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SKF AB is a leading global supplier of quality bearings, seals, lubrication systems, mechatronics, and services, encompassing everything from commuter vehicles to wind turbines. Their latest achievement in sustainable energy includes two Renewable Energy Certificate purchase agreements in North America. By investing in wind and solar energy, SKF is committed to reducing carbon emissions and supporting renewable energy projects. With ambitious sustainability targets aiming for decarbonization by 2030 and net zero status by 2050, SKF continues to lead the industry towards a cleaner, greener future.
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AB SKF (SKF) confirms that as of November 30, 2023, the Company's share capital amounts to SEK 1,138,377,670, with a total of 29,316,933 shares of Series A and 426,034,135 shares of Series B. The number of votes in the Company amounts to 71,920,346.5. AB SKF does not hold any own shares.
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SKF: Acquires 2C Composites, a German high-performance fibre composite supplier, to strengthen magnetic bearings offer. The acquisition secures a leading technology of composite layers, enhancing the Group's magnetic bearings business. In 2022, SKF secured a record order intake for magnetic bearings products of over SEK 1 billion.
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SKF reports resilient margins and strong cash flow despite a slowdown in demand. Net sales increased to SEK 25.8 billion with organic growth being relatively flat. Adjusted operating profit was SEK 2.9 billion with a margin of 11.5%. The Aerospace business will focus on core segments and explore options to exit non-core business lines. Outlook for Q4 2023 expects a low single-digit organic sales decline.
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SKF inaugurates factory in Monterrey, Mexico, with a SEK 700 million investment. The facility will develop and manufacture deep-groove ball bearings and tapered roller bearings for North American car manufacturers and industrial customers. The factory is expected to generate 1,200 jobs.
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AB SKF confirms conversion of shares from Series A to Series B, resulting in a share capital of SEK 1,138,377,670 and a total of 29,376,933 shares of Series A and 425,974,135 shares of Series B. The number of votes in the Company is 71,974,346.5. AB SKF does not hold any own shares.
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AB SKF announces the members of the Nomination Committee for the Annual General Meeting 2024.
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Sophie Arnius appointed as Head of Investor Relations at SKF
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FAQ
What is the current stock price of AB SKF (SKFRY)?
The current stock price of AB SKF (SKFRY) is $21.985 as of March 3, 2025.
What is the market cap of AB SKF (SKFRY)?
The market cap of AB SKF (SKFRY) is approximately 9.2B.
What is SKF AB known for?
SKF AB is a global supplier of bearings, seals, lubrication systems, and mechatronics, serving various industries from automotive to renewable energy.
What recent achievement has SKF AB made in sustainability?
SKF AB has entered two Renewable Energy Certificate purchase agreements in North America, investing in wind and solar energy to achieve 100% renewable electricity for their U.S. and Canada facilities.
What are SKF AB's sustainability targets?
SKF AB aims to decarbonize their operations by 2030 and achieve net zero status throughout the value chain by 2050.
How does SKF AB support renewable energy?
SKF AB supports renewable energy projects by investing in Green-e certified wind energy and long-term solar farm projects, aligning with their commitment to reducing carbon emissions.
Who is the President of Industrial Region Americas at SKF AB?
John Schmidt was the President of Industrial Region Americas at SKF AB, contributing significantly to the company until his recent departure from SKF.
What innovative solutions will SKF AB showcase at the SKF Tech & Innovation Summit?
SKF AB will showcase innovative solutions such as the SKF Extreme Super Precision Bearing platform, condition monitoring systems, lubrication systems, sealing solutions, and more at the upcoming SKF Tech & Innovation Summit.
When is the SKF Tech & Innovation Summit scheduled to take place?
The SKF Tech & Innovation Summit will be held online on June 19, 2024, from 13:00 to 14:00 (CEST), where SKF AB will present their latest technological innovations and solutions.
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