SKF presents “good progress” figures in the first quarter of 2023

SKF presents “good progress” figures in the first quarter of 2023

After celebrating 100 years of its presence in India at the beginning of the year, the group is taking stock of the first three months of 2023.

” I am pleased to report a solid quarter with solid organic sales growth and record adjusted operating income for the first quarter. During this period, we witnessed organic sales growth of over 10% and continued strong demand in all our regions. Many of our segments identified as high-growth areas, such as rail, renewable energy and aerospace, contributed double-digit growth. “, explains Rickard Gustafson, CEO of SKF. The Automotive Division recorded the strongest organic growth, 11.9%. The Industrial Division recorded organic growth of 9.5%. The regions of India and Southeast Asia were the most requested. There In China and Northeast Asia, demand increased in many sectors such as wind power and industrial supply.

” In the second quarter of 2023, we expect strong single-digit organic sales growth. For the full year, the forecast is the same: single-digit organic sales growth compared to 2022.

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