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 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 ...
SKF appoints Sophie Arnius as Head of Investor Relations
GOTHENBURG, Sweden, Aug. 31, 2023 /PRNewswire/ -- Sophie Arnius has been appointed Head of Investor Relations, starting latest24 February 2024. Sophie joins SKF from Electrolux and she succeedsPatrik Stenberg who will continue in his role as Director, Mergers & Acquisitions. Sophie Arnius has ex...
SKF signs Virtual Power Purchase Agreement (VPPA) to support renewable energy in Europe
GOTHENBURG, Sweden, June 22, 2023 /PRNewswire/ -- SKF has signed a Virtual Power Purchase Agreement (VPPA) in the next step towards its target of 100% renewable electricity by 2030. Under the long-term agreement with the global energy company Enel, SKF will purchase guarantees of origin for a per...
SKF announces electric aviation agreement with Lilium
SKF leads the way in bearing provision for the electric aircraft market GOTHENBURG, Sweden, June 21, 2023 /PRNewswire/ -- SKF is today announcing that a supplier agreement has been signed with Lilium, developer of the first all-electric vertical take-off and landing (eVTOL) jet. SKF has supported...
SKF to phase out its own fossil gas use with a SEK 3 billion decarbonization investment frame
GOTHENBURG, Sweden, June 9, 2023 /PRNewswire/ -- SKF has decided to allocate SEK 3 billion to meet its energy and decarbonization goal by 2030, which is a key element of the Group's strategy. The Group has also decided to ban any fossil fuel investments in its own operations, as well as to replac...
SKF establishes global Product Category Rules for bearings to quantify environmental impact
GOTHENBURG, Sweden, June 1, 2023 /PRNewswire/ -- Product Category Rules (PCR) for the bearing industry, initiated and driven by SKF, have been approved by The International EPD System. This will enable bearing purchasers to make more informed and sustainable choices, while also promoting greater ...
SKF consolidates manufacturing in Europe, proposes to close factory in Luton
GOTHENBURG, Sweden, June 1, 2023 /PRNewswire/ -- SKF today announces a consolidation of its spherical roller bearing manufacturing to secure the long-term competitiveness on the European markets. The consolidation is also in line with the Group's strategy to invest in automation and regionalizati...
SKF announces changes to Group Management to further strengthen its commercial focus
Three new appointments are made in SKF Group Management aiming to further strengthen its commercial focus in the company's journey towards increased profitable growth. A new position is also created to drive strategic sales and portfolio management. GOTHENBURG, Sweden, May 25, 2023 /PRNewswire/ ...
SKF invests in magnetic bearing manufacturing to meet increasing demand
GOTHENBURG, Sweden, May 22, 2023 /PRNewswire/ -- SKF is increasing its technical and manufacturing capabilities within magnetic bearings through an investment totalingSEK 50 million in a new manufacturing site in Tangier, Morocco. The new site will ramp up operations during the second quarter an...
SKF and Wolong cooperate to increase competitiveness in electric drive products
GOTHENBURG, Sweden, May 17, 2023 /PRNewswire/ -- SKF and Wolong Group, the Chinese global manufacturer of motor and drive solutions, have signed a memorandum of understanding to explore the possibilities of entering a strategic cooperation focused on the promotion and application of magnetic bea...
SKF first quarter results to be published on 27 April
GOTHENBURG, Sweden, April 14, 2023 /PRNewswire/ -- SKF will publish its first quarter results for 2023 on27 April 2023 at approximately 08:00 (CEST). Investors, analysts and media are invited to join a webcast, which will be held in English, at 09:00 (CEST). To join the webcast, please login at ...
SKF extends involvement in Gothia Cup, which this year attracts a record number of teams
SKF extends its involvement in the Gothia Cup by continuing as main partner for another three years. This year, there is a record interest in the world's largest youth tournament with more than 1,700 teams registered from over 60 countries GOTHENBURG, Sweden, April 12, 2023 /PRNewswire/ -- After...
Annual General Meeting of AB SKF
GOTHENBURG, Sweden, March 23, 2023 /PRNewswire/ -- The Annual General Meeting of Aktiebolaget SKF, parent company of the SKF Group, was held on Thursday, 23 March 2023. The income statements and the balance sheets were adopted, together with the Board's proposal for distribution of dividend. A ...
SKF Annual Report 2022 published online; major milestone reached for own renewable energy use
In 2022, for the first time more than half of all electricity used by SKF was renewable, which is a major milestone in the Group's Net Zero journey. This contributed to keeping SKF well on course for its climate targets as explained in the AB SKF's Annual Report, which now has been published onli...
Notice of Annual General Meeting
GOTHENBURG, Sweden, Feb. 14, 2023 /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 Thursday, 23 March 2023. The doors are open from 13.00. Light refreshment...
Nomination Committee's proposal for Board of Directors of AB SKF
GOTHENBURG, Sweden, Feb. 10, 2023 /PRNewswire/ -- SKF's Nomination Committee proposesBeth Ferreira, Therese Friberg, Richard Nilsson and Niko Pakalén as new Board members of AB SKF. Beth Ferreira is Divisional Managing Director, Precision Engineering at IMI plc. She has previously held several s...
SKF Year-end report 2022: Strong organic sales and cash flow development
GOTHENBURG, Sweden, Feb. 2, 2023 /PRNewswire/ -- Q4 2022 Net sales: SEK 25,361 million (20,986) Organic growth: 9.7% (3.8%) Adjusted operating profit/margin:SEK 2,542 million, 10.0% (2,260, 10.8%) Full year 2022 Net sales: SEK 96,933 million (81,732) Organic growth: 8.1% (12.6%) Adjusted oper...
