SKF Annual Report 2018 published

Gothenburg, 6 March 2019: AB SKF has published its annual report for 2018. The report focuses on SKF’s operations and how the Company strives to create value for shareholders in a responsible manner.

Alrik Danielson, President and CEO, says: “2018 has been an exciting and record year for SKF. We have made significant progress in developing our value propositions around the rotating shaft, as well as continued to invest in modernizing our factories and in R&D. From a financial performance point of view, 2018 has been a record year, with an organic growth rate of 7.1% and an operating margin of 12.9%. We are currently meeting or exceeding four of our five financial targets.

“We have also made good progress towards the Group’s climate-related targets. We have achieved a 24% reduction in the CO2 emissions per tonne of sold bearings compared to the 2015 base year. Our ambition is to reach a 40% reduction by 2025. We have achieved this by increasing the amount of renewable energy we source, as well as through energy efficiency improvements in our factories.”