Kvartalsrapport Q1 2025

Automatiskt nyckeltalsindex

Detta är sökträffar och textkontext, inte verifierade eller normaliserade redovisningsvärden.

Fulltext

===== SIDA 1 =====

Financial overview
MSEK unless otherwise stated Q1 2025 Q1 2024
Net sales 23,966 24,699
Organic growth, % −3.5 −7.0
Adjusted operating profit 3,233 3,303
Adjusted operating margin, % 13.5 13.4
Operating profit 2,885 2,993
Operating margin, % 12.0 12.1
Adjusted net profit 2,296 2,312
Net profit 1,948 2,002
Net cash flow from operating activities 977 1,781
Basic earnings per share 3.95 4.15
Adjusted earnings per share 4.71 4.83
Strong margin in turbulent markets
 Q1
2025
• Net sales MSEK 23,966 (24,699) 
• Organic growth −3.5% (−7.0%), driven by lower market 
demand across regions and industries, except for 
 aerospace showing continuous growth.
• Adjusted operating profit  MSEK 3,233 (3,303). Continued 
strong price/mix contribution, driven by pricing actions and 
active portfolio management, as well as good cost control 
which largely offset the lower volumes.
/zero.tf
/five.tf
/one.tf/zero.tf
/one.tf/five.tf
/zero.tf
/one.tf/zero.tf
/two.tf/zero.tf
/three.tf/zero.tf
/four.tf/zero.tf
-/one.tf/two.tf
-/six.tf
/zero.tf
/six.tf
/one.tf/two.tf
/zero.tf
/one.tf/zero.tf/zero.tf
/two.tf/zero.tf/zero.tf
/three.tf/zero.tf/zero.tf
/four.tf/zero.tf/zero.tf
/five.tf/zero.tf/zero.tf
242322212019
/zero.tf
/five.tf
/one.tf/zero.tf
/one.tf/five.tf
/two.tf/zero.tf
 Thousand ton CO /two.tfe
Revenue growth
Adjusted ROCE 
Net debt/equity excl. Pension liabilites
Adjusted operating margin
Decarbonized operations 4) 
(scope 1 and 2)
-- Target
     2030 –95%
Long-term targets
/zero.tf
/five.tf
/one.tf/zero.tf
/one.tf/five.tf
/zero.tf
/one.tf/zero.tf
/two.tf/zero.tf
/three.tf/zero.tf
/four.tf/zero.tf
-/one.tf/two.tf
-/six.tf
/zero.tf
/six.tf
/one.tf/two.tf
/zero.tf
/one.tf/zero.tf/zero.tf
/two.tf/zero.tf/zero.tf
/three.tf/zero.tf/zero.tf
/four.tf/zero.tf/zero.tf
/five.tf/zero.tf/zero.tf
242322212019
/zero.tf
/five.tf
/one.tf/zero.tf
/one.tf/five.tf
/two.tf/zero.tf
 Thousand ton CO /two.tfe
Revenue growth
Adjusted ROCE 
Net debt/equity excl. Pension liabilites
Adjusted operating margin
-- Target2)
14%
Adjusted operating margin
Q1
2023
Q1
2025
Q1
2024/zero.tf
/five.tf
/one.tf/zero.tf
/one.tf/five.tf
/zero.tf
/one.tf/zero.tf
/two.tf/zero.tf
/three.tf/zero.tf
/four.tf/zero.tf
-/one.tf/two.tf
-/six.tf
/zero.tf
/six.tf
/one.tf/two.tf
/zero.tf
/one.tf/zero.tf/zero.tf
/two.tf/zero.tf/zero.tf
/three.tf/zero.tf/zero.tf
/four.tf/zero.tf/zero.tf
/five.tf/zero.tf/zero.tf
242322212019
/zero.tf
/five.tf
/one.tf/zero.tf
/one.tf/five.tf
/two.tf/zero.tf
 Thousand ton CO /two.tfe
Revenue growth
Adjusted ROCE 
Net debt/equity excl. Pension liabilites
Adjusted operating margin
-- Target2)
<40%
Net debt/Equity 3)
Q1
2023
Q1
2025
Q1
2024
/zero.tf
/five.tf
/one.tf/zero.tf
/one.tf/five.tf
/zero.tf
/one.tf/zero.tf
/two.tf/zero.tf
/three.tf/zero.tf
/four.tf/zero.tf
-/one.tf/two.tf
-/six.tf
/zero.tf
/six.tf
/one.tf/two.tf
/zero.tf
/one.tf/zero.tf/zero.tf
/two.tf/zero.tf/zero.tf
/three.tf/zero.tf/zero.tf
/four.tf/zero.tf/zero.tf
/five.tf/zero.tf/zero.tf
242322212019
/zero.tf
/five.tf
/one.tf/zero.tf
/one.tf/five.tf
/two.tf/zero.tf
 Thousand ton CO /two.tfe
Revenue growth
Adjusted ROCE 
Net debt/equity excl. Pension liabilites
Adjusted operating margin
-- Target2)
5%
Revenue growth 1)
Q1
2023
Q1
2025
Q1
2024
/zero.tf
/five.tf
/one.tf/zero.tf
/one.tf/five.tf
/zero.tf
/one.tf/zero.tf
/two.tf/zero.tf
/three.tf/zero.tf
/four.tf/zero.tf
-/one.tf/two.tf
-/six.tf
/zero.tf
/six.tf
/one.tf/two.tf
/zero.tf
/one.tf/zero.tf/zero.tf
/two.tf/zero.tf/zero.tf
/three.tf/zero.tf/zero.tf
/four.tf/zero.tf/zero.tf
/five.tf/zero.tf/zero.tf
242322212019
/zero.tf
/five.tf
/one.tf/zero.tf
/one.tf/five.tf
/two.tf/zero.tf
 Thousand ton CO /two.tfe
Revenue growth
Adjusted ROCE 
Net debt/equity excl. Pension liabilites
Adjusted operating margin
-- Target2)
16%
Adjusted ROCE
Q1
2023
Q1
2025
Q1
2024
• Adjusted operating margin  13.5% (13.4%) with Industrial at 
16.9%  (16.4%) and Automotive at 5.2%  (6.0%).
• Operating profit  MSEK 2,885 (2,993), included items  affecting 
comparability of MSEK −348 (−310).
• Operating margin  12.0% (12.1%)
• Net cash flow from operating activities  MSEK 977 (1,781)
• Basic earnings per share  MSEK 3.95 (4.15) 
1) Sales excluding effects of currency and divested businesses. 
2) Financial targets to be achieved over a business cycle.   
3) Excluding pension liabilities. 
4) CO2e emissions 2030 vs 2019. Latest figures are presented for the end  
of the previous quarter, 12 months rolling.
1 SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 2 =====

