SKF First-Quarter Sales Down 10.5% - Modern Distribution Management

Log In

SKF First-Quarter Sales Down 10.5%

Sales in all regions except Latin America declined.

Swedish manufacturer SKF reported sales for the first quarter of SEK 15.2 billion (US$2.3 billion), a decline of 10.5 percent. Profit fell to SEK 818 million (US$125.9 million).

Sales in the first quarter in local currencies and excluding structure decreased by 10 percent both in Europe and North America, by 7 percent in Asia and by 6 percent in Middle East and Africa. In Latin America they increased by 8 percent.

“There is continued uncertainty and cautiousness in the market place and this impacted our sales more than expected especially in our industrial businesses and in North America. The acquisition of Blohm + Voss Industries was completed in the first quarter and will strengthen our position in the marine industry … Going forward, it is not easy to give a demand outlook due to all the mixed signals in the economy. However, while demand in the second quarter is expected to be unchanged sequentially and lower year on year I feel that as we go through the quarter we will start to see a slowly improving business," said Tom Johnstone, president and CEO.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.