Kullagerjätten SKF reported a profit before tax of eur 1 376 million for the fourth quarter of 2016. It can be compared with a profit of 653 million in the corresponding period in 2015.
Analysts had on average expected a profit of eur 1 426 million, according to Reuters compilation.
Operating profit excluding non-recurring items landed on the 1 741 million, compared with 1 726 million a year earlier. Here, the low expectations of the average of 1 756 million.
Turnover amounted to 18 785 million (18 215).
the Board of directors proposes a dividend to shareholders at 5:50 sek per share, an unchanged level compared to last year.
"For the first quarter of 2017 expected demand for our products and services may be slightly higher compared with the previous year and relatively unchanged compared with the fourth quarter of 2016," writes the ceo Alrik Danielson in the interim report.
the SKF share is falling by about three percent after the report.