register as of Tuesday, April 16, 2024. Such registration may be temporary (so-called “voting right registration”) and is requested from the nominee in accordance with the nominee’s procedures at such time in advance as determined by the nominee. Voting right registration completed by the nominee not later than Thursday, April 18, 2024, will be taken into account in the preparation of the share register. The nominee should therefore be notified well in advance of the date referred to above.
 
 
PROPOSED AGENDA
 
1 Opening of the meeting and election of Chairman of the Meeting
2 Preparation and approval of voting list
3 Election of one or two persons to verify the minutes
4 Approval of the agenda
5 Determination of whether the Meeting has been duly convened
6 President’s presentation of operations
7 Consideration of the Annual Report and the Auditor’s Report and the Consolidated Financial Statements and the Consolidated Auditor’s Report.
8 Presentation of the work of the Board of Directors and work of the Remuneration, Audit and Finance Committees.
9 Resolutions concerning:
a) adoption of the Income Statement and the Balance Sheet and the Consolidated Income Statement and the Consolidated Balance Sheet
b) the disposition of the company’s profit in accordance with the adopted Balance Sheet
c) discharge of the members of the Board and the President from personal liability
10 Presentation of the work of the Nomination Committee
11 Determination of the number of members of the Board of Directors
12 Determination of fees for members of the Board of Directors and the auditor
13 Election of the Board of Directors and the Chairman of the Board
The Nomination Committee’s proposal:
a) Gunilla Fransson (re-election)
b) Monica Gimre (re-election)
c) Johan Malmquist (re-election)
d) Peter Nilsson (re-election)
e) Anne Mette Olesen (re-election)
f) Jan Ståhlberg (re-election)
g) Henrik Lange (re-election)
h) Johan Malmquist, as Chairman of the Board (re-election)
14 Election of auditor
15 Resolution on approval of the Board of Directors’ remuneration report
16 Resolution on the Board of Directors’ proposal for principles of remuneration for senior executives
17 Resolution on the Board of Directors’ proposal for the Performance Share Plan (PSP 2024/2027)
18 Resolution on authorization for the Board of Directors to resolve on repurchase of own shares
19 Resolutions on (A) reduction of the share capital by means of cancellation of repurchased shares and (B) increase of the share capital through a bonus issue without issue of new shares
20 Closure of Meeting

PROPOSALS FOR DECISION
 
1 – ELECTION OF CHAIRMAN OF THE MEETING
 
The Nomination Committee proposes that Johan Malmquist be elected as Chairman of the Annual General Meeting.
 
2 – PREPARATION AND APPROVAL OF THE VOTING LIST
 
The voting list that is proposed for approval is the voting list drawn up by Euroclear Sweden AB on behalf of the company, based on the Meeting’s share register, the shareholders who have provided notification and are present in the Meeting venue, and received postal votes.
 
9 (b) – RESOLUTIONS CONCERNING THE DISPOSITION OF THE COMPANY’S PROFIT IN ACCORDANCE WITH THE ADOPTED BALANCE SHEET
 
The Board of Directors proposes a cash dividend to shareholders of SEK 6.75 per share. The proposed record date for the dividend is Friday, April 26, 2024. If the Meeting approves the proposal, the dividend is expected to be distributed by Euroclear Sweden AB on Thursday, May 2, 2024. However, the record date and the payment date may be postponed due to the technical process required to implement payment.
 
11 - DETERMINATION OF THE NUMBER OF MEMBERS OF THE BOARD OF DIRECTORS
 
The Nomination Committee proposes that the Board of Directors shall comprise seven (7) members elected by the Meeting, with no deputies.
 
12 – CONFIRMATION OF FEES FOR MEMBERS OF THE BOARD OF DIRECTORS AND THE AUDITOR
 
The Nomination Committee proposes that the Annual General Meeting resolve that the fees paid to the members of the Board of Directors shall be SEK 5,775,000 (2023: 5,550,000), with SEK 2,150,000 (2023: 2,050,000) to be paid to the Chairman and SEK 725,000 (2023: 700,000) each to be paid to those Board members appointed by the Meeting who are not employed within the Trelleborg Group.
 
The Nomination Committee proposes that fees payable to members of the Audit Committee shall be SEK 305,000 (2023: 290,000) for the Chairman and SEK 180,000 (2023: 170,000) to other members who are not employed within the Trelleborg Group.
 
The Nomination Committee proposes that fees payable to members of the Remuneration Committee shall be SEK 175,000 (2023: 170,000) for the Chairman and SEK 100,000 (2023: 95,000) to other members who are not employed within the Trelleborg Group. 
 
The Nomination Committee proposes that fees payable to those assigned to the Finance Committee shall be SEK 100,000
(2023: 95,000) each for the Chairman and to other members who are not employed within the Trelleborg Group.
 
The Nomination Committee proposes that the auditor’s fees be paid on a current account basis.
 
13 – ELECTION OF THE BOARD OF DIRECTORS AND THE CHAIRMAN OF THE BOARD
 
The Nomination Committee proposes, for the period until the next Annual General Meeting, the re-election of Gunilla Fransson, Monica Gimre, Johan Malmquist, Peter Nilsson, Anne Mette Olesen, Jan Ståhlberg and Henrik Lange. It is proposed that Johan Malmquist be re-elected as Chairman of the Board.
 
Further information on the proposed Board members is available at www.trelleborg.com.
 
14 – ELECTION OF AUDITOR
 
The Nomination Committee proposes, on the recommendation of the company’s Audit Committee, the re-election of Deloitte AB as the company’s auditor for the period until the next Annual General Meeting. Deloitte AB has informed the company that Kent Åkerlund will be auditor in charge in the event that Deloitte AB is re-elected.
 
15 – RESOLUTION ON APPROVAL OF THE BOARD OF DIRECTORS’ REMUNERATION REPORT
 
The Board proposes that the Annual General Meeting resolves to approve the Board of Directors’ remuneration report pursuant to Chapter 8, Section 53 a of the Swedish Companies Act.
 
16 – RESOLUTION ON THE BOARD OF DIRECTORS’ PROPOSAL FOR PRINCIPLES OF REMUNERATION FOR SENIOR EXECUTIVES
The Board proposes that the Annual General Meeting resolves on the following principles for remuneration of senior executives in Trelleborg:
Senior executives, including the President and CEO and other members of Group Management, fall within the scope of these principles. The principles are forward-looking, i. e. they are applicable to remuneration agreed, and amendments to remuneration already agreed, after adoption of the principles by the 2024 Annual General Meeting. These principles do not apply to any remuneration decided on or approved by the Annual General Meeting.
 
