SKF : Risks relating to achievement of the 2024 guidance are overestimated in our view
>Q2 2024: margin still resilient despite the fall in revenues - On Thursday morning SKF reported Q2 2024 results broadly in line with expectations at the adjusted EBIT level. Revenues were down -6.6% on an organic basis (vs css at -5.2%). Although not quantified by SKF, volumes were down significantly by our estimates (~-9%) with a still positive price-mix effect (~+2.5%). The adjusted EBIT margin was down 30bp y-o-y to 13% (vs css at 13.1%), a good performance given ...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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