SKF Financial Statement Analysis

  10.9% in the second quarter, net sales growth (Unit: SEK) attributable to: sales increased 16.6%, SKF Bearings prices fell by 0.5% and down 5.2% from currency effects. Net sales for the first half of 3.9 percent growth (Unit: SEK) attributed to: SKF Bearing sales growth of 10.8%, down 0.4% price mix and currency effects reduced by 6.5%.
  Tom? Johnstone, President and CEO: "Our second quarter sales to achieve positive growth, mainly due to continued strong growth in the automobile business and industrial business improvement. Good sales, higher manufacturing levels as well as cost-cutting measures we have taken together they created the SKF Group's strong growth, both operating profit or operating margins were a record.
 SKF Backing bearings Group 2010 Third Quarter Outlook
 We expect sales in the third quarter, the Group will continue to grow, it will greatly exceed last year's level. Even though we expect the European automotive industry sales will decline, but the performance of all regions and departments are to achieve growth. Manufacturing, will maintain the level of the second quarter, which means will be much higher than last year's level. "
After the usual seasonal adjustment, the manufacturing level than the same period last year greatly improved, compared with the second quarter will remain unchanged. Expected for the entire group, the various sectors and different regions of the demand for SKF's products and services will greatly increase. Expected demand for the whole of the SKF Group will be slightly increased. Sales in Europe are expected to remain unchanged, will be a slight increase in sales in North America, Asia and Latin America will have greater sales growth. Sales in the automotive sector is expected to remain unchanged, the industrial and service sectors will be a slight increase in sales.