Trelleborg is a world leader in engineered polymer solutions that seal, damp and protect critical applications in demanding environments. Trelleborg’s strategy of securing leading positions in selected industries is supported by four strategic cornerstones: Geographical balance, Portfolio optimization, Structural improvements and Excellence. These ensure that all levels within the Group maintain focus and conduct activities that are in line with the strategy. For more information regarding Trelleborg’s business strategy, please see the section of Group’s strategy at www.trelleborg.com.
 
A prerequisite for the successful implementation of Trelleborg’s business strategy and safeguarding of its long-term interests, including its sustainability strategy, is that Trelleborg is able to recruit, develop and retain qualified senior executives. To this end, it is necessary that Trelleborg offers market aligned and competitive remuneration. These principles enable Trelleborg to offer senior executives competitive total remuneration. The aim of all variable remuneration covered by these principles is to promote Trelleborg’s business strategy and long-term interests, including its sustainability profile.
 
Types of remuneration
 
The remuneration levels for all roles within the organization are regularly compared with levels for comparable roles in similar organizations and in the employee’s local market. A grading system (IPE) is used to determine the role’s weight within Trelleborg. In order to ensure genuine understanding of market levels, normal market data is used from several sources and a reference group is compiled. When remuneration is determined, the role is considered in terms of how critical it is and its availability in the market. The method is intended to ensure that the compensation offered by Trelleborg means the Group can attract and retain the right talent at the right cost level. Remuneration is to be on market terms and may consist of the following components: fixed salary, variable remuneration, pension benefits and other benefits. Additionally, the Annual General Meeting may – irrespective of these principles – resolve on, among other items, share-based or share-price-based remuneration.
 
The satisfaction of criteria for awarding variable cash remuneration is to be measured over a period of one year (short-term incentive program) or several years (long-term incentive programs). The following applies for senior executives, including the President and CEO:
- the short-term incentive program may amount to not more than 100 percent of the fixed salary during the measurement period.
- the long-term incentive programs may amount to not more than 100 percent of the fixed salary during the measurement period.
 
Further variable cash remuneration may be awarded in extraordinary circumstances, provided that such extraordinary arrangements are limited in time and only made on an individual basis, either for the purpose of recruiting or retaining senior executives, or as remuneration for extraordinary performance beyond the individual’s ordinary tasks. Such remuneration may not exceed an amount corresponding to 100 percent of the fixed salary and may not be paid more than once each year per individual. Any resolution on such remuneration for the President and CEO shall be made by the Board based on a proposal from the Remuneration Committee. Any resolution on such remuneration for other senior executives shall be made by the Remuneration Committee based on a proposal from the President and CEO.
 
Variable remuneration will only qualify for pension benefits to the extent required by mandatory collective agreement provisions or otherwise stated by local law.
 
For the President and CEO, pension benefits, including health insurance, must be defined contribution pension. Variable remuneration does not qualify for pension benefits. The pension premiums for defined contribution pension are to amount to not more than 45 percent of the fixed salary. For other senior executives, pension benefits, including health insurance, are to be defined contribution unless the individual concerned is subject to defined benefit pension under mandatory collective agreement provisions or otherwise stated by local law. The pension premiums for defined contribution pension are to amount to not more than 35 percent of the fixed salary.
 
Other benefits may include, for example, life insurance, medical insurance and company car. Premiums and other costs relating to such benefits may amount to not more than 15 percent of the fixed salary.
For employment contracts governed by legislation outside of Sweden, pension benefits and other benefits may be duly adjusted for compliance with mandatory rules or established local practice, taking into account, to the extent possible, the overall purpose of these principles.
 
Trelleborg currently has no long-term share-based incentive program. The Board of Directors proposes that the 2024 Annual General Meeting resolves to introduce a new share program for the President and Group Management at Trelleborg Group (PSP 2024/2027) for the purpose of incentivizing senior executives to own Trelleborg shares at a value equivalent to at least one fixed year’s salary. PSP 2024/2027 has a clear link to Trelleborg’s business strategy and thereby the company’s long-term value generation, including its sustainability. The resolution to adopting the program is made by the Annual General Meeting and the program is therefore not covered by these guidelines.
 
Criteria for awarding variable cash remuneration
 
The variable remuneration is to be linked to predetermined and measurable criteria of a financial or non-financial nature. They may also be individualized, quantitative or qualitative objectives. The criteria are to be designed so that they contribute to Trelleborg’s business strategy and long-term interests, including its sustainability strategy by, for example, being clearly linked to the business results or promoting the senior executive’s long-term development.
 
The extent to which the criteria for awarding variable remuneration have been fulfilled is to be evaluated/determined when the measurement period has ended. The Remuneration Committee is responsible for evaluating variable remuneration to the President and CEO, subsequently to be approved by the Board of Directors. For variable remuneration to other senior executives, the President and CEO is responsible for the evaluation, subsequently to be approved by the Remuneration Committee, in accordance with the grandparent principle. For financial objectives, the evaluation is to be based on the latest financial information published by the Trelleborg Group.
 
Right to withhold or reclaim remuneration
 
Terms and conditions for variable remuneration are to be designed so that the Board of Directors (i) has the right to limit or refrain from payment of variable remuneration if exceptional economic circumstances occur and if such a measure is considered reasonable, and (ii) has the right to withhold or reclaim variable remuneration paid to an executive based on results that afterwards were found to have been misstated because of wrongdoing or malpractice (so called malus and claw back).
 
The Board of Directors may, at its discretion, limit or refrain from payment of the individual variable salary if a senior executive, including the President and CEO, has breached or neglected Trelleborg’s Code of Conduct and/or Trelleborg’s sustainability commitments as a responsible corporate citizen, including environmental, social and governance factors.
 
Termination of employment
 
If employment of a senior executive is terminated by the company, the contractual notice period will not exceed 24 months. During the notice period all employment conditions will apply, unless otherwise expressly agreed between the company and the employee. No additional severance payments will be made to the employee. When a senior executive terminates their employment, the contractual notice period will not exceed six months, and there is no right to any severance pay.
 
