“Sales overall developed in line with our expectations and excluding one-offs we had a good cash flow from operations and we saw a good sequential improvement in our operating margin and profit,” said Tom Johnstone, SKF president and CEO.
“While the business mix remained somewhat negative the steps we are taking to improve the price/mix gave positive results. Our cost reduction programme is also delivering the expected results and additional activities were announced in the quarter. We continue to take steps to strengthen SKF and to support our long-term targets.”