SKF reports significant growth in year-end results for 2004
Elgin, IL -- SKF has reported an increase in sales of 16.4% for the fourth quarter of 2004 and 11.8% for the full y...
Elgin, IL — SKF has reported an increase in sales of 16.4% for the fourth quarter of 2004 and 11.8% for the full year, measured in local currencies and compared to 2003. The operating margin for the company was 10.7% for the fourth quarter and 10% for the full year. Inventories, as a percentage of annual sales, were 20%.
In Europe and North America, sales were significantly higher in the fourth quarter and higher for the full year. In Asia and Latin America, sales were significantly higher for the fourth quarter and the full year.
The manufacturing level for the fourth quarter 2004 was slightly higher compared to the previous quarter, but significantly higher than the same quarter for the previous year.
SKF is a global supplier of products, customer solutions and services in the business of rolling bearings and seals. Headquartered in Gothenburg, Sweden, SKF has technology centres in the Netherlands, Italy and the United States. SKF is a supplier of roller bearings, radial shaft seals, precision-engineered elastomeric products, and related products and services to the automotive, aerospace, heavy-duty/off-highway, marine and other industries.