Brief: SKF Says Weak Market Conditions Prevailed Globally During Q3

SKF AB

30/10/2024 06:09

Oct 30 (Reuters) - SKF AB  SKFb.ST :
    * SKF INTERIM REPORT Q3 2024: SOLID MARGIN AND STRONG CASH
FLOW IN
WEAK MARKETS
    * WEAK MARKET CONDITIONS PREVAILED GLOBALLY DURING Q3
    * CONTINUE TO WORK HARD ON COST OUT ACTIVITIES TO MITIGATE
POTENTIAL SHORT-TERM IMPACT ON OUR COST EFFICIENCY FROM CURRENT
LOWER VOLUME ENVIRONMENT.
    * EXPECT TO SEE CONTINUED MARKET AND GEOPOLITICAL
VOLATILITY, AND
BUSINESS IS PREPARED TO TACKLE DIFFERENT SCENARIOS.
    * FOR Q4 OF 2024, WE EXPECT A MID-SINGLE-DIGIT ORGANIC SALES
DECLINE, YEAR-OVER-YEAR.
    * FOR FULL YEAR, WE EXPECT A MID-SINGLE-DIGIT ORGANIC SALES
DECLINE, COMPARED TO 2023."
    * CURRENCY IMPACT ON OPERATING PROFIT IS EXPECTED TO BE
AROUND SEK
250 MILLION NEGATIVE COMPARED WITH Q4 2023
    * GUIDANCE FY 2024 * TAX LEVEL EXCLUDING EFFECTS RELATED TO
DIVESTED BUSINESSES: AROUND 26%
    * GUIDANCE FY 2024: ADDITIONS TO PROPERTY, PLANT AND
EQUIPMENT:
AROUND SEK 5 BILLION.

Source text:  ID:nWkr8zsqwb 
Further company coverage:  SKFb.ST 

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