Sweden Herald - Latest Sweden News | SKF's Q1 results slightly worse than expected by Sweden Herald

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SKF reported its first‑quarter operating profit at just over SEK 2.6 billion, slightly below analyst expectations of SEK 2.7 billion and down from SEK 2.9 billion a year earlier, while net sales fell to SEK 21.9 billion from SEK 24 billion. Sales in Europe, the Middle East and Africa decreased by 1.1 % year‑on‑year, though they rose in other regions. CEO Rickard Gustafson attributed the weaker performance to geopolitical unrest, including the Middle‑East conflict, and expects demand to remain at roughly the same level as in the first three months of the year.

Read more: https://swedenherald.com/article/skfs-q1-results-slightly-worse-than-expected

#SKF #RickardGustafson #EMEA #MiddleEast #businessnews

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