In a volatile environment, I’m pleased that  
we maintained our resilient performance and 
improved our adjusted operating margin year-
over-year. We continue to execute our strategy 
including the creation of two independent  
and fit for purpose businesses and thereby 
 creating strong foundations for the future.
Margin resilience despite continued weak demand 
In the first quarter we saw continued weak demand resulting  
in an organic sales decline of –3.5% compared to last year.  
The lower volumes were partly offset by a solid price/mix. 
Demand in Europe remained weak. However, we view the 
announced state-backed investments aimed at increasing 
European competitiveness as positive long term. China and 
Northeast Asia posted positive organic growth for the first time 
in seven quarters, primarily driven by favorable comparable  
figures. Both Americas and India and Southeast Asia shifted 
from organic growth in Q4 to a decline in Q1. This was mainly 
due to the positive timing effects at the end of 2024 as previ -
ously communicated and a weaker automotive demand. 
The adjusted operating margin was strong at 13.5%, a slight 
year-over-year improvement despite a weak market environ -
ment. The margin resilience was supported by an effective  
execution of pricing, portfolio management, and cost reduction 
initiatives. However, these initiatives did not fully offset the 
negative impact from lower volumes. Currency effects had  
a  positive impact on the margin, mainly driven by a stronger  
USD year-over-year. 
The adjusted operating margin for our Industrial business 
increased to 16.9%, driven by good portfolio and cost manage -
ment execution. The Automotive business performed relatively 
well, considering the challenging market conditions, with an 
adjusted operating margin of 5.2%. We see potential in further 
improving the margin, but given the current turbulent environ -
ment, the timeline of achieving the targeted 8% adjusted 
 operating margin level will extend beyond 2025.  
CEO Statement
Cash flow was not satisfactory at close to BSEK 1, mainly 
driven by increased working capital, including high accounts 
receivables generated by a strong quarter end, and negative 
currency effects.  
Creating two fit for purpose businesses  
The separation of the Automotive business continues at high 
pace, where the operating model and organizational design 
now have been concluded. Automotive’s global manufacturing 
footprint has also been finalized with 16 factories. The overall 
separation process progresses according to plan, but the 
 complexity of the separation, including the IT structure, may 
stretch the overall time plan. 
“
 Continued rightsizing to 
create strong foundations 
for the future.
The initiated organizational review is progressing well, right-
sizing both organizations to create strong foundations for the 
future and to withstand turbulent markets. More focused 
 businesses with less complexity allow for leaner organizational 
structures resulting in sizeable reductions in staff positions, not 
least within Europe. The number of positions affected, savings 
and restructuring charge will be presented in conjunction with 
the Q2 2025 report.
Outlook
Lately, the business environment has experienced significant 
volatility driven by increased geopolitical uncertainty including 
trade and tariff turmoil. We are preparing the business for  
different scenarios and remain confident that our strategy, in 
combination with our decentralized organization and effective 
cost management, will provide us with the agility and flexibility 
to navigate through these turbulent times. So far, we have 
largely compensated for increased tariff costs through price 
adjustments and we expect to continue to do so also in  
the second quarter, given current tariff levels. However,  
today’s market uncertainty may  influence demand and the 
 prerequisites for certain products and markets.  
We expect continued volatility and, even if we have seen 
signs of markets bottoming out, we plan for another quarter 
with negative volumes and expect organic sales to weaken 
somewhat in Q2, year-over-year. 
Rickard Gustafson
President and CEO
2 SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 3 =====

SKF Group
Net sales
Net sales amounted to MSEK 23,966 (24,699) and decreased 
by –3.0% compared to last year. Organic sales declined by 
–3.5% (–7.0%), driven by lower market demand across indus- 
tries, except for aerospace showing continuous growth. The 
lower sales volumes were partly offset by positive price/mix 
due to continued active pricing and portfolio management. 
Regionally, China and Northeast Asia had a positive organic 
growth, while Europe, Middle East and Africa, the Americas  
and India and Southeast Asia showed declining organic sales. 
Acquired net growth was 0.5%, relating to the John Sample 
Group acquisition.
0
1,000
2,000
3,000
4,000
Q1 25Q4 24Q3 24Q2 24Q1 24Q4 23Q3 23Q2 23Q1 23
0
2
4
6
8
10
12
14
MSEK %
Adjusted operating profit, MSEK
Adjusted operating margin 12 months rolling, %
0
10,000
20,000
30,000
40,000
Q1 25Q4 24Q3 24Q2 24Q1 24Q4 23Q3 23Q2 23Q1 23
-10
-5
0
5
10
15
MSEK
Net sales, MSEK
%
Organic growth, %
Operating profit
Operating profit for the first quarter was MSEK 2,885 (2,993). 
Operating profit included items affecting comparability of  
MSEK –348 (–310), whereof MSEK –380 (–214) related to both 
ongoing restructuring and cost reduction activities, mainly  
in Europe, as well as expenses related to the separation of  
the Automotive business, while MSEK –192 (–96) related to 
impairment of fixed assets and MSEK 224 (0) related to profit 
from sale of the manufacturing site in Luton, UK. 
 The adjusted operating profit for the first quarter was  
MSEK 3,233 (3,303). The adjusted operating profit was positively 
impacted by price and mix as well as currency effects. Adjusted 
operating profit was negatively impacted by lower sales and 
manufacturing volumes, which also resulted in cost inefficien -
cies. Cost reduction activities more than offset wage inflation 
and volume related cost inefficiencies, which together with flat 
to slightly negative development for the other cost items, led  
to relatively stable cost levels year-over-year.
Adjusted operating profit and  
Adjusted operating margin
Net sales and Organic growth
Sales and Adjusted operating profit bridge 1)
MSEK Q1 2024
Organic sales and 
manufacturing 
volumes Cost development Currency impact Structure 2) Q1 2025
Net sales 24,699 −853 6 114 23,966
Growth, % −3.5 0.0 0.5 –3.0
Adjusted operating profit 3,303 −139 −30 90 9 3,233
Adjusted operating margin, % 13.4 13.5
Accretion/dilution, pp −0.1 −0.1 0.4 0.0
1) Numbers are rounded.
2) Including acquisitions and divestments of businesses.
Organic sales by region
In local currencies, change year-over-year, % Q1 2025
Europe, Middle East and Africa −7.0
The Americas −0.9
China and Northeast Asia 2.0
India and Southeast Asia −4.0
3 SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 4 =====

