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AB SKF (SKFRY) is a global leader in industrial technology solutions, specializing in precision bearing systems, lubrication management, and advanced engineering services. This comprehensive news hub provides investors and industry professionals with essential updates on SKF's strategic developments, product innovations, and market positioning.
Access timely press releases covering earnings reports, technology partnerships, and operational updates across key sectors including aerospace, heavy machinery, and sustainable manufacturing solutions. Our curated collection ensures you stay informed about SKF's initiatives in energy-efficient systems, condition monitoring technologies, and strategic portfolio adjustments.
Discover updates on SKF's global manufacturing advancements, customer-focused engineering projects, and industry leadership in bearing reliability solutions. The resource serves as your primary reference for understanding the company's approach to industrial challenges through cutting-edge lubrication technologies and precision component development.
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SKF (SKFRY) reported Q1 2025 results with net sales of MSEK 23,966, showing a -3.5% organic decline due to lower market demand across regions and industries, except for aerospace. The adjusted operating margin improved slightly to 13.5% (from 13.4%), with Industrial at 16.9% and Automotive at 5.2%.
The company maintained margin resilience through pricing actions, portfolio management, and cost control, despite weak demand. Net cash flow from operating activities decreased to MSEK 977 from MSEK 1,781. The separation of the Automotive business continues with 16 factories finalized, though complexity may extend the timeline.
For Q2 2025 outlook, SKF expects continued volatility and weakening organic sales year-over-year, with a negative currency impact of approximately MSEK 400 on operating profit.
SKF (SKFRY) has announced it will release its Q1 2025 financial results on April 25, 2025, at approximately 07:30 CEST. The company will host a webcast in English at 09:00 CEST for investors, analysts, and media.
Participants can join the webcast through the provided link or dial-in numbers for Sweden and UK/International access. All quarterly results information will be available on SKF's investor relations website. Media representatives interested in interviewing CEO Rickard Gustafson after the webcast should contact the press relations team.
SKF (SKFRY) held its Annual General Meeting on April 1, 2025, where shareholders approved key resolutions. The meeting approved a dividend of SEK 7.75 per share, payable to shareholders recorded in the share register by April 3, 2025.
The Board saw the re-election of ten members and the new addition of Mats Rahmström. Hans Stråberg was elected Chair, while Håkan Buskhe and Mats Rahmström were appointed Vice Chairs. The meeting established two committees: Audit and Sustainability, and People Committee.
Shareholders approved new Board compensation structures, including SEK 3,025,000 for the Chair and SEK 1,515,000 for Vice Chairs. The meeting also approved SKF's Performance Share Programme 2025, allowing the allocation of up to 1,000,000 SKF B shares to senior managers based on Total Value Added targets and CDP Climate Change score performance.
AB SKF (SKFRY) has announced changes in its share structure and voting rights as of March 31, 2025. Following a conversion of Series A shares to Series B shares, the company's total share count stands at 455,351,068, comprising 28,930,844 Series A shares and 426,420,224 Series B shares. The total number of votes in the company now amounts to 71,572,866.4.
The company confirmed it holds no treasury shares. This disclosure was made in compliance with the Financial Instruments Trading Act requirements.
SKF (SKFRY) has announced further steps in its planned separation of its Automotive business, which was initially revealed in September 2024. The company is now initiating a consent solicitation to its noteholders regarding the planned spin-off, offering a 0.25% early voting fee for favorable votes before the deadline.
The separation aims to create a separate listing on Nasdaq Stockholm through a Lex Asea distribution to shareholders. SKF emphasizes that this strategic move would enable clearer focus on distinct opportunities, enhance customer value, and accelerate growth. The company maintains that the spin-off is not expected to negatively impact its strategy, operations, or financial conditions, and its financial structure will remain solid.
AB SKF (SKFRY) has announced changes in its total number of votes following a conversion of Series A shares to Series B shares, as per the company's Articles of Association. As of January 31, 2025, the company's share structure consists of:
- 28,938,999 Series A shares
- 426,412,069 Series B shares
- Total shares: 455,351,068
- Total voting rights: 71,580,205.9
The company confirmed it does not hold any treasury shares. This information was disclosed in compliance with the Financial Instruments Trading Act.
AB SKF (SKFRY) has announced changes in its total voting structure following a conversion of Series A shares to Series B shares, as permitted by the company's Articles of Association. As of November 29, 2024, the company's share structure consists of 29,218,846 Series A shares and 426,132,222 Series B shares, totaling 455,351,068 shares. The total number of votes in the company now amounts to 71,832,068.2. The company confirmed it holds no treasury shares.
SKF has confirmed the transition dates for its new Chief Financial Officer. Susanne Larsson will assume the role of CFO and Senior Vice President, Group Finance on February 17, 2025, succeeding Niclas Rosenlew, who will depart on December 31, 2024. During the interim period, Carina van den Berg, currently Director SKF Global Finance Sustainability & Operations, will serve as Acting CFO.
SKF reported Q3 2024 results with net sales of SEK 23,692 million, showing an organic decline of -4.4% due to weak market demand. Despite volume challenges, the company achieved an improved adjusted operating margin of 11.9% (vs 11.5% in Q3 2023) through strong price/mix management and cost control. Net cash flow from operations strengthened to SEK 3,576 million. The company announced plans to separate its Automotive business, targeting completion in H1 2026, and signed a contract to divest its ring and seal operation in Hanover for SEK 2.3 billion. For Q4 and full-year 2024, SKF expects a mid-single-digit organic sales decline.
SKF has signed an agreement to divest its ring and seal operation in Hanover, Pennsylvania to Carco PRP Group's subsidiary PCTI for USD 220 million (approximately SEK 2.3 billion). The facility, which manufactures mechanical seals and rings with annual sales of SEK 700 million, is being sold as part of SKF's strategic review to focus on core aerospace business. SKF will continue to concentrate on aeroengine and aerostructure bearing offers, representing annual sales of SEK 6 billion. The company is also planning to exit its precision elastomeric device operation in Elgin, Illinois. The Hanover divestment is expected to close in Q1 2025, subject to regulatory approval.