Salary and employment conditions for employees
 
In the preparation of the Board of Directors’ proposal for these remuneration principles, current salary and employment conditions for employees of Trelleborg have been taken into account. Information on the employees’ total income, the components of the remuneration, and its increase and growth rate over time, have been evaluated. Thereafter, the Remuneration Committee and the Board of Directors decide whether the principles and the limitations set out herein are reasonable.
 
Decision-making process to determine, review and implement the principles
 
The Board of Directors has established a Remuneration Committee. The Committee’s tasks include preparing the Board of Directors’ decision to propose remuneration principles for Group Management. The Board of Directors is to prepare a proposal for new principles at least every fourth year and submit such proposal to the Annual General Meeting. The principles shall apply until new principles are adopted by the Annual General Meeting. The Remuneration Committee is also to monitor and evaluate programs for variable remuneration for senior executives, the application of the principles for senior executive remuneration as well as the current remuneration structures and levels in Trelleborg. The members of the Remuneration Committee are independent from Trelleborg and its senior executives. The President and CEO including other members of senior executives do not participate in the Board of Directors’ processing of and resolutions regarding remuneration-related matters in so far as they are affected by the same.
 
Derogation from the principles
 
The Board of Directors may temporarily resolve to derogate from the principles, in whole or in part, if in a specific case there is special cause for the derogation and a derogation is necessary to serve Trelleborg’s long-term interests, including its sustainability strategy, or to ensure Trelleborg’s financial viability. As set out above, the Remuneration Committee’s tasks include preparing the Board of Directors’ resolution in remuneration-related matters. This includes any resolution to derogate from the principles.
 
Shareholder’s views
 
The Board of Directors has not received any views from the shareholders on the principles of remuneration for senior executives.
 
Description of significant changes compared to previous principles of remuneration for senior executives
 
No significant changes are proposed to the principles for remuneration of senior executives. In relation to the principles of remuneration for senior executives adopted by the 2023 Annual General Meeting, it is proposed that the principles are supplemented under the section Types of remuneration with information about Trelleborg’s work to assess the Group’s remuneration levels to ensure that Trelleborg’s employees receive market-based remuneration.
 
17 – RESOLUTION ON THE BOARD’S PROPOSAL FOR THE PERFORMANCE SHARE PLAN (PSP 2024/2027)
The Board of Directors proposes that the Annual General Meeting resolves to introduce a new share program for the President and Group Management at Trelleborg Group (PSP 2024/2027). PSP 2024/2027 is the first of several long-term incentive programs that the Company’s Board intends to propose for resolution at upcoming annual general meetings. The main principles of PSP 2024/2027 are described below.
PSP 2024/2027 is proposed to apply to the President and Group Management at Trelleborg Group, a total of seven individuals. To take part in PSP 2024/2027, participants must invest in Series B shares in Trelleborg AB (publ) (“Trelleborg” or “the Company”) (“Saving Shares”) at market price. Following the publication of the Company’s year-end report for the full-year 2026, the participant will be given an opportunity to receive, free of charge, up to three (3) Series B shares in the Company (“Performance Shares”) for each Saving Share purchased within the framework of PSP 2024/2027 provided that performance conditions are met according to the following conditions.
It is the Board’s ambition to present similar share program proposals to future annual general meetings. The Company’s objective is that each participant will eventually own shares in the Company at a value equivalent to at least their fixed year’s salary.

A. Main terms and conditions for PSP 2024/2027
Reasons for the proposal
The purpose of PSP 2024/2027 is to strengthen Trelleborg Group’s ability to retain and recruit qualified senior executives, offer an internationally competitive remuneration and unite the interests of shareholders and affected executives by offering participants an opportunity to become significant shareholders in the Company. Through a share-based incentive program, employee remuneration is connected to the Company’s future earnings and value growth and thereby creates a long-term incentive for participants in the program. Against this background, the Board is of the opinion that the introduction of PSP 2024/2027 can be expected to have a positive impact on the Group’s long-term value growth and that PSP 2024/2027 therefore benefits shareholders and the Company.

Participants in PSP 2024/2027, Saving Shares and award of Performance Shares
PSP 2024/2027 is proposed to apply to the President and other members of Group Management, a total of seven individuals. To take part in PSP 2024/2027, participants must make a private investment in Saving Shares in the stock market and allocate these to PSP 2024/2027 during the period May 1 until December 31, 2024 (the “Investment Period”), with the exceptions described below. The value of a participant’s Saving Shares is based on the market price of the Company’s Series B shares and is to amount to a value equivalent to ten (10) percent of each participant’s annual fixed salary on the date of the private investment.
If the participant holds insider information and is therefore prevented from acquiring Saving Shares during the Investment Period, the participant shall acquire Saving Shares as soon as possible, but not later than the next Annual General Meeting.

Performance conditions
The award of Performance Shares is dependent on the extent to which the performance conditions for PSP 2024/2027 were met. The performance condition relates to the development of Trelleborg’s earnings per share compared with the Board’s established level for target achievement during the measurement period January 1, 2024 to December 31, 2026, when the last fiscal year during the measurement period is compared with the fiscal year immediately preceding the measurement period, subject to any reduction in the number of shares in accordance with the conditions for PSP 2024/2027.
If the minimum level established by the Board in the interval during the measurement period is reached, one (1) Performance Share per Saving Share will be awarded during the first quarter of 2027. If the target level established by the Board in the interval during the measurement period is reached, two (2) Performance Shares per Saving Share will be awarded during the first quarter of 2027, and if the maximum level established by the Board in the interval during the measurement period is reached, three (3) Performance Shares per Saving Share will be awarded during the first quarter of 2027. If the minimum level established by the Board in the interval during the measurement period is not reached, the participant will not receive any Performance Shares. 
The Board of Directors intends to present the achievement of the performance-based conditions in the Annual Report for the 2027 fiscal year.

Other terms and conditions
In addition to the above conditions, the following shall apply.
(i) The participant is entitled to receive, free of charge, up to three (3) Performance Shares per Saving Share following publication of Trelleborg’s year-end report for the full-year 2026 (“Vesting Period”). Entitlement requires that the holder is still employed in the Trelleborg Group on the date of the allocation and has retain all Saving Shares within the framework of PSP 2024/2027. Derogation from the requirement of employment may be reported in individual cases, for example due to the death, disability or retirement of a participant.
(ii) The number of Performance Shares to which a participant is entitled may be subject to conversion due to certain events, such as a rights issue and extraordinary dividend.
(iii) The Company’s objective is that each participant will eventually own shares in the Company at a value equivalent to at least their fixed year’s salary. After the end of the vesting period, participants are therefore not expected to transfer Saving Shares or vested Performance Shares so a participants total shareholding in the Company falls below a value equivalent to their fixed annual salary on the date of the transfer.

