SKF posts sales and profit increase in 2005 nine-month report
Gothenburg, Sweden -- SKF reported an increase in sales, measured in local currencies (excluding structural changes...
Gothenburg, Sweden — SKF reported an increase in sales, measured in local currencies (excluding structural changes) of 7.2% for the third quarter 2005, compared to last year. In the third quarter, profit before taxes increased by 27% and the operating margin was 12.1%. (* Structural changes are defined as acquired and sold companies and businesses.)
Sales for the SKF Group in the third quarter, calculated in local currencies and compared to sales (excluding Ovako Steel) in the same quarter last year, were higher in Europe, significantly higher in North America and Asia and higher in Latin America.
The manufacturing level for the third quarter 2005 was unchanged compared to the second quarter, but higher than for the third quarter last year.
OUTLOOK FOR THE FOURTH QUARTER 2005
The market demand for SKF’s products and services in the fourth quarter, compared to the previous quarter, is expected to remain on a high level in Europe, to be slightly higher in North America, significantly higher in Asia and to remain on a high level in Latin America. This is in addition to normal seasonality.
The manufacturing level will be unchanged during the fourth quarter, compared to the third quarter, while higher in absolute terms due to normal seasonality.
SKF is a global supplier of bearing and elastomeric products, solutions and related services, as well as linear motion and lubrication technologies.