SKF’s earnings burdened by non-recurring items – Business Wire

SKF reported a profit before tax of SEK 653 million for the fourth quarter of 2015. The result includes non-recurring items of -973 million.

Analysts had on average expected a profit before tax of 1.158 billion crowns, including non-recurring items of -293 million, according to SME Direkt compilation.

SKF’s sales stood at 18.215 billion crowns. Analysts had expected sales of 18.18 billion kronor.

The operating profit totaled EUR 1,039 million, including non-recurring items of -687 million. Here was 1.536 billion crowns expected, including non-recurring items of -293 million.

A dividend of SEK 5.50 per share proposed (5.50). According to SME Direkt was expected to average 5:58 crowns.

SKF tracks that demand for its products and services during the first quarter of 2016 will be relatively unchanged for the Group compared with the previous quarter.

Compared with the same quarter a year ago, demand is expected to be slightly lower.

Ahead of the report, eight analysts according to SME Direkt on average expected a sequential view Index of minus 0.38, somewhere between unchanged and slightly lower demand .

The index is based on a seven-point scale from minus 3 to plus 3, SKF’s seven-view scale.

SKF tracks on demand in Europe during the current quarter will be higher than previous quarter, slightly lower in North America and the rest of the world lower.

For a quarter since the expected relatively unchanged sequential demand in Europe, slightly lower in North America, Latin America and Asia.