Design and management
The Board is responsible for the detailed design of the terms and conditions for PSP 2024/2027 within the framework of stated conditions and guidelines. As part of this responsibility, the Board has the right to make adjustments to fulfil special rules or market conditions abroad. The Board also has the right to make other adjustments if there are significant changes in the Trelleborg Group or the market that would entail that the resolved terms and conditions under PSP 2024/2027 are no longer appropriate or reasonable. Such adjustments apply to the right of the Board to resolve on a reduction in the number of Performance Shares to which a participant is entitled, if the number of Performance Shares to which a participant is entitled otherwise, taking into account Trelleborg’s earnings and financial position, the Group’s general development as well as conditions in the stock market, would be obviously unreasonable.
In the event that the Board is of the opinion that delivery of shares under PSP 2024/2027 cannot be effected at a reasonable cost, with reasonable administrative effort or due to specific market conditions, the Board has the right to make appropriate local adjustments to the program or instead offer participants a cash settlement.

Scope and cost of the program
The total number of Series B shares that a participant can allocate as Savings Shares and the total number of Performance Shares that can be awarded are based on the market price of the Company’s Series B share. Assuming the Company’s Series B share at the time of the allocation of Savings Shares under PSP 2024/2027 are traded at about SEK 380, PSP 2024/2027 is estimated, using the principles and assumptions set out, to encompass no more than 45,000 Performance Shares, which corresponds to 0.00017 percent of the total number of shares issued in the Company and approximately 0.000088 percent of the total number of votes in the Company.
The outcome of PSP 2024/2027 may, at unchanged share price for the Company’s Series B share during the duration of the program, not exceed an amount equivalent to 30 percent of the participant’s annual fixed salary (excluding payroll overheads).
The costs for PSP 2024/2027 will be expensed as personnel costs. The total cost of PSP 2024/2027 before tax is estimated, in accordance with the principles and assumptions described above, to amount to approximately SEK 15 M. The amount includes an estimated cost of payroll overheads and financing costs. The costs for PSP 2024/2027 are expected to have a marginal impact on the Trelleborg Group’s key figures.
The Board of Directors is of the opinion that the positive earnings effects that are expected to arise from increased share ownership by the Group’s senior executives through PSP 2024/2027 outweighs the costs relating to the program.

B. Authorization for the repurchase of Series B shares
The Board of Directors proposes that the Annual General Meeting authorizes the Board, on one or more occasions, during the period until the next Annual General Meeting, to resolve on the repurchase of own shares of Series B in Trelleborg on Nasdaq Stockholm in accordance with the following conditions.
(i) Series B shares may only be repurchased on Nasdaq Stockholm.
(ii) A maximum of 45,000 Series B shares may be acquired to ensure delivery of shares to participants in PSP 2024/2027.
(iii) Series B shares may only be purchased at a price within the price range prevailing at the time on Nasdaq Stockholm, that is to say, the interval between the highest bid price and the lowest offer price that are continuously published on Nasdaq Stockholm.
(iv) Payment for repurchased own shares shall be made in cash.
(v) The Board may decide on the other conditions for the repurchase of own Series B shares.
The purpose of the proposed repurchasing authorization is to ensure delivery of shares and associated costs, such as payroll overheads, for PSP 2024/2027.
 
C. Resolution on the transfer of own Series B shares
In order to fulfil the Company’s obligations related to participants in PSP 2024/2027, the Board proposes that the Annual General Meeting resolves that the Company transfers own Series B shares as follows:
(i) No more than 45,000 Series B shares may be transferred.
(ii) The right to acquire Trelleborg’s Series B shares, free of charge, shall, disapplying the preferential rights of the shareholders, be reserved for such individuals within the Trelleborg Group who are participants in PSP 2024/2027. Furthermore, subsidiaries of Trelleborg shall, disapplying the preferential rights of the shareholders, have the right to acquire Trelleborg’s Series B shares, free of charge, after which such a company is obliged, in accordance with the conditions of PSP 2024/2027, transfer the shares to such individuals within the Trelleborg Group who are participating in PSP 2024/2027.
(iii) The transfer of Trelleborg’s Series B shares shall be free of charge at the time when, and in line with other conditions, participants in PSP 2024/2027 are entitled to receive shares, i. e. expected in the 2025 fiscal year.
(iv) The Board may decide on the other conditions for the transfer of own Series B shares.
The reason for the proposed deviation from the preferential rights of the shareholders, is that the transfer of own shares forms one part of establishing PSP 2024/2027. The Board is of the opinion that the establishment of PSP 2024/2027 will benefit the Company and shareholders since participants are given an opportunity to own shares in the Company.
In the event that the required majority cannot be obtained for the acquisition and transfer of own shares to participants in PSP 2024/2027 as outlined above, the Company intends to hedge the financial exposure of PSP 2024/2027 and the delivery of shares in accordance with the conditions of PSP 2024/2027 by entering into a share swap agreement with a third party, whereby the third party in their own name is to acquire and transfer Series B shares to participants in accordance with the conditions of PSP 2024/2027.

Majority rules, etc.
The Board proposes that resolutions according to items A, B and C above shall be made by the Annual General Meeting as separate decisions. The proposals under items B and C pertaining to the proposals on the acquisition and transfer of own Series B shares shall be conditional on the resolution of the Annual General Meeting in accordance with item A on the establishment of PSP 2024/2027 and vice versa.
The resolution of the Annual General Meeting on the establishment of PSP 2024/2027 as above requires a majority of more than half of the votes cast at the Annual General Meeting. The validity of the decision to authorize the Board to acquire own shares on Nasdaq Stockholm as outlined above requires the support of shareholders representing not less than two-thirds of both the votes cast and the shares represented at the Annual General Meeting. The validity of the decision to transfer own shares in PSP 2024/2027 as outlined above requires the support of shareholders representing not less than nine-tens of both the votes cast and the shares represented at the Annual General Meeting.

