SKF Half-year results 2013. Tom Johnstone, President and CEO. Highlights Q2 2013. New business 10-year contract worth SEK 900 million with Turbomeca service contracts worth SEK 200 million in Latin America contract for wheel hub bearing units (HBU3) to Volvo Car Corporation
Tom Johnstone, President and CEO
SKF Steering boot kits for cars and light trucks.
SKF Telescopic pillars series CPMA and CPMB for medical equipment.
The savings for the second half year 2013 will be around SEK 150 million, evenly split between the third and the fourth quarter.
North America: -1%
Latin America: 14%
Latin America 14%
Middle East & Africa -3%
Latin America 11%
Middle East & Africa -4%
Structure in 2011: 4.8%
Structure in 2012: 0.4%
Structure in YTD 2013: 2.0%
* Excluding one-time items
Regional Sales and Service
Excluding one-off items(eg. restructuring, impairments, capital gains)
* Excluding one-off costs
ROCE: Operating profit plus interest income, as a percentage of twelve months rolling average of total assets less the average of non-interest bearing liabilities.
* SEK 1,707 million,excluding acquisitions and divestments.
** SEK -69 million, excluding acquisitions and divestments.
dividend paid (SEKm):
2011 Q2 2,277
2012 Q2 2,504
2013 Q2 2,530
Cash out from
2012 Q3 829
2013 Q1 823
Net debt: Loans and net provisions for post-employment benefits less short-term financial assets excluding derivatives.
* excluding acquisitions and divestments, SEK 1,078 million (1,401).
Demand compared to the third quarter 2012 The demand for SKF’s products and services is expected to be slightly higher for the Group, Asia and North America as well as for all the business areas. It is expected to be relatively unchanged for Europe and higher for Latin America. Demand compared to the second quarter 2013 The demand for SKF’s products and services is expected to be relatively unchanged for the Group, Europe, Asia and North America as well as for all the business areas. It is expected to be slightly higher for Latin America. Manufacturing Manufacturing is expected to be slightly higher year over year and relatively unchanged compared to the second quarter.
Share of net sales 2012
* Guidance is approximate and based on current assumptions
and exchange rates
- New warehouse in Shanghai, China
- SKF Campus in Shanghai, China, including:‣ New factory for automotive‣ Global Technical Centre China‣ SKF Solution Factory‣ SKF College
- Integration of new acquisitions, GBC and BVI
- Cost reduction and efficiency programme
- New IT systems
One SKF and SKF Care as guiding lights