SKF Group cont.
Financial net and tax
Financial income and expenses, net was MSEK –290 (–271). 
Taxes in the quarter were MSEK –647 (–720) resulting in an 
effective tax rate of 24.9% (26.4%). 
Net profit for the period
Net profit for the quarter amounted to MSEK 1,948 (2,002),  
corresponding to SEK 3.95 (4.15) in earnings per share. 
Cash flow
Net cash flow from operating activities in the first quarter  
was MSEK 977 (1,781). Changes in net working capital impacted 
negatively in the quarter with MSEK –1,829 (–1,581), mainly 
driven by inventories as well as higher accounts receivable due 
to seasonality. Non-cash and other items impacted negatively 
in the quarter due to the impact from currency effects.
Net capital expenditure amounted to MSEK –917 (–997). Invest-
ing activities also included sale of fixed assets of MSEK 314 
where the majority is related to the sale of the site in Luton, UK.
Financial position
Net working capital in percentage of 12 months rolling sales 
was 30.4% in March 2025 compared to 30.9% in March 2024. 
This, as accounts receivables as a percentage of sales, 
decreased from last year, driven by currency effects. 
 As of March 31 2025, SKF’s net debt was MSEK 14,933, 
 compared to SEK 16,472 as of January 1 2025. The decrease 
was mainly relating to currency effects. Provisions for post- 
employment benefits, net decreased by MSEK –569 (–390) in 
the first quarter, mainly driven by higher discount rates as  
well as currency effects.
0
5,000
10,000
15,000
20,000
25,000
Q1 25Q4 24Q3 24Q2 24Q1 24Q4 23Q3 23Q2 23Q1 23
0
0.4
0.8
1.2
1.6
MSEK
Net debt
Ratio
Net debt/Adjusted EBITDA
0
3,000
6,000
9,000
12,000
15,000
Q1 25Q4 24Q3 24Q2 24Q1 24Q4 23Q3 23Q2 23Q1 23
MSEK
1) 12 months rolling
0
10,000
20,000
30,000
40,000
Q1 25Q4 24Q3 24Q2 24Q1 24Q4 23Q3 23Q2 23Q1 23
0
10
20
30
40
MSEK %
Net working capital
Net working capital, % of 12 months rolling sales
Net debt and Net debt/Adjusted EBITDA
Net cash flow from operating activities 1)
Net working capital
Key figures
31 March 2025 31 Dec 2024 31 March 2024
Net working capital, % of 12 months rolling sales 30.4 30.6 30.9
Adjusted ROCE, % 14.0 14.2 15.1
Net debt/equity, % 25.2 26.6 26.6
Net debt/equity, excluding post-employment benefits, % 13.1 14.1 13.0
Net debt/EBITDA 1.0 1.1 1.1
Net debt/Adjusted EBITDA 0.9 1.0 0.9
Operating cash flow
MSEK Q1 2025 Q1 2024
EBITDA 4,143 4,065
Taxes −602 −726
Non-cash items and other items −735 23
Changes in net working capital −1,829 −1,581
Net cash flow from operating activities 977 1,781
Investing activities −603 −989
Operating cash flow after investments 374 792
4 SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 5 =====

Industrial business
Net sales
The Industrial business reported net sales of MSEK 17,033 
(17,487). This was driven by positive currency effects of 0.4% 
and acquired growth of 0.6%, while organic growth declined by 
–3.6%. The organic sales decline, year-over-year, was driven by 
a weak demand environment, partly offset by a solid price/mix 
through effective pricing activities and portfolio management. 
Organic sales declined for most regions, with the exception of 
Americas that had flat organic sales development year-over-year. 
From a customer industry perspective, aerospace continued  
to deliver solid organic growth, while renewable energy was 
down organically driven by a continued weakness in the global 
wind industry.
Operating profit
The adjusted operating profit was MSEK 2,871 (2,867), with  
a corresponding operating margin of 16.9% (16.4%). Adjusted 
operating profit was negatively impacted by lower sales  
and manufacturing volumes, which also resulted in cost  
inefficiencies. Cost reduction activities, solid price/mix  
contribution and positive currency effects fully offset lower 
sales and manufacturing volumes as well as  significant wage 
inflation and volume related cost  inefficiencies.
 
Share of  
Group adjusted 
 operating profit
Key financials
MSEK Q1 2025 Q1 2024
Net sales 17,033 17,487
Adjusted operating profit 2,871 2,867
Adjusted operating margin, % 16.9 16.4
Operating profit 2,677 2,644
Operating margin, % 15.7 15.1
Sales and Adjusted  
 operation profit bridge 1)
MSEK Q1 2024
Organic sales and 
manufacturing 
volumes Cost development Currency impact Structure 2) Q1 2025
Net sales 17,487 −644 76 114 17,033
Growth, % −3.6 0.4 0.6 –2.6
Adjusted operating profit 2,867 −228 160 63 9 2,871
Adjusted operating margin, % 16.4 16.9
Accretion/dilution, pp −0.7 0.9 0.3 −0.1
1) Numbers are rounded.
2) Including acquisitions and divestments of businesses.
Organic sales by 
customer industry 3)
Share of  
net sales  
by industry,%
Europe, Middle 
East & Africa The Americas
China & 
Northeast Asia 4)
India & 
Southeast Asia
Share of net sales by region, % 43 29 19 9
Industrial distribution 40 -- - +++ --
Aerospace 10 +/- +++ --- +/-
High-speed machinery and 
electrical drives 8 -- --- +/- +++
Heavy industries 7 --- +++ --- ---
Railway 7 +/- +++ --- +++
Other industrial 7 +/- +++ --- +/-
Agriculture, food and beverage 5 --- --- --- +++
Renewable energy 3 --- --- -- +++
Off-highway 3 --- +++ --- -
Marine 3 --- +++ +++ +/-
Material handling 2 --- --- +/- +++
Traditional energy 3 --- +/- +++ ---
Automation 2 --- + --- +++
Total -- +/- - --
3) For the quarter, in local currencies, changes year-over-year.
4) Reclassification of customer accounts between customer industries impact year-over-year comparison.
Share of  
Group net sales
Industrial
Automotive
89%71%
Industrial
Automotive
89%71%
5 SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 6 =====