Preparing the proposal
PSP 2024/2027 was initiated by Trelleborg’s Board and drawn up in consultation with external advisors. The program was prepared by the Board’s Remuneration Committee and addressed at Board meetings. Peter Nilsson, President and CEO and Board member, who may participate in the proposed PSP 2024/2027, did not take part in preparing the matter.

Other
The Company currently has no outstanding share-related incentive programs.

18 – RESOLUTION ON AUTHORIZATION FOR THE BOARD OF DIRECTORS TO RESOLVE ON REPURCHASE OF OWN SHARES
The Board of Directors proposes that the Annual General Meeting authorizes the Board to resolve on the acquisition of own Series B on the following terms and conditions:
(i) the acquisition may take place on Nasdaq Stockholm, on one or more occasions before the next Annual General Meeting;
(ii) the acquisition may be of no more than the number of Series B shares so the company’s holding of own shares at the time amounts to no more than one tenth of all of the shares in the company, on condition that there is sufficient non-restricted equity, based on the latest adopted Balance Sheet;
(iii) the acquisition may take place at a price within the market price range registered at the time (i. E. the interval between the highest bid price and the lowest offer price); and
(iv) payment for the acquired shares shall be made in cash.
The objective of the proposed authorization is to provide the Board with an opportunity to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intention is that upcoming annual general meetings will resolve on the cancellation of the repurchased shares.
 
The Board is entitled to decide on the other conditions for the repurchase of own shares. The Board Chairman, or the person appointed by the Board Chairman, is authorized to undertake minor adjustments to the above proposal that may be necessary when executing the Board’s decision to repurchase own shares.
 
The decision to authorize the Board to acquire own Series B shares requires the support of shareholders representing not less than two-thirds of both the votes cast and the shares represented at the Meeting.
 
19 – RESOLUTIONS ON (A) REDUCTION OF THE SHARE CAPITAL BY MEANS OF CANCELLATION OF REPURCHASED SHARES AND (B) INCREASE OF THE SHARE CAPITAL THROUGH A BONUS ISSUE WITHOUT ISSUE OF NEW SHARES
 
A. Reduction in share capital by canceling own shares
The Board of Directors proposes that the Annual General Meeting resolves on the reduction in share capital by canceling own shares. The purpose of the reduction is provisions for non-restricted equity.
 
The reduction in share capital is to take place through the cancellation of 13,578,733 own Series B shares held by the company. The reduction in share capital will amount to SEK 139,465,158 through the cancellation of 13,578,733 Series B shares.
 
The resolution to reduce share capital according to this item (A) can be performed without requiring a permit from the Swedish Companies Registration Office or, in the event of a dispute, a general court since the company concurrently conducts a bonus issue, according to item (B) below, in an amount equivalent to the lowest amount by which the share capital will decrease, as outlined above. In total, these measures will mean that neither the company’s restricted equity nor share capital will decrease.
 
B. Bonus issue
In order to restore the share capital following the proposed decrease in share capital in accordance with item (A) above, the Board of Directors proposes that the Annual General Meeting resolves at the same time to increase the company’s share capital through a bonus issue of SEK 139,465,158 by transferring SEK 139,465,158 from the company’s non-restricted equity. The bonus issue will be performed without issuing new shares.
 
Board of Directors’ report pursuant to Chapter 20, Section 13, fourth paragraph of the Swedish Companies Act
 
On account of the Board’s proposal for decision on reducing share capital by the withdrawal of shares, the Board of Directors submits the following report pursuant to Chapter 20, Section 13, fourth paragraph of the Swedish Companies Act.
 
As specified in the Board’s proposal to reduce share capital, the Board of Directors proposes that the company’s reduction in share capital will amount to SEK 139,465,158 through the cancellation of 13,578,733 Series B shares as a provision for non-restricted equity.
 
In order to achieve a time-efficient redemption process, with no requirements for a permit from the Swedish Companies Registration Office or general court, the Board has also proposed that the Annual General Meeting resolves to restore the company’s share capital to its current amount by increasing share capital by SEK 139,465,158 through a bonus issue without the issuance of new shares. The amount shall be transferred from the company’s non-restricted equity to the company’s share capital.
 
The reduction in share capital through the withdrawal of shares reduces the company’s share capital by SEK 139,465,158 and the bonus issue increases the company’s share capital by the same amount. After the completion of the bonus issue, the company’s equity and share capital will therefore be unchanged.
 
Following the reduction in the share capital and the bonus issue, the number of shares will be 241,547,186, of which 28,500,000 Series A shares and 213,047,186 Series B shares.
 
The Board of Directors proposes that the Annual General Meeting resolves to authorize the Board, or the person appointed by the Board, to undertake such minor adjustments to the decisions in accordance with items (A) and (B) above that may be necessary to register the decisions with the Swedish Companies Registration Office or Euroclear Sweden AB and otherwise undertake the necessary measures to execute the decision.
 
The decisions under items (A) and (B) are conditional on one another. The validity of the Meeting’s decision in accordance with the Board’s proposal requires the support of shareholders representing not less than two-thirds of both the votes cast and the shares represented at the Meeting.
 
ANNUAL REPORT AND OTHER DOCUMENTATION PROVIDED
 
The Nomination Committee’s reasoned statement, the power of attorney form and postal voting form will be available at the company’s head office, Johan Kocksgatan 10, 231 45 Trelleborg, Sweden and on the company’s website www.trelleborg.com. Financial statements, the auditor's report and other documents to be made available to shareholders as stipulated by the Swedish Companies Act will be available at the company’s premises and on the company's website www.trelleborg.com not later than three weeks prior to the Meeting. The documents will be sent free of charge to the recipient for shareholders who make such a request and provide a postal address.
 
SHAREHOLDERS’ RIGHT TO RECEIVE INFORMATION
 
In accordance with Chapter 7, Section 32 of the Swedish Companies Act, the Board of Directors and the President shall, if a shareholder so requests and the Board of Directors considers it possible without this resulting in material damage to the company, provide information at the Annual General Meeting concerning conditions that could influence the assessment of items on the agenda, conditions that could influence assessments of the financial condition of the company or subsidiaries as well as the company’s relationship with other Group companies, and information on the consolidated financial statements.
 
OTHER INFORMATION
 
The number of shares in the company on the date of this notice amounts to 255,125,919, of which 28,500,000 are Series A shares (ten votes per share) and 226,625,919 Series B shares (one vote per share). The company holds 14,514,733 own Series B shares in treasury. The total number of votes in the company amounts to 511,625,919. The Corporate Registration Number of Trelleborg AB (publ) is 556006-3421 and its registered office is in Trelleborg, Sweden.
 
