SKF : Guidance revised down but the margin remains solid
>Q3 2024: -4.4% organic decline in sales and margin up 40bp to 11.9% - This morning, SKF published Q3 2024 results that fell short of expectations for sales at SEK 23.7bn (consensus at SEK 24.2bn), down -4.4% organic (consensus at -2.9%). This decline resulted from negative volumes at the two divisions, with a -4.6% decline in sales for industrial and -4% in automotive. As expected, the group indicated a marked slowdown in demand (notably at the end of the quarter) in...AB SKF is the parent company of the SKF Group, which supplies products, solutions and services within rolling bearings, seals, mechatronics, services and lubrication systems. Services include technical support, maintenance services, condition monitoring, asset optimization, engineering consultancy and training. Co.'s business areas are: SKF Industrial Market - Strategic Industries, which includes bearings and bearing accessories and lubrication systems; SKF Industrial Market - Regional Sales and Service, which develops SKF Solution Factory facilities providing engineering capability; and SKF Automotive, which develops and manufactures bearings, seals and related products and services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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