Automotive business
Net sales
The Automotive business reported net sales of MSEK 6,933  
(7,212). The organic sales decline of –3.0% was driven by a 
weak demand environment, partly offset by a solid price/mix. 
Regionally, China and Northeast Asia posted positive organic 
growth, where mainly light vehicles drove the growth. Demand 
in Europe, Middle East and Africa continued to be weak.
Operating profit
The adjusted operating profit was MSEK 362 (436), with a  
corresponding margin of 5.2% (6.0%). The decline was related 
to higher costs due to lower cost absorption and significant 
wage inflation. Active portfolio management resulted in strong 
price/mix, which more than compensated for lower sales and 
manufacturing volumes.Furthermore, currency effects 
impacted the operating profit positively.
Key financials
MSEK Q1 2025 Q1 2024
Net sales 6,933 7,212
Adjusted operating profit 362 436
Adjusted operating margin, % 5.2 6.0
Operating profit 208 349
Operating margin, % 3.0 4.8
Sales and Adjusted  
 operation profit bridge 1)
MSEK Q1 2024
Organic sales and 
manufacturing 
volumes
Cost 
development
Currency 
impact Structure 2) Q1 2025
Net sales 7,212 −209 −70 0 6,933
Growth, % −3.0 −0.9 0.0 –3.9
Adjusted operating profit 436 89 −190 27 0 362
Adjusted operating margin, % 6.0 5.2
Accretion/dilution, pp 1.4 −2.7 0.4 0.0
1) Numbers are rounded.
2) Including acquisitions and divestments of businesses. 
Organic sales by 
customer industry 3)
Share of  
net sales  
by industry,%
Europe, Middle 
East & Africa The Americas
China & 
Northeast Asia
India & 
Southeast Asia
Share of net sales by region, % 42 32 15 11
Light vehicles 52 --- +/- +++ +
Vehicle aftermarket 32 - +/- +++ ---
Commercial vehicles 16 --- --- --- +++
Total --- +/- +++ +/-
3) For the quarter, in local currencies, changes year-over-year.
Share of  
Group adjusted 
 operating profit
Share of  
Group net sales
Automotive
Industrial
11%29%
Automotive
Industrial
11%29%
6 SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 7 =====

Outlook and  guidance
Outlook
• Q2 2025: We expect continued volatility and, even if we 
have seen signs of markets bottoming out, we plan for 
another quarter with negative volumes and expect organic 
sales to weaken somewhat in Q2, year-over-year. 
Guidance Q2 2025
• Currency impact on the operating profit is expected to  
be around MSEK 400 negative compared to the second 
quarter 2024, based on exchange rates per 31 March 2025. 
Guidance FY 2025
• Tax level excluding effects related to divested  businesses: 
around 26%. 
• Additions to property, plant and  equipment:  
around BSEK 4.5 excluding separation of the Automotive 
business. 
Previous outlook and guidance  statement 
Outlook
• Q1 2025: We expect organic sales to weaken 
• SKF has decided to discontinue issuing full year organic 
sales outlook.  
• Guidance Q1 2025
• Currency impact on the operating profit is expected to be 
around MSEK 200 positive compared to the first quarter 
2024, based on exchange rates per 31 December 2024.  
Guidance FY 2025
• Tax level excluding effects related to divested  
businesses: around 26%. 
• Additions to property, plant and equipment:  
around BSEK 4.5 excluding separation of the Automotive 
business.
Significant events after the quarter
1 April 2025 – Annual General Meeting of AB SKF
Hans Stråberg, Hock Goh, Geert Follens, Håkan Buskhe, 
Susanna Schneeberger, Rickard Gustafson, Beth Ferreira, 
Therese Friberg, Richard Nilsson and Niko Pakalén were 
reelected as Board members. Mats Rahmström was newly 
elected as Board member. Hans Stråberg was elected 
Chair of the Board. The Board has appointed Håkan 
Buskhe and Mats Rahmström as Vice Chairs of the Board.
14 April 2025 – Previously announced divestment of
ring and seal operation in Hanover, USA completed
SKF has completed the previously announced divestment  
of its ring and seal operation in Hanover, Pennsylvania, 
USA, to Carco PRP Group for a total enterprise value of 
MUSD 215, corresponding to approximately BSEK 2.1. 
The divestment will result in a capital gain amounting 
to approximately BSEK 0.8 in Q2 and will be reported as 
Items affecting comparability.
Other Group information
More information on  
https://investors.skf.com
7 SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 8 =====

SKF has a longstanding track record on understanding and 
reducing it’s environmental and climate impact and started 
already in 2000 to set targets and report on carbon dioxide 
emissions. In 2020, the target of decarbonizing own operations 
by 2030 was launched and in 2021 SKF’s target of net-zero 
greenhouse gas emissions for the full value chain by 2050 was 
set. Both targets have been approved by the Science Based 
Targets Initiative. 
The four strategic levers to decarbonized manufacturing 
operations by 2030 are energy and operational efficiency 
improvements, as well as switching to renewable energy 
sources and electrification of fossil fuel applications. This 
covers both scope 1 direct emissions as well as scope 2 
 indirect emissions.
During the last quarter reported, resulting in the full year 
result for 2024, the scope 1 and 2 emissions continued to 
reduce in line with the 2030 target trajectory. This is mainly 
explained by an increasing amount of renewable electricity 
sourced for example in India and China, a substantial reduction 
of emissions from natural gas, as well as contributions from 
energy efficiency improvements in manufacturing globally.
Decarbonized operations 2030
1) Latest figures are presented for the end of the previous quarter,  
12 months rolling.
Thousand tonnes 
CO 2 e
 Equivalent 
energy GWh
Actual full year, thousand tonnes CO 2 e
Equivalent energy GWh
SBTi trajectory, thousand tonnes CO 2 e
Actual YTD 12 months, thousand tonnes CO 2 e
0
500
1,000
1,500
2,000
0
100
200
300
400
500
203020292028202720262025202420232022202120202019
0
500
1000
1500
2000
Decarbonized operations (scope 1 and 2) 1)
CO2e target,
2030 vs 2019
–95% 
Sustainability is an integral part of SKF’s 
strategy and is a priority for long-term 
 profitable growth. Around 20% of all  
energy produced globally is used to over -
come friction. By creating more efficient 
and durable solutions for industries, 
 significantly cutting emissions by 2030  
and achieving net-zero greenhouse gas 
emissions in the supply chain by 2050,  
SKF is pioneering sustainability in its 
sphere. Further reporting of all material 
 sustainability topics are found in the annual 
report, including for example accident 
rates, disclosures for own workforce and 
workers in the value chain.
More information on  
www.skf.com/group/organisation/
sustainability
8 SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 9 =====