For information on how your personal data is processed, refer to https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.
 
 
Trelleborg, March 2024
Trelleborg AB (publ)
BOARD OF DIRECTORS

During the period March 11 to March 15, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 215,622 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.

The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.

Shares of series B in Trelleborg have been repurchased (in SEK) as follows:

All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of March 15, 2024, amounts to 14,472,938 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.

A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period March 4 to March 8, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 219,856 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of March 8, 2024, amounts to 14,257,316 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period February 26 to March 1, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 231,569 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of March 1, 2024, amounts to 14,037,460 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

Trelleborg Group’s Annual Report for 2023 is now available to download on the Group’s website.

A pdf version is attached to this press release. The Swedish Annual Report is also available on Trelleborg’s website in a European Single Electronic Format (ESEF).

A printed version of the Annual Report can be ordered at the following link.

During the period February 19 to February 23, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 227,158 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of February 23, 2024, amounts to 13,805,891 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period February 12 to February 16, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 336,800 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of February 16, 2024, amounts to 13,578,733 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

Jürgen Bosch has been appointed new Business Area President of Trelleborg Sealing Solutions and member of Group Management effective from April 1, 2024. Jürgen Bosch is currently heading the Global Aerospace business as well as Industrial Europe within the business area Trelleborg Sealing Solutions. He has held various senior positions in the business area since 2010.

As a planned succession, Jürgen will replace Peter Hahn as new Business Area President. Peter Hahn has decided, after 23 years at Trelleborg, including seven years as President of the business area Trelleborg Sealing Solutions, to continue to work for the Group in a new role as a senior advisor focusing on development projects.

“Jürgen Bosch has shown strong leadership and good results for many years. He will continue to lead the growth journey within industries such as aerospace, semiconductors, food processing, robotics and automation. An important task will also be to realize the full synergies from recent acquisitions”, says Peter Nilsson, President and CEO of Trelleborg.

Trelleborg has, as previously communicated, decided to establish the new business area Trelleborg Medical Solutions. The new business area will consist of the healthcare & medical operations within the Trelleborg Sealing Solutions business area including the signed acquisition of Baron Group.

“I would like to thank Peter Hahn, who has successfully led the business area for the past seven years. His dedication to provide the best solutions for customers combined with a strong focus on applications in selected segments, has laid the foundation for the positive development. I am pleased that he will continue to support the Group in a new role as senior advisor," continues Peter Nilsson.

The new organization will be implemented from April 1, 2024. In March, Trelleborg will report restated financial figures for both Trelleborg Medical Solutions and Trelleborg Sealing Solutions in its new structure. The Trelleborg Industrial Solutions business area will not be affected by the new Group organization.

Webcast:
Analysts, investors, and media are invited to participate in a teleconference at 11:00 CET today, February 14, 2024. Trelleborg’s President and CEO Peter Nilsson will present the Group’s new structure, and Linda Muroski will present Trelleborg Medical Solutions business area.

If you wish to participate via webcast, please use the link below.
https://ir.financialhearings.com/trelleborg-press-conference-feb-2024

If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=5008031

Trelleborg Group has decided to establish a new business area, Trelleborg Medical Solutions. The new business area will consist of the healthcare & medical operations within the Trelleborg Sealing Solutions business area including the signed acquisition of Baron Group. The business area will reinforce Trelleborg’s focus on the fast-growing healthcare and medtech industry.

The head office of the new business area will be located in Minneapolis, USA and led by Linda Muroski. Linda is currently heading Global Healthcare & Medical as well as Industrial Americas within the business area Trelleborg Sealing Solutions.

“The Healthcare and Medical market segment within the Group has grown successfully for several years. We are now establishing a platform from which we intend to grow further. With the recently signed acquisition of Baron Group and the upcoming new facility in Costa Rica, the market segment will represent a larger share of the Group’s sales. Linda Muroski, who has successfully led the Global Healthcare & Medical business within Trelleborg Sealing Solutions for several years, will become President of the new business area and will join the Group Management,” says Peter Nilsson, President and CEO of Trelleborg.

The healthcare and medtech markets are projected to grow more than five percent annually, driven by increased healthcare spending, an ageing population, a growing middle class and rising demand in the Asia-Pacific region.

Trelleborg Medical Solutions will offer a broad portfolio of polymer-based solutions for both medtech and biopharma. The business area will initially generate sales of about SEK 3.6 billion proforma on a yearly basis, including the acquisition of Baron Group. The operations will comprise fourteen production facilities and four tool and innovation centers spread all over the world. Sales and production are geographically largest in North America, followed by Asia and Europe.

The new organization will be implemented from April 1, 2024. In March, Trelleborg will report restated financial figures for both Trelleborg Medical Solutions and Trelleborg Sealing Solutions in its new structure. The Trelleborg Industrial Solutions business area will not be affected by the new Group organization.

Webcast:
Analysts, investors, and media are invited to participate in a teleconference at 11:00 CET today, February 14, 2024. Trelleborg’s President and CEO Peter Nilsson will present the Group’s new structure, and Linda Muroski will present Trelleborg Medical Solutions business area.

If you wish to participate via webcast, please use the link below.
https://ir.financialhearings.com/trelleborg-press-conference-feb-2024

If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=5008031

During the period February 5 to February 9, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 277,565 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of February 9, 2024, amounts to 13,241,933 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

Trelleborg has decided to invest in a new production facility in Costa Rica for medical technology solutions. The new facility will be established close to a number of international customers with operations in the region. On completion, the facility will offer a full product suite of engineered polymer solutions within healthcare & medical.

Covering an area of 10,000 square meters, the production facility will be Trelleborg’s first in Central America and is expected to be completed in 2025. The Group will invest approximately SEK 225 M in total between 2024 and 2025.

“Costa Rica has evolved into a medical technology hub in Central America and the facility therefore represents an important step in both increasing our capacity and broadening our geographical footprint in healthcare & medical. The facility is being built for customers with global sales, and the capacity it will add will also benefit Baron Group, the Australian-Chinese company we recently signed an agreement to acquire. Trelleborg’s know-how combined with Baron’s technology will provide the basis for the new facility,” says Peter Nilsson, President and CEO of Trelleborg.

