SKF : We see the 2024 guidance as ambitious
>Q4 2023: 8% ahead of expectations at the EBIT level, thanks to industrial division - Yesterday morning SKF reported Q4 2023 results that beat expectations with an organic decline of -1.9% (vs consensus -2.9%) and an operating EBIT margin up +200bp to 12% (vs consensus 10.9%). Volumes were down significantly by close to -7% by our estimates, while the price effect was still positive (just below 5% according to management comments). The Industrial division posted ...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.
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