MSEK Jan-Mar 2025 Jan-Mar 2024
Net sales 23,966 24,699
Cost of goods sold −16,830 −17,604
Gross profit 7,136 7,095
Research and development expenses −849 −826
Selling and administrative expenses −3,448 −3,234
Other operating income/expenses, net 46 −42
Operating profit 2,885 2,993
Financial income and expenses, net −290 −271
Profit before taxes 2,595 2,722
Income taxes −647 −720
Net profit 1,948 2,002
Net profit attributable to:
Shareholders of AB SKF 1,796 1,888
Non-controlling interests 152 114
Basic earnings per share (SEK)1) 3.95 4.15
1) Shares from the Performance Share Programme are not considered dilutive, therefore, diluted earnings per share is equal to   
   basic earnings per share.
MSEK Jan-Mar 2025 Jan-Mar 2024
Net profit 1,948 2,002
Items that will not be reclassified to the income statement:
Remeasurements (actuarial gains and losses) 189 510
Assets at fair value through other comprehensive income −309 −21
Income taxes −39 −113
−159 376
Items that may be reclassified to the income statement:
Exchange differences arising on translation of foreign operations −4,641 2,735
Assets at fair value through other comprehensive income — —
Income taxes — —
−4,641 2,735
Other comprehensive income, net of tax −4,800 3,111
Total comprehensive income −2,852 5,113
Shareholders of AB SKF −2,794 4,869
Non-controlling interests −58 244
Condensed consolidated  
income statements
Financial statements – SKF Group
Condensed consolidated statements 
of comprehensive income
9 SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 10 =====

MSEK March 2025 December 2024 March 2024
Goodwill 11,574 12,574 12,678
Other intangible assets 4,169 4,671 5,148
Property, plant and equipment 28,152 30,470 28,360
Right-of-use asset leases 3,211 3,564 3,097
Deferred tax assets 3,436 3,369 3,235
Other non-current assets 2,488 2,971 2,490
Non-current assets 53,030 57,619 55,008
Inventories 24,845 26,182 24,552
Trade receivables 16,761 16,600 18,668
Other current assets 5,756 6,057 6,662
Other current financial assets 11,143 11,361 14,496
Current assets 58,505 60,200 64,378
Assets classified as held for sale 1,654 1,594 —
Total assets 113,189 119,413 119,386
Equity attributable to shareholders of AB SKF 56,898 59,649 57,687
Equity attributable to non-controlling interests 2,262 2,320 2,457
Long-term financial liabilities 14,397 15,399 18,776
Provisions for post-employment benefits 7,917 8,502 8,733
Provisions for deferred taxes 1,800 1,905 1,378
Other long-term liabilities and provisions 1,209 1,504 1,459
Non-current liabilities 25,323 27,310 30,346
Trade payables 11,783 12,553 11,645
Short-term financial liabilities 4,943 5,361 4,034
Other short-term liabilities and provisions 11,857 12,087 13,217
Current liabilities 28,583 30,001 28,896
Liabilities classified as held for sale 123 133 —
Total equity and liabilities 113,189 119,413 119,386
MSEK Jan-Mar 2025 Jan-Mar 2024
Opening balance 1 January 61,969 54,956
Net profit 1,948 2,002
Hyperinflation adjustments 41 91
Components of other comprehensive income
Currency translation adjustments −4,641 2,735
Change in FV OCI assets and cash flow hedges −309 −21
Remeasurements 189 510
Income taxes −39 −113
Transactions with shareholders
Non-controlling interest 32 —
Cost for Performance Share Programmes, net −30 −30
Dividends — 15
Other — −1
Closing balance 31 March 59,160 60,144
Condensed consolidated  
balance sheets
Condensed consolidated statements 
of changes in shareholders’ equity
10  SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 11 =====

MSEK Jan-Mar 2025 Jan-Mar 2024
Operating activities:
Operating profit 2,885 2,993
Non-cash items:
Depreciation, amortization and impairment 1,258 1,072
Net loss/gain (—) on sales of PPE and businesses −263 −2
Other non-cash items 89 376
Income taxes paid −602 −726
Interest received 46 82
Interest paid −146 −192
Other −461 −241
Changes in working capital: −1,829 −1,581
Inventories −589 −216
Accounts receivable −1,415 −1,094
Accounts payable 36 −73
Other operating assets/liabilities 139 −198
Net cash flow from operating activities 977 1,781
Investing activities:
Payments for intangible assets, PPE, businesses and equity securities −917 −997
Sales of PPE, businesses and equity securities 314 8
Net cash flow used in investing activities −603 −989
Net cash flow after investments before financing 374 792
MSEK Jan-Mar 2025 Jan-Mar 2024
Financing activities:
Proceeds from short- and long-term loans 53 2
Repayments of short- and long-term loans −41 −68
Repayment leases −233 −202
Cash dividends — —
Other financing items — —
Investments in short-term financial assets −107 −122
Sales of short-term financial assets 14 50
Net cash flow used in financing activities −314 −340
Net cash flow 60 452
Change in cash and cash equivalents:
Cash and cash equivalents at 1 January 11,031 13,311
Cash effect excl. acquired/sold businesses 60 452
Cash effect of acquired/sold businesses — —
Exchange rate effect −398 97
Cash and cash equivalents at 31 March 10,693 13,860
Change in Net debt
Closing 
balance 31 
March 2025
Other  
non-cash 
changes
Acquired/
sold 
businesses
Cash 
changes
Exchange 
rate effects
Opening 
balance 
1 January 
2025
Loans, long- and short-term 15,596 17 — 12 −959 16,526
Post-employment benefits, net 7,160 62 — −249 −382 7,729
Lease liabilities 3,179 146 — −233 −250 3,516
Financial assets, other −309 −2 — −69 30 −268
Cash and cash equivalents −10,693 — — −60 398 −11,031
Net debt 14,933 223 — −599 −1,163 16,472
Condensed consolidated statements of cash flow
11  SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 12 =====

