Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

SKF Nine-month Report 2017


News provided by

SKF

31 Oct, 2017, 12:43 GMT

Share this article

Share toX

Share this article

Share toX

GOTHENBURG, Sweden, Oct. 31, 2017 /PRNewswire/ --

Alrik Danielson, President and CEO:

"The third quarter was characterized by continued organic growth and operating margin improvement.

Net sales, at SEK 18.6 billion, increased organically by 8%. The industrial business grew by 9.5%, with strong growth in all regions. The automotive business grew by 4.9%.

Net debt decreased by SEK 1.3 billion, taking us below our net debt/equity target of 80%.

Our adjusted operating profit was SEK 2.2 billion, up 400 million from last year, giving an adjusted operating margin of 11.9%.

The automotive business has continued to strengthen its adjusted operating margin, which was 7.6%, driven by increased volumes and cost control.

The industrial business delivered a significantly improved adjusted operating margin of 13.8%, driven by higher sales volumes and improved factory utilization rates. 

During the quarter, we have seen the positive effects from the industrial distribution price increases announced in the first half of the year. Where contractual terms allow, we have also increased prices to OEMs.

On 24 October, we announced the latest step in consolidating our manufacturing footprint. We are expanding our existing sealing solution site in Salt Lake City, Utah, while we will close our factory in Seneca, Kansas.

The Gothenburg factory has developed a new line of spherical roller bearings for the wind segment. These bearings are among the first to be tested at the Sven Wingquist Test Centre in Schweinfurt, Germany.

We continue to make good progress in our rotating equipment performance offering. One recent example is the IMx-8 remote condition monitoring solution selected by a Nordic shipping company, supporting its efforts to improve reliability across its fleet of 10 oil and chemicals tankers. This compact system is a plug-and-play solution that is compatible with its existing maintenance system. Sensors detect machine parts and transmit signals online to SKF's certified Remote Diagnostic Center in Hamburg, Germany, where specialists report machinery deviations.

Entering the fourth quarter, we expect to see continued growth in all major regions, as reflected in our market outlook."

Key figures, SEKm

Q3 2017

Q3 2016

Jan-Sep 2017

Jan-Sep 2016

Net sales*

18,627

17,862

58,457

53,857

Adjusted operating profit**

2,211

1,811

7,004

5,803

Adjusted operating margin, %**

11.9

10.1

12.0

10.8

Items affecting comparability**

-246

380

-429

138

Operating profit

1,965

2,191

6,575

5,941

Operating margin, %

10.5

12.2

11.2

11.0

Adjusted profit before taxes**

1,938

1,669

6,303

5,225

Profit before taxes

1,692

2,049

5,874

5,363

Net cash flow after investments before financing

681

1,554

3,049

6,289

* Cash discounts are from January 1, 2017 classified as a reduction of Net sales. Previously published figures have been restated accordingly.

** Please see page 15 of report for definitions 

 

Net sales change y-o-y, %

Organic

Structure

Currency

Total

Q3 2017

8.0

-0.7

-3.0

4.3

Jan-Sep 2017

8.2

-2.0

2.3

8.5


Organic sales change in local currencies, per region y-o-y, %

Europe

North America

Latin America

Asia

Middle East & Africa

Q3 2017

6.3

3.3

14.1

11.8

23.3

Jan-Sep 2017

4.7

8.7

11.9

12.2

15.3


Outlook for the fourth quarter 2017

Demand compared to the fourth quarter 2016

The demand for SKF's products and services is expected to be higher for the Group, including Industrial and Automotive. Demand is expected to be higher in Europe, North America and in Asia and significantly higher in Latin America.

Demand compared to the third quarter 2017

The demand for SKF's products and services is expected to be relatively unchanged for the Group including Industrial and Automotive. Demand is expected to be slightly higher in Europe and relatively unchanged in North America, Asia and in Latin America.

A teleconference will be held on 31 October 2017 at 14:00 (CET):

SE: +46(0)8-5065-3936

UK: +44(0)20-3427-1904

US: +1-212-444-0896

You will find all information regarding the SKF nine-month report 2017 on the IR website.

Aktiebolaget SKF
(publ)

The information in this press release is information which AB SKF is required to disclose under the EU Market Abuse Regulation (EU) No 596/2014. The information was provided by the above contact persons for publication on 31 October 2017 kl. 13.00 CET.

For further information, please contact: 
PRESS:
Theo Kjellberg
Director, Press Relations
Tel: +46-31-337-6576
Mobile: +46-725-776576
E-mail: theo.kjellberg@skf.com

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

This information was brought to you by Cision http://news.cision.com

http://news.cision.com/skf/r/skf-nine-month-report-2017,c2379363

The following files are available for download:

http://mb.cision.com/Main/637/2379363/744420.pdf

Full release as pdf

Modal title

Also from this source

Announcement of change in the total number of votes in AB SKF

Due to a conversion of shares from Series A to Series B in accordance with AB SKF's Articles of Association, the Company confirms the following. As...

SKF inaugurates magnetic bearing factory in Morocco to meet increased demand

SKF has inaugurated its new factory in Tangier, Morocco, which initially will employ around 60 people. The factory will manufacture components for...

More Releases From This Source

Explore

Computer & Electronics

Computer & Electronics

Computer Software

Computer Software

Computer Software

Computer Software

Machinery

Machinery

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.