SKF interim report Q3 2024: Solid margin and strong cash flow in weak markets
SKF AB S/ADR (SKFRY)
NASDAQ:AMEX Investor Relations:
skf.com/group/investors/investor-relations
Company Research
Source: PR Newswire
GOTHENBURG, Sweden, Oct. 30, 2024 /PRNewswire/ --Q3 2024Net sales: SEK 23,692 million (25,771)Organic growth: -4.4% (-0.6%), driven by lower market demand across most regions and industries.Adjusted operating profit: SEK 2,821 million (2,956). Continued strong price/mix contribution, driven by pricing actions and active portfolio management, as well as good cost control which largely offset the lower volumes and currency headwind.Adjusted operating margin: 11.9% (11.5%)Net cash flow from operations: SEK 3,576 million (3,435)Rickard Gustafson, President and CEO:"We are pleased to report a continued solid margin development, representing a year-over-year improvement, despite declining volumes in the prevailing weak market environment and significant currency headwinds. We continue our strategic execution creating an even stronger SKF, with the initiated separation of our Automotive business as a key component."Solid margin and strong cash flowThe weak market conditions prevailed globall
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News
- SKF confirms dates for CFO transition [Yahoo! Finance]Yahoo! Finance
- SKF confirms dates for CFO transitionPR Newswire
- SKF confirms dates for CFO transitionPR Newswire
- SKF confirms dates for CFO transitionPR Newswire
- SKF interim report Q3 2024: Solid margin and strong cash flow in weak marketsPR Newswire
SKFRY
Earnings
- 10/30/24 - Beat
SKFRY
Analyst Actions
- 10/15/24 - Citigroup Inc.