MSEK unless otherwise stated Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25
Net sales 27,123 25,771 24,438 24,699 25,606 23,692 24,725 23,966
Cost of goods sold −19,720 −19,161 −18,316 −17,604 −18,736 −17,145 −17,864 −16,830
Gross profit 7,403 6,610 6,122 7,095 6,870 6,547 6,861 7,136
Gross margin, % 27.3 25.6 25.1 28.7 26.8 27.6 27.8 29.8
Research and development expenses −864 −785 −848 −826 −870 −782 −848 −849
Selling and administrative expenses −3,415 −3,213 −3,404 −3,234 −3,411 −3,225 −3,494 −3,448
as % of sales 12.6 12.5 13.9 13.1 13.3 13.6 14.1 14.4
Other operating income/expenses, net 89 −45 55 −42 −100 −14 −188 46
Operating profit 3,213 2,567 1,925 2,993 2,489 2,526 2,331 2,885
Operating margin, % 11.8 10.0 7.9 12.1 9.7 10.7 9.4 12.0
Adjusted operating profit 3,614 2,956 2,929 3,303 3,324 2,821 2,735 3,233
Adjusted operating margin, % 13.3 11.5 12.0 13.4 13.0 11.9 11.1 13.5
Financial net −383 −374 −709 −271 −377 −285 −317 −290
Profit before taxes 2,830 2,193 1,216 2,722 2,112 2,241 2,014 2,595
Profit margin before taxes, % 10.4 8.5 5.0 11.0 8.2 9.5 8.1 10.8
Income taxes −668 −460 −493 −720 −449 −610 −423 −647
Net profit 2,162 1,733 723 2,002 1,663 1,631 1,591 1,948
Net profit attributable to:
Shareholders of AB SKF 2,042 1,657 623 1,888 1,529 1,550 1,507 1,796
Non-controlling interests 120 76 100 114 134 81 84 152
Condensed consolidated financial information
12  SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 13 =====

MSEK Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25
Operating profit:
Industrial 2,633 2,081 1,913 2,644 2,131 2,241 2,269 2,677
Automotive 580 486 12 349 358 285 62 208
Financial net −383 −374 −709 −271 −377 −285 −317 −290
Profit before tax for the Group 2,830 2,193 1,216 2,722 2,112 2,241 2,014 2,595
Reconciliation of profit before taxes for the Group
Share data
Jan-Mar 2025 Jan-Mar 2024
Total number of shares: 455,351,068 455,351,068
 whereof A shares 28,930,844 29,286,933
 whereof B shares 426,420,224 426,064,135
Basic earnings per share (SEK) 1) 3.95 4.15
Diluted earnings per share (SEK) 2) 3.95 4.15
Weighted average number of shares, basic 455,351,068 455,351,068
Weighted average number of shares, diluted 455,351,068 455,351,068
1) Basic earnings per share is calculated as net profit (excl. non-controlling interests) divded by the weighted average number of shares.
2) Shares from the Performance Share Programme are not considered dilutive, therefore, diluted earnings per share is equal to basic earnings per share.
13  SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 14 =====

Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25
Net sales, MSEK 27,123 25,771 24,438 24,699 25,606 23,692 24,725 23,966
Organic growth, % 7.9 −0.6 −1.9 −7.0 −6.6 −4.4 −3.1 −3.5
Adjusted EBITDA, MSEK 4,553 4,027 4,069 4,280 4,326 3,831 3,833 4,298
EBITDA, MSEK 4,154 3,645 3,204 4,065 3,705 3,562 3,439 4,143
EBITA, MSEK 3,377 2,732 2,092 3,152 2,643 2,681 2,495 3,049
Adjusted operating profit, MSEK 3,614 2,956 2,929 3,303 3,324 2,821 2,735 3,233
Adjusted operating margin, % 13.3 11.5 12.0 13.4 13.0 11.9 11.1 13.5
Operating profit 3,213 2,567 1,925 2,993 2,489 2,526 2,331 2,885
Operating margin, % 11.8 10.0 7.9 12.1 9.7 10.7 9.4 12.0
Adjusted earnings per share, SEK 5.36 4.49 3.57 4.83 5.19 4.05 4.20 3.95
Basic earnings per share, SEK 4.48 3.64 1.37 4.15 3.36 3.40 3.31 4.71
Dividend per share, SEK — — — — 7.50 — — —
Share price at the end of the period, SEK 187.6 182.2 201.3 218.5 212.8 202.0 207.6 202.2
Net working capital, % of 12 months rolling sales 32.7 31.2 27.7 30.9 31.9 31.5 30.6 30.4
Adjusted ROCE, % 14.1 14.9 15.4 15.1 14.7 14.6 14.2 14.0
ROCE, % 12.7 13.3 13.3 12.7 11.9 11.9 12.1 11.9
ROE, % 12.0 12.6 12.0 11.5 10.6 10.4 11.7 11.5
Gearing, % 34.9 34.0 35.2 33.5 32.2 32.1 30.9 30.5
Equity/assets ratio, % 48.7 49.8 49.1 50.4 50.9 50.9 51.9 52.3
Additions to property, plant and equipment, MSEK 1,608 1,167 1,478 989 1,305 1,420 1,364 916
Net debt/equity, % 35.4 30.8 29.5 26.6 32.8 30.0 26.6 25.2
Net debt/equity, excluding post-employment 
benefits, % 20.4 16.9 13.9 13.0 18.6 16.2 14.1 13.1
Net debt, MSEK 20,393 17,893 16,191 15,983 18,937 17,291 16,472 14,933
Net debt/EBITDA 1.4 1.2 1.1 1.1 1.3 1.2 1.1 1.0
Net debt/Adjusted EBITDA 1.3 1.1 0.9 0.9 1.1 1.0 1.0 0.9
Registered number of employees 41,675 41,141 40,396 40,051 39,589 39,198 38,743 38,426
Definitions, see page 18.
SKF applies the guidelines issued by ESMA (European Securities and Markets Authority) on APMs (Alternative Performance Measures). These key figures are not defined or specified in IFRS but provide complementary  
information to investors and other stakeholders on the company’s performance. The definition of each APM is presented at the end of the interim report. For the reconciliation of each APM against the most reconcilable line item 
in the financial statements, see investors.skf.com/en.
Key figures 
14  SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 15 =====

