SKF Annual Report 2023 published online; on track to deliver on 2030 sustainability target

GOTHENBURG, Sweden, March 4, 2024 /PRNewswire/ -- AB SKF's Annual Report 2023 has today been published on the Group's website. The Report highlights SKF's strategic transformation journey and financial performance, as well as how the Group's business model and strategy are designed to maximize value creation for customers, shareholders, and other stakeholders.

"In 2023, we continued to rapidly and diligently execute on our strategy to further strengthen us as a company, contributing to a strong financial performance in a turbulent macro environment. The achievements being made are primarily thanks to the hard work and dedication throughout the year from all our employees," says Rickard Gustafson, President and CEO.

Sustainability is integrated in the Annual Report which also includes SKF's Sustainability report, prepared in accordance with the GRI Standards 2021. In 2023, SKF reported a reduction in scope 1 and 2 emissions of 41% vs. 2019 base year which is in line with the 2030 goal trajectory.

With around 20% of all energy produced being used to overcome friction, the Annual Report explains how SKF works to reduce this waste by helping make industries more energy efficient and sustainable. The Report also describes SKF's role in sectors sustaining human needs such as food, water, energy, and mobility.

"Together with our customers and other partners, we want to contribute to a positive development for people in the societies that we operate in and for the planet. In 2023, we launched several ambitious initiatives and I'm pleased to report that we are on track to deliver on our 2030 sustainability target," says Rickard Gustafson.

The SKF Annual Report is available for download on https://investors.skf.com.

Aktiebolaget SKF
      (publ)

AB SKF is obliged to make this Annual Report public pursuant to the Securities Markets Act. The report was submitted for publication through the agency of the contact person set out below on 4 March 2024 at 13.00 CET.

For further information, please contact:
PRESS: Carl Bjernstam, Head of Media Relations
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: carl.bjernstam@skf.com 

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
tel: 46 31-337 2104; mobile: 46 705-472 104; patrik.stenberg@skf.com 

The following files are available for download: