SKF Sales Spike 24.9% in 2Q - Modern Distribution Management

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SKF Sales Spike 24.9% in 2Q

Bearing manufacturer SKF also sees sales improve 10.7% in first six months of 2021 as the company rebounds from a COVID-driven slowdown.

Bearing manufacturer SKF (STO: SKFA) Goteborg, Sweden, reported sales for the second quarter of SEK 20.7 billion (US$2.4 billion), up 24.9% over the same period a year ago. Sales in EMEA grew 40%, sales in North America grew 27% and sales in APAC grew 19% compared to last year. Operating profit increased grew more than three times to SEK 2.9 billion million (US$330 million).

Year to date, sales were SEK 40.6 billion (US$4.7 billion), up 10.7% over the prior-year period. Operating profit for the first six months nearly doubled to SEK 5.6 billion (US$640 million).

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