Industrial
MSEK unless otherwise stated Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25
Net sales 19,114 18,037 17,350 17,487 17,943 16,537 17,508 17,033
Organic growth, % 5.7 −2.1 −3.0 −7.3 −7.4 −4.6 −2.7 −3.6
Adjusted operating profit 3,025 2,462 2,611 2,867 2,919 2,486 2,549 2,871
Adjusted operating margin, % 15.8 13.6 15.0 16.4 16.3 15.0 14.6 16.9
Operating profit 2,633 2,081 1,913 2,644 2,131 2,241 2,269 2,677
Operating margin, % 13.8 11.5 11.0 15.1 11.9 13.6 13.0 15.7
Adjusted EBITDA 3,847 3,386 3,594 3,719 3,790 3,379 3,512 3,800
EBITDA 3,457 3,013 3,035 3,592 3,180 3,160 3,242 3,799
Assets and liabilities, net1) 56,216 54,520 50,381 55,342 55,230 53,298 54,652 51,950
Registered number of employees1) 35,407 34,833 34,013 33,722 33,235 32,876 32,465 31,883
Automotive
MSEK unless otherwise stated Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25
Net sales 8,009 7,734 7,088 7,212 7,663 7,155 7,217 6,933
Organic growth, % 13.8 3.1 0.7 −6.2 −4.7 −4.0 −4.0 −3.0
Adjusted operating profit 589 494 318 436 405 335 186 362
Adjusted operating margin, % 7.4 6.4 4.5 6.0 5.3 4.7 2.6 5.2
Operating profit 580 486 12 349 358 285 62 208
Operating margin, % 7.2 6.3 0.2 4.8 4.7 4.0 0.9 3.0
Adjusted EBITDA 706 641 475 560 535 452 321 498
EBITDA 696 632 169 473 525 402 197 344
Assets and liabilities, net1) 16,048 15,806 14,648 15,582 15,941 15,549 16,159 15,354
Registered number of employees1) 3,955 3,970 4,093 3,968 3,983 3,918 3,879 3,913
1) Previously published figures for 2023 and 2024 have been restated to reflect change in responsibilities for factories and Group functions in accordance with new organizational structure.
Segment information – quarterly figures
15  SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 16 =====

Notes
NOTE 1  Accounting principles
The consolidated financial statements of the SKF Group were 
prepared in accordance with International Financial Reporting 
Standards (IFRS) as adopted by the EU. The interim report was 
prepared in accordance with IAS 34 Interim Financial Reporting. 
 Disclosures as required by IAS 34 p. 16 A are provided in the 
notes to the financial statements as well as in other parts of the 
interim report. The financial statements of the Parent Company 
were prepared in accordance with the “Annual Accounts Act” 
and the RFR 2 “Accounting for legal entities”. SKF Group and the 
Parent Company applied the same accounting principles and 
methods of computation in the interim financial statements as 
compared with the latest annual report. IASB issued several 
amended accounting standards that were endorsed by EU, 
effective date 1 January 2025. None of these have a material 
effect on the SKF Group’s financial statements.
 Pillar II income taxes legislation was effective from  
1 January, 2024. Under the legislation, the parent company 
will be required to pay top-up tax on profit of its subsidiaries 
that are taxed at an effective tax rate of less than 15 percent.    
No top-up tax has been included in the financial statements  
for the first quarter 2025. SKF Group has analyzed the financial 
figures and concluded that the Group is not expecting any 
additional material top-up tax during 2025. The Group will  
continue to assess the impact of Pillar II income taxes 
 legis lation on its future financial performance.
 Valuation principles and classifications of the financial 
instruments, as described in SKF Annual report 2024, have 
been consistently applied throughout the reporting period. 
There are no major changes in fair value during the period.
NOTE 2  Transactions with related parties
No significant change is present for transactions with  
related parties in relation to disclosure provided in Annual 
Report 2024.
NOTE 3  Risks and uncertainties in the    business
The SKF Group operates in many different industrial and 
 geographical areas. As a result, the SKF Group is exposed to 
various types of risks. SKF appreciates that there are risks 
associated with the macro environment such as the geo -
political landscape, the state of global markets and significant 
industry and technological shifts. There are also business 
risks including supply chain disruptions, information and 
cybersecurity threats, and challenges in attracting talent  
in a competitive labour market. Additionally, there are legal  
and compliance risks arising from the increased regulatory 
demands and internal governance and coordination within  
the Group as well as ongoing regulatory investigations  
and processes. 
The SKF Group’s operations are also exposed to various 
types of financial risks; market risks (being currency risk, 
 interest rate risk and other price risks), liquidity risks and credit 
risks. Further information on the risks and how SKF works to 
mitigate them is found in SKF’s latest annual report (available 
on investors.skf.com/en), under “Risks and the share”. 
The financial position of the Parent Company is dependent 
on the financial position and development of the subsidiaries. 
A general decline in the demand for the products and services 
provided by the Group could mean lower residual profits and 
lower dividend income for the Parent Company, as well as a 
need for writing down values of the shares in the subsidiaries.
NOTE 4  Assets held for sale
As per 31 March 2025 the net assets for the Aerospace 
 operations in US have been reported as assets held for sale  
in accordance with IFRS 5. Net assets per end of March 
amounted to approximately MSEK 1,500.
Gothenburg, 25 April 2025
Aktiebolaget SKF (publ)
Rickard Gustafson
President and CEO
This report has not been reviewed  
by AB SKF’s auditors.
16  SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 17 =====

MSEK Jan-Mar 2025 Jan-Mar 2024
Revenue 1,951 2,510
Cost of revenue −1,333 −1,451
General management and administrative expenses −477 −421
Other operating income/expenses, net 21 4
Operating profit 162 642
Financial income and expenses, net 120 −17
Profit before taxes 282 625
Appropriations — —
Income taxes −18 −140
Net profit 264 485
Parent Company condensed  
income statements
Parent Company condensed  
balance sheets
Parent Company condensed  
statements of comprehensive income
MSEK Jan-Mar 2025 Jan-Mar 2024
Net profit 264 485
Items that will not be reclassified to the income statement:
Assets at fair value through other comprehensive income −309 −21
Items that may be reclassified to the income statement:
Assets at fair value through other comprehensive income — —
Other comprehensive income, net of tax −45 464
Total comprehensive income −45 464
MSEK March 2025 December 2024 March 2024
Intangible assets 666 712 970
Investments in subsidiaries 20,777 20,797 22,431
Receivables from subsidiaries 11,748 12,483 15,974
Other non-current assets 710 937 767
Non-current assets 33,901 34,929 40,142
Receivables from subsidiaries 7,751 8,207 6,610
Other receivables 553 557 426
Current assets 8,304 8,764 7,036
Total assets 42,205 43,693 47,178
Shareholders’ equity 24,819 24,895 25,629
Provisions 760 731 790
Non-current liabilities 11,746 12,480 15,971
Current liabilities 4,880 5,587 4,788
Total shareholders’ equity, provisions and liabilities 42,205 43,693 47,178
Financial statements – Parent Company
17  SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 18 =====

