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The eBearing News
October 19, 2000
SKF Reports Robust Third Quarter
2000 Results
copyright © 2000 eBearing Inc.
SKF AB (Sweden) reported sales, profit and margin improvements across the board
in its operating results for 3Q2000. Nine-month profits doubled from MSEK 1.076 to MSEK 2.241,
while profits for 3Q2000 were MSEK 732, up 125% from 3Q1999.
Net sales were up 12.1% for the quarter, to MSEK 9.495 and up 7.3% for the first nine months
to MSEK 29.389. SKF indicated that the 7.3% improvement for the first nine months was due to
sales volume increases at 5.6%, currency effect .8%, better pricing 1.5% and sales mix -.6%.
Net profit for 3Q2000 was MSEK 506, vs. MSEK 458 for 3Q1999. Operating margin for 3Q2000 was
9.4% vs. 7.9% in 3Q1999, or MSEK 891 vs. MSEK 666. The company achieves just over 4 turns on
its inventory; 12-month ROC was 15.8% and 12-month ROE was 15.7%.
Industrial Division sales were up 4.6% as strong European sales offset a weakening North
American market.
Automotive Division sales were up 3.9%, to MSEK 7.370 reflecting an operating margin of 4.2%.
Again, European truck unit sales continued at a record pace while European and North American
automotive sales declined in the quarter. North American heavy truck sales also declined.
Electrical Division, Service Division, Seals Division and Steel Division sales and income
improved across the board.
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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