HOME --- ABOUT US --- PRODUCTS --- TECHNICAL INFORMATION --- NEWS --- JOBS --- WRITE TO US --- CONTACTS Home NEWS SKF bearings start the year with optimism SKF bearings start the year with optimism 04/22/2014 13:48 The Swedish bearing manufacturer SKF Group has announced its results for the first quarter of 2014. Sales were SEK 16,734 million, slightly higher than the previous year's SEK 15,152 million. Operating profit was SEK 2,024 million, up from SEK 1,480 million last year. The operating margin increased from 9.8% to 12.1%. Net profit significantly exceeded last year's figures - 1 275 million Swedish kronor, and in the past 818 million Swedish kronor. During the quarter, bearing manufacturer SKF received a number of prestigious awards, launched a number of new products and successfully continued its cost-cutting program. In the first quarter of 2014, the integration process with Kaydon continued successfully. The Kaydon acquisition strengthened SKF's technology platform and generated synergies in both sales and cost reduction programs. The production volume will be slightly increased. Sales in the last quarter increased 4.4% in Europe, 2.9% in North America, 4.1% in Latin America, 10.6% in Asia and 21.4% in Africa and the Middle East ... Demand in the next quarter is expected to be higher in America and Asia, flat in Europe and slightly lower in Latin America. New products for the quarter ended include: customized bearings for helicopter transmissions and main axles, magnetic bearings, elastomeric bearings, system condition monitoring solutions, and seals. New projects opened with Bell Helicopter Textron Inc. In the USA, Hindustan Aeronautics Ltd in India, SCA, BillerudKorsnas in Sweden, Turbogaz in Ukraine, Geely Automobile in China, Volkswagen in Germany, one of the largest cement producers in Latin America. Awards received for Technical Cooperation Award from Goldwind, Supplier of the Year Award from Varian Medical Systems, Volvo Cars Quality Excellence (VQE) Award, Excellent Supplier Award from Geely, Excellent Quality Supplier Award from Hino Motors and General Motors - Supplier of the Year Award, General Motors. SKF's immediate plans include expanding basic platforms, developing new products and expanding the SKF Beyond Zero portfolio, expanding and creating new brands, acquiring new companies and fixed assets. To reduce costs, it is planned to consolidate production, optimize the production process, and work with supply chains of raw materials. SKF is present all over the world. Founded in 1907, it now employs 48,400 people and operates 165 production sites in 28 countries. More than 15,000 sales offices are located in 130 countries.