Alternative performance measures and definitions
Adjusted operating profit 
Operating profit excluding items affecting 
comparability.
Adjusted operating margin 
Operating profit margin excluding items 
 affecting  comparability.
Adjusted earnings/loss per share in SEK 
Basic earnings per share excluding items 
affecting comparability.
Adjusted return on capital employed 
(Adjusted ROCE)
Return on capital employed (ROCE) 
 excluding items affecting comparability. 
Basic earnings/loss per share in SEK  
(as defined by IFRS) 
Profit/loss after taxes less non-controlling 
interests divided by the ordinary number  
of shares. 
Currency impact on operating profit 
The effects of both translation and trans -
action flows based on current assumptions 
and exchange rates compared to the 
 corresponding period last year.
Debt 
Loans and net provisions for post- 
employment benefits.
EBITA (Earnings before interest, taxes 
and amortization) 
Operating profit before amortizations.
EBITDA (Earnings before interest, 
taxes, depreciation and  amortization) 
Operating profit before depreciations, 
 amortizations, and  i mpairments.
Equity/assets ratio 
Equity as a percentage of total assets.
Gearing 
Debt as a percentage of the sum of debt 
and equity.
Gross margin 
Gross income as a percentage of net sales.
Items affecting comparability 
Significant income/expenses that affect 
comparability between accounting periods. 
This includes, but is not limited to, restruc -
turing costs, impairments and write-offs, 
currency effects caused by devaluations 
and gains and losses on divestments of 
businesses.
Net debt 
Debt less short-term financial assets 
excluding derivatives.
Net debt/EBITDA 
Net debt, in relation to 12 months  rolling 
EBITDA.
Net debt/equity 
Net debt, as a percentage of equity.
Net working capital (NWC) 
Trade receivables plus inventories  
minus trade payables
Operating margin 
Operating profit/loss, as a percentage 
of net sales.
Organic growth  
Sales excluding effects of currency and 
aquired and divested businesses. 
Revenue growth 
Sales excluding effects of currency and 
divested businesses. 
Registered number of employees 
Total number of employees included in 
SKF’s payroll at the end of the period. 
Return on capital employed (ROCE) 
Operating profit/loss plus interest income, 
as a percentage of 12 months rolling aver -
age of total assets less the  average of 
non-interest bearing liabilities.
Return on equity (ROE) 
Profit/loss after taxes as a percentage of 
12 months  rolling average of equity.
Scope 1, 2 and 3 
Scope 1 is emissions that SKF controls 
directly, e.g. equipment using fossil fuel.
Scope 2 is emissions that SKF causes indi -
rectly, e.g. from  electricity purchase.
Scope 3 is emissions that SKF is indirectly 
responsible for up the value chain, e.g. 
steel purchase or logistics.
SKF organic sales outlook
The organic sales outlook for SKF’s prod -
ucts and services represents manage -
ment’s best estimate based on current 
information about the future demand from 
our customers.
For reconciliations of other Key Ratios,  
see investors.skf.com/en
18  SKF FIRST-QUARTER REPORT 2025, PUBLISHED 25 APRIL 2025

===== SIDA 19 =====

This is SKF
Today, around 20% of all energy is spent overcoming friction. At SKF,  
we fight friction to reduce energy waste and make the most of the 
resources around us.
 As a leading technology and engineering company, we deliver value 
at everystep of our customers’ journey. From the design phase, integrating 
our solutions into customers’ products, to ongoing support throughout  
their lifecycle, we provide peace of mind.
 Built on a century of expertise and a profound understanding of our 
 customer applications, we’ve established a global presence and a brand 
trusted across industries. This allows us to offer tailored solutions –  
whether optimizing for speed, durability or efficiency – paving the way  
for a sustainable, resource-efficient future.  
Quick facts
Founded 1907
Represented in around 130 countries 
Figures for FY 2024:
• Net sales MSEK 98,722  
• 38,743 employees
• > 17,000 distributors
® SKF is a registered trademark of AB SKF (publ). © SKF Group 2025. All rights reserved. Please note that this publication may not 
be copied or distributed, in whole or in part, unless prior written permission is granted. Every care has been taken to ensure the 
accuracy of the information contained in this publication, but no liability can be accepted for any loss or damage whether direct, 
indirect or consequential arising out of the use of the information contained herein. April 2025. 
Q1 webcast
25 April at 09:00 CEST
To follow the presentation via webcast:
 
Viewing SKF Q1 2025 Results
Dial-in to participate via telephone:
Sweden  +46 (0)8 5051 0031
UK/International +44 (0)207 107 0613 
More information on  
https://investors.skf.com
Cautionary statement
This report contains forward-looking statements that reflect SKF’s current expectations on future events and financial and 
operational development. Forward-looking statements are inherently associated with risks and uncertainties, both known and 
unknown, and depend on future events and circumstances. Although management believes that the expectations reflected in 
the forward-looking statements are reasonable, no assurance can be given that such expectations will be fulfilled. Any state -
ments about future strategy and business decisions are indicative only and remain subject to all necessary approvals. Results 
and actual outcomes could differ materially as a result of several factors, including but not limited to changes in economic, 
market and competitive conditions, regulatory changes and other government action, and fluctuations in exchange rates. SKF 
makes no undertaking to disclose, update or revise any forward-looking statement due to new information, future events or 
other such matters, other than what is required according to applicable legislation.
Contact  
Investor Relations 
Sophie Arnius, Head of Investor Relations 
mobile +46 705 908 072 
sophie.arnius@skf.com
Press 
Carl Bjernstam, Head of Media Relations
tel +46 31 337 2517 
mobile +46 722 201 893  
carl.bjernstam@skf.com
Calendar 2025
18 July Q2 report
29 October Q3 report
11 November Capital Markets Day
30 January 2026 Q4 report
The financial information in this report 
 contains inside information that AB SKF is 
obliged to make public pursuant to the EU 
Market Abuse Regulation. The information 
was submitted for publication through  
the agency of the contact persons set out 
above, on 25 April 2025 at 07.30 CEST.
AB SKF (publ)
Postal address: SE-415 50 Gothenburg, Sweden 
Visiting address: Sven Wingquists Gata 2 
tel +46 31 337 10 00
www.skf.com 
Company reg.no. 556007-3495