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October 16, 2007

SKF Sales Up 12.8% in 3Q

SKF reported sales increased 12.8% to SEK14.2 billion (US$2.2 billion) in the third quarter 2007. Sales for the first nine months were up 10.9% to SEK 43.5 billion (US$6.7 billion).
 
Profit was SEK 1.1 billion (US$181 million). For the first nine months, profit reached SEK 3.6 billion (US$566 million).
 
The sales increase for the quarter (in SEK) was attributed to: volume, 9%; structure 3.7%; price/mix, 2%, and currency effects, -1.9%. For the first nine months, the increase was attributed to volume, 7.9%; structure, 4.1%; price/mix, 2.2%; and currency effects, -3.3%.
 
Sales growth was highest in Europe, Asia and Latin America. Sales in North America grew less. The manufacturing level for the quarter remained unchanged but was "significantly higher" compared with the third quarter 2006.
 
Outlook
SKF reports that demand for its products and services in the fourth quarter 2007 is expected to be higher for the Group for all regions but North America. In North America, demand is anticipated to be unchanged.

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