Uncertain future lowered SKF – Helsingborgs Dagblad

Investors gave the report the thumbs down. The share had plummeted at lunchtime with just under eight percent

– Perhaps the most important is that the demand is not there. Firstly, the volumes in the quarter weaker than the market had expected, and secondly, the outlook is hardly uplifting, says Peder Frölén, analyst at Handelsbanken.

But it is Many factors interact, he continues. The rapid weakening in China is one. SKF selected to slow production is another. There are also questions about what will happen with SKF bildivision. An application for alteration of the activity is to start.

The weaker demand will also affect other engineering companies, says Peder Frölén. It also appeared on the stock market reactions. Companies such as Atlas Copco and Sandvik was pulled down.

SKF’s CEO Alrik Danielson think, however, that it was a good report, given the situation on the market.

– It was a result in line with our forecast, but of course with a weaker growth than what I had hoped, he said.

For the third quarter tracks SKF unchanged demand, compared with last year, and a slightly lower compared with the second quarter. The latter is an annual pattern. However, the uncertainty in the forecast has increased, according to Danielson.

In China, demand for vehicles gone down recently and the steel and mining industry has been weak.

– To the Chinese government will make efforts to strengthen the economy, we are confident, but the question is how successful they will be in the long run, says the CEO.