SKF Nine-month report 2004 Strong profit and sales development in the third quarter
Resource from: www.skf.com Likes:2972
Oct 27,2004
SKF reports for the third quarter of 2004 a 14.1% increase in sales, measured in local currencies, compared to the same period in 2003. The operating margin for the quarter was 10.6% (8.4). The price/mix increased by 2.3%. Cash flow continued to be strong.
· The SKF Group reports a profit before taxes for the third quarter 2004 of MSEK 1 111 (697), an increase of 59%. The profit for the first nine months of 2004 was MSEK 2 982 (2 314).
· Net profit for the third quarter amounted to MSEK 705 (503). Net profit for the first nine months was MSEK 2 091 (1 634).
· Earnings per share for the third quarter were SEK 6.20 (4.42), and for the first nine months, SEK 18.37 (14.35).
· Net sales for the third quarter amounted to MSEK 11 184 (10 059), and for the first nine months to MSEK 33 290 (31 132).
The operating profit for the third quarter 2004 was MSEK 1 190 (841), and for the first nine months, MSEK 3 259 (2 730). The operating margin for the third quarter of 2004 amounted to 10.6% (8.4), and for the first nine months to 9.8% (8.8). Cash flow, after investments before financing, for the third quarter was MSEK 582 (982), and for the first nine months, MSEK 1 621 (1 539). Cash flow, after investments before financing and acquisitions, was in the third quarter MSEK 1 210 (982).
The increase of 11.2% in net sales for the third quarter, in SEK, was attributable to: volume 9.6%, structure 2.2%, price/mix 2.3% and currency effect -2.9%.
For the first nine months, the increase of 6.9%, in SEK, was attributable to:
volume 7.7%, structure 0.7%, price/mix 1.8% and currency effect -3.3%.
Sales development
Net sales for the SKF Group in the third quarter, calculated in local currencies, were 14.1% above the sales for the third quarter last year. Sales were significantly higher in Europe and higher in North America. Sales were significantly higher in Asia and Latin America.
The manufacturing level for the third quarter 2004 was unchanged compared to the previous quarter, but significantly higher than for the same quarter the previous year.
Outlook for the fourth quarter
The market demand for SKF's products and services is expected to continue to be higher in Europe and North America and significantly higher in Asia and Latin America.
The manufacturing level during the fourth quarter will be unchanged compared to the third quarter, but higher than for the same quarter the previous year.
(www.skf.com)
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
Previous USBD purchased Bearings& Drives Corp
Next Recent U.S. Government Contract Awards for Bearings
Next Recent U.S. Government Contract Awards for Bearings
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
