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 va...
Notice of Annual General Meeting
GOTHENBURG, Sweden, Feb. 20, 2024 /PRNewswire/ -- Notice is hereby given that the Annual General Meeting of Aktiebolaget SKF will be held at Radisson Blu Scandinavia Hotel, Södra Hamngatan 59,Gothenburg, Sweden, at 14.00 on Tuesday, 26 March 2024. The doors are open from 13.00. Light refreshments...
Changes in Group Management to accelerate strategic transformation and profitable growth
GOTHENBURG, Sweden, Feb. 6, 2024 /PRNewswire/ -- As a consequence of SKF accelerating its strategic transformation to drive profitable growth, the leadership in two of the industrial regions, Americas andIndia and Southeast Asia, will change with immediate effect. "In times of transformation, ad...
SKF recognized with 'A' score from CDP for transparency on climate change
GOTHENBURG, Sweden, Feb. 6, 2024 /PRNewswire/ -- SKF has received an 'A', the top Climate Change rating available from CDP, the global non-profit that runs the world's largest climate and environmental disclosure system for companies, cities, states and regions. Based on data reported to CDP, SKF...
SKF Year-end report 2023: Strategy execution yielding strong performance
GÖTEBORG, Sweden, Jan. 31, 2024 /PRNewswire/ -- Q4 2023 Net sales: SEK 24,438 million (25,361) Organic growth: -1.9% (9.7%) Adjusted operating profit/margin:SEK 2,929 million, 12.0% (2,542, 10.0%) Full year 2023 Net sales: SEK 103,881 million (96,933) Organic growth: 3.7% (8.1%) Adjusted opera...
SKF secures 100% renewable electricity in the U.S. and Canada
GOTHENBURG, Sweden, Jan. 30, 2024 /PRNewswire/ -- SKF has reached a significant sustainability milestone by entering two Renewable Energy Certificate (REC) purchase agreements inNorth America. This will enable SKF factories and facilities in the U.S. andCanada to achieve 100% renewable electricit...
Nomination Committee's proposal for Board of Directors of AB SKF
GOTHENBURG, Sweden, Jan. 23, 2024 /PRNewswire/ -- SKF's Nomination Committee proposes re-election of the board members Hans Stråberg, Hock Goh,Geert Follens , Håkan Buskhe,Susanna Schneeberger, Rickard Gustafson, Beth Ferreira, Therese Friberg, Richard Nilsson and Niko Pakalén. Hans Stråberg is p...
SKF Awarded EcoVadis Platinum Rating for fourth year running
GOTHENBURG, Sweden, Jan. 22, 2024 /PRNewswire/ -- SKF has been awarded a Platinum Medal by EcoVadis, one of the most trusted providers of sustainability ratings for use in supply chains. This prestigious recognition places SKF in the top 1% among the more than 100,000 companies assessed worldwide...
SKF to publish full-year results on 31 January
GOTHENBURG, Sweden, Jan. 17, 2024 /PRNewswire/ -- SKF will publish its full-year results for 2023 on31 January 2024 at approximately 07:00 (CET). Investors, analysts and media are invited to join a webcast, which will be held in English, at 08:00 (CET). To join the webcast, please login at lea...
Announcement of change in the total number of votes in AB SKF
GOTHENBURG, Sweden, Dec. 29, 2023 /PRNewswire/ -- 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 per 29 December 2023, the Company's share capital amounts to SEK 1,138,377,670 and the total numbe...
SKF increases localization rate in the Americas and Asia; closes factory in Busan, Korea
GOTHENBURG, Sweden, Dec. 1, 2023 /PRNewswire/ -- SKF today announces a transfer of the supply of products from the factory inBusan, Korea, to China, India and Mexico. This is another step in the continuous execution of the Group's strategy, where regionalization is an important part. Consequently...
Announcement of change in the total number of votes in AB SKF
GOTHENBURG, Sweden, Nov. 30, 2023 /PRNewswire/ -- Due to conversions of shares from Series A to Series B in accordance with AB SKF's Articles of Association, the Company confirms the following. As per 30 November 2023, the Company's share capital amounts to SEK 1,138,377,670 and the total number...
SKF strengthens magnetic bearings offer by acquiring fibre composite company
GOTHENBURG, Sweden, Nov. 8, 2023 /PRNewswire/ -- SKF has signed an agreement to acquire 2C Composites, a German high-performance fibre composite supplier. Through the acquisition, SKF will secure the supply of a leading and unique technology of composite layers which will strengthen the Group's m...
SKF Nine-month report 2023: Resilient margins and strong cash flow despite slowdown in demand
GOTHENBURG, Sweden, Oct. 27, 2023 /PRNewswire/ -- Rickard Gustafson, President and CEO: "During the quarter we continued to see a slowdown in demand from a weakening economic sentiment and customers reducing their inventories. Despite this, our profitability was resilient, and our cash flow rem...
SKF concludes strategic review of Aerospace business; strengthens its core business
GOTHENBURG, Sweden, Oct. 27, 2023 /PRNewswire/ -- Following the completion of a strategic review of its Aerospace business, SKF is further strengthening and investing in its Aerospace core areas, but also exploring strategic options to fully or partially exit business lines that are non-core. SK...
SKF confirms closure of Luton factory
GOTHENBURG, Sweden, Oct. 17, 2023 /PRNewswire/ -- Following a consultation process with employees and union representatives, SKF confirms the proposed closure of its factory inLuton, UK. The proposal was made in May 2023 as part of a consolidation of the Group's spherical roller bearing manufactu...
SKF to publish nine-months results on 27 October
GOTHENBURG, Sweden, Oct. 11, 2023 /PRNewswire/ -- SKF will publish its nine-months results for 2023 on27 October 2023 at approximately 07:00 (CET). Investors, analysts and media are invited to join a webcast, which will be held in English, at 08:15 (CET). To join the webcast, please login at lea...
SKF inaugurates factory in Monterrey, Mexico
GOTHENBURG, Sweden, Oct. 4, 2023 /PRNewswire/ -- SKF has inaugurated its new facility inMonterrey, Mexico, a greenfield factory investment totaling SEK 700 million. This will support SKF's strategic development in the Americas and meet customer needs as focus on electrification increases. The inv...
Announcement of change in the total number of votes in AB SKF
GOTHENBURG, Sweden., Sept. 29, 2023 /PRNewswire/ -- 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 per 29 September 2023, the Company's share capital amounts to SEK 1,138,377,670 and the total nu...
Nomination Committee of AB SKF for the Annual General Meeting 2024
GOTHENBURG, Sweden, Sept. 8, 2023 /PRNewswire/ -- In accordance with a resolution taken at the Annual General Meeting of AB SKF, this is to announce the members elected by the four largest shareholders by number of votes per31 August 2023, who, together with the Chair of the Board constitute the ...