The state-of-the-art facility is being built in the city of Grecia, close to the port and an international airport, and a half-hour drive from the main cities in western Costa Rica. It will feature cleanroom production and be designed to meet stringent industry-specific standards for medical device manufacturing, as well as ensuring efficient and sustainable production processes. Sustainability will permeate the building, which will be Leadership in Energy & Environmental Design (LEED) certified.

Trelleborg Group is strengthening its position in healthcare & medical by taking yet another major step forward. Trelleborg has, through its business area Trelleborg Sealing Solutions signed an agreement to acquire Baron Group, a prominent Australian-Chinese company in the manufacturing of advanced precision silicone components. This acquisition strengthens Trelleborg’s application expertise, manufacturing capacity and positions the Group as a global partner for medical technology products, in areas such as sleep apnea, respiratory care and chronic obstructive pulmonary disease (COPD).

Baron Group generated sales of approximately SEK 1,000 M in 2023 with a margin well in line with that of the Trelleborg Sealing Solutions business area. The privately held company has its head office and two manufacturing facilities in Australia, as well as two additional facilities in China. The Australian manufacturing facilities are also active in several attractive industrial segments in addition to medical technology.

By providing substantially expanded manufacturing capacity for injection molding of silicone and plastics, along with increased global manufacturing capacity for liquid silicone rubber (LSR), Trelleborg is strengthening its presence in Asia and Australia. This enables Trelleborg to effectively meet customers’ growing needs for global partnerships while leveraging the anticipated growth in Asia Pacific and North America.

“The acquisition of Baron Group marks a significant milestone in our ambition to build a comprehensive and complete healthcare & medical offering. The company's complementary culture and similar working methods make Baron Group an excellent addition to Trelleborg's existing offerings. We are convinced that this partnership will generate significant sales and production synergies,” says Peter Nilsson, President and CEO of Trelleborg Group.

“Baron Group and Trelleborg share a common vision when it comes to offering outstanding customer service, from prototyping to serial production. Together with Baron, we will not only strengthen our production capacity and application expertise in complex precision components but also benefit from its outstanding tool making and material laboratory,” says Peter Hahn, President of the Trelleborg Sealing Solutions business area.

The purchase price is USD 300 M on a cash and debt-free basis. The seller may also potentially receive an additional amount of conditional consideration of up to USD 100 M after three years, that payment is entirely dependent upon the company's performance meeting prescribed financial thresholds and other conditions. The acquisition is synergistic and is projected to demonstrate good organic growth. The transaction is expected to be finalized in the first half of 2024, subject to the approval of the relevant authorities.

During the period January 29 to February 2, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 275,734 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of February 2, 2024, amounts to 12,964,368 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

A solid end to the year

”2023 was Trelleborg’s best year to date, with the Group reporting its highest sales and earnings on record. During the year, we transformed and improved Trelleborg in a number of ways. We established the platform that we will continue to build on and which is characterized by higher growth and profitability. At the same time the business has become less cyclical and gained a better sustainability profile.
 
During the fourth quarter, sales increased by 4 percent. Organic sales remained unchanged and acquisitions contributed 3 percent. EBITA, excluding items affecting comparability, increased 6 percent, corresponding to an operating margin of 16.9 percent. Both sales and EBITA, with corresponding margin, were the best to date for a fourth quarter and represented a solid end to the year.
 
Trelleborg Industrial Solutions reported organic sales for the quarter that were marginally lower year-on-year. This minor decline was primarily due to lower sales in Asia and weaker construction markets. In contrast, sales to the marine segment remained strong, mainly supported by larger project transactions, while deliveries to the automotive industry increased. It was particularly gratifying that the business area further improved its profitability.
 
The performance of Trelleborg Sealing Solutions’ market segments also varied. Overall, organic sales increased slightly year-on-year. The organic trend was primarily due to price adjustments for customers. Sales to general industry were weaker in Europe and North America. Deliveries to the automotive industry developed positively, while sales to healthcare & medical slowed slightly due to inventory adjustments among customers. Deliveries to the aerospace industry continued to perform strongly.
 
The integration of the acquired Minnesota Rubber & Plastics is progressing according to plan. A range of initiatives are in progress that will lead to greater sales synergies over time. During the quarter a new state-of-the-art facility was inaugurated in Vietnam, which will strengthen Trelleborg Sealing Solutions’ presence and capacity, primarily in Southeast Asia.
 
In December, we signed an agreement to acquire the South Korean MNE Group, a leading manufacturer of precision seals for semiconductor production equipment. The acquisition brings new technology and provides a base in Asia in this attractive segment.
 
We maintained a high level of investment activity during the year in the form of new capacity and expansion of our presence in selected geographies and market segments. In 2024, we will continue to invest at a high rate. We will focus on fast-growing segments, for example aerospace, healthcare & medical, semiconductors and other selected industrial niches.
 
We find ourselves in a somewhat cooler macro environment compared to the beginning of 2023. However, the Group stands well equipped with a very strong balance sheet that enables both value-creating acquisitions and continued share repurchases. We look to the future with confidence.
 
Our general assessment in the current situation is that demand in the first quarter will be on a par with the fourth quarter”, says Peter Nilsson, President and CEO.

Fourth quarter 2023 – continuing operations

• Net sales for the quarter increased 4 percent to SEK 8,421 M (8,113). Organic sales were unchanged compared with the preceding year, while structural changes increased sales by 3 percent and currency by 1 percent.

• EBITA, excluding items affecting comparability, increased 6 percent to SEK 1,424 M (1,340). The EBITA margin was 16.9 percent (16.5). Earnings and the margin were the highest to date for a fourth quarter.

• Operating cash flow amounted to SEK 1,321 M (1,678), down 21 percent. This was the second highest operating cash flow for a fourth quarter. The cash conversion ratio for the most recent 12-month period amounted to 92 percent (74).

• Items affecting comparability for the quarter were SEK -260 M (-115) and pertained to restructuring costs of SEK -173 M (-115) and a capital loss from the divestment of a US offshore oil & gas operation of SEK -87 M, in line with what was previously communicated.

• EBITA, including items affecting comparability, amounted to SEK 1,164 M (1,225) for the quarter.

• Earnings per share for continuing operations, excluding items affecting comparability, amounted to SEK 4.08 (3.40), up 20 percent. For the Group as a whole, earnings per share were SEK 3.40 (4.66). The comparable figure in the year-earlier quarter includes a contribution of SEK 1.68 from discontinuing operations.

• The Board of Directors proposes a cash dividend of SEK 6.75 per share (6.00).

• The key figures in this report relate to continuing operations, unless otherwise stated. 

Full-year 2023 – continuing operations

• Net sales for the full-year 2023 increased 14 percent to SEK 34,286 M (30,095). Sales were the highest to date for a full year. Organic sales increased 2 percent, while structural changes increased sales by 7 percent and currency movements by 5 percent compared with the preceding year.

• EBITA, excluding items affecting comparability, increased 13 percent to SEK 6,002 M (5,334), corresponding to an EBITA margin of 17.5 percent (17.7). Earnings were the highest to date for a full year.

• Items affecting comparability were SEK -614 M (-241) and pertained to restructuring costs of SEK -527 M (-381) and a capital loss from the divestment of a US offshore oil & gas operation of SEK -87 M (2022 included a capital gain from the sale of assets of SEK 140 M). The relatively higher restructuring costs for 2023 are mainly attributable to adjustments to lower demand.

• Earnings per share, excluding items affecting comparability, amounted to SEK 16.64 (13.80), up 21 percent. For the Group as a whole, including discontinuing operations, earnings per share were SEK 40.24 (19.94), mainly impacted by the capital gain from divestments of the Group’s tire and printing blanket operations. These were divested in the second quarter of 2023.

• Operating cash flow amounted to SEK 5,063 M (3,732), up 36 percent. This was the highest operating cash flow to date for a full year. The cash conversion ratio was 92 percent (74).

Market outlook for the first quarter of 2024
Demand is expected to be on a par with the fourth quarter of 2023, adjusted for seasonal variations. The geopolitical situation entails a heightened degree of uncertainty. For further information, refer to page 12.

Market outlook from the interim report published on October 26, 2023, relating to the fourth quarter of 2023
Demand is expected to be on a par with the third quarter of 2023, adjusted for seasonal variations. The geopolitical situation entails a heightened degree of uncertainty.

Dividend 2023
The Board of Directors proposes a cash dividend of SEK 6.75 per share (6.00).
 
This is a translation of the company’s Interim Report in Swedish.

Trelleborg AB hereby announces, in accordance with Chapter 4, Section 18 of the Financial Instruments Trading Act (1991:980), that the company on January 30, 2024, acquired 56,307 own shares of series B, entailing that the company’s holding of own shares exceeded the threshold of 5 percent of all shares in the company. At the time of this press release, the company’s total holding of own shares amounted to 12,802,941 shares of series B, corresponding to 5.018 percent of the total number of shares and 2.502 percent of the total number of votes in the company.

The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to April 23, 2024, and thus concludes the day before the 2024 Annual General Meeting, is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The objective of the share buybacks is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The Board of Director’s intent is that the repurchased shares will later be canceled by resolutions at upcoming annual general meetings.

The total number of shares in Trelleborg at the time of this press release amounts to 255,125,919 of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.

During the period January 22 to January 26, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 234,775 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of January 26, 2024, amounts to 12,688,634 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period January 15 to January 19, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 241,839 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of January 19, 2024, amounts to 12,453,859 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

Trelleborg’s new climate targets have been validated by the Science Based Targets initiative (SBTi). Efforts moving forward to reduce the Group’s climate impact are therefore aligned with the Paris Agreement’s goal to limit global warming to 1.5°C.

“We are proud that our climate targets have been validated by SBTi. It is an important milestone that illustrates our ambition to be a sustainability leader in our industry. Our Excellence programs provide us with clear processes and plans to increase the pace of our transition,” says Peter Nilsson, President and CEO of Trelleborg.

Under the new validated climate targets, Trelleborg is committed to halving direct and indirect CO2 emissions (Scope 1 and Scope 2) by 2030 compared with the base year 2021, and, during the same period, reducing emissions along the value chain (Scope 3) by 25 percent.

Trelleborg’s previous target of a 50-percent reduction in direct and indirect carbon emissions relative to sales by 2025, with 2020 as the base year, was achieved already in 2023.

Trelleborg Group’s financial report for the fourth quarter and year-end report of 2023 will be published on Friday, February 2, at about 07:45 am CET.

A webcasted conference call for investors, analysts and media will be held at 10:30 am CET the same day. Trelleborg will be represented by Peter Nilsson, President and CEO, and Fredrik Nilsson, CFO. The presentation will be held in English.

To follow the presentation webcast, either access this link or visit www.trelleborg.com.

To participate via teleconference, please register here. After registration, you will be provided phone numbers and a conference ID to access the call. You can ask questions verbally via the teleconference.

The webcast will be available on Trelleborg’s webpage following the presentation.

The interim report will be published one day later than previously stated. This is due to the board meeting preceding the report being moved forward by one day for practical reasons.

During the period January 8 to January 12, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 238,433 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of January 12, 2024, amounts to 12,212,020 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period January 2 to January 5, 2024, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 184,191 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.

The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.

Shares of series B in Trelleborg have been repurchased (in SEK) as follows:

All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of January 5, 2024, amounts to 11,973,587 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.

A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.

During the period December 27 to December 29, 2023, Trelleborg AB (LEI code 213800XY16PAWG2PAD14) has repurchased in total 142,899 own shares of series B (ISIN: SE0000114837) as part of the buyback program initiated by the Board of Directors in order to adapt the company’s capital structure and thereby contribute to increased shareholder value.
 
The share buybacks form part of the buyback program of a maximum of 24,000,000 shares of series B for a total maximum amount of SEK 5,500 million, which Trelleborg announced on April 27, 2023. The buyback program, which runs between April 28, 2023, to the day prior to the 2024 Annual General Meeting is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The purpose of the Board of Directors’ decision is to adapt the company’s capital structure and thereby contribute to increased shareholder value. The intent is that the repurchased shares later will be canceled by resolution of upcoming Annual General Meetings.
 
Shares of series B in Trelleborg have been repurchased (in SEK) as follows:
 

 
All acquisitions have been carried out on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) (SEB) on behalf of Trelleborg. Following the above acquisitions, Trelleborg’s holding of own shares as of December 29, 2023, amounts to 11,789,396 shares of series B. The total number of shares in Trelleborg on the date of this press release amounts to 255,125,919, of which 28,500,000 are shares of series A and 226,625,919 are shares of series B.
 
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.