Documente Academic
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28 January 2015
Examples of new business in Q4 2014
% change
y-o-y
8
6
4
2
0
-2
-4
-6
-8
-10
2012 2013 2014
% y-o-y
6
3.9%
4
-0.7%
-2
-2.5%
-4
2012 2013 2014
Europe
1%
North
America
2%
Asia/Pacific
8%
Latin
America
4% Middle East
& Africa
-5%
Europe
1%
North
America
3%
Asia/Pacific
10%
Latin
America
1% Middle East
& Africa
9%
Volume -0.8 -2.8 -5.0 -5.9 -8.7 -1.6 2.2 7.1 6.2 3.6 1.9 1.8
Structure -0.1 0.0 0.8 1.0 1.5 2.6 1.1 4.8 4.7 3.8 5.4 0.9
Price/mix 1.9 2.0 0.5 0.7 0.7 -0.6 -0.2 -0.2 -0.4 1.0 1.3 1.0
Sales in
local 1.0 -0.8 -3.7 -4.2 -6.5 0.4 3.1 11.7 10.5 8.4 8.6 3.7
currency
Currency 0.4 3.6 -2.7 -3.6 -4.0 -5.0 -2.2 -2.1 -0.1 1.1 5.3 8.9
Net sales 1.4 2.8 -6.4 -7.8 -10.5 -4.6 0.9 9.6 10.4 9.5 13.9 12.6
SEKm
2,500
2,000
1,500
1,000
500
0
-500
-1,000
-1,500
-2,000
2012 2013 2014
SEKm
2500
2000
1500
1000
500
0
2012 2013 2014
One-time items
% * Excluding one-time items
16
14
12.0* 11.9* 11.7*
12
10 11.3 11.0
6
5.8
4
0
2012 2013 2014
%
18
15
Regional Sales
and Service
12 Specialty Business
Strategic Industries
9
3 Automotive
-3
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2012 2013 2014
%
18
15
Regional Sales
and Service
12
Specialty Business
Strategic Industries
9
3 Automotive
-3
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2012 2013 2014
SEKm
3000
+300 -398
2500
+110
+165 +23 +2 078
2000 +75
+1 803
1500 -1 547
1000
500
0
Q4 2013 Volumes Price/mix Specialty Savings Currencies Other* Q4 2014
excl. excl. Business
Specialty Specialty
Business Business * R&D, S&A, IT, inflation etc.
One-time items
2013: - 3 350
2014: -470
© SKF Group Slide 19 28 January 2015
Operating profit bridge, 2014 excl. One-time items
SEKm
10000 +500 +180 -1 227
+375
9000 +390
+505 +8 291
8000 +7 568
7000
6000
5000
4000
3000
2000
1000
0
2013 Volume Price/mix Specialty Savings Currencies Other* 2014
excl. excl. Business
Specialty Specialty
Business Business * R&D, S&A, IT, inflation etc.
One-time items
2013: - 3 875
© SKF Group Slide 20 28 January 2015
2014: -490
Net working capital as % of annual sales
Target: 27%
%
35
34
33
32
31
30
29
28
27
26
25
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2012 2013 2014
One-time items
* Excluding one-time items
%
20
17.1*
15.1*
15 14.8*
16.2
13.9
10
7.5
5
0
2012 2013 31 December 2014
SEKm
2,000 1)
5)
4)
1,000 3)
0 2)
-1,000
-2,000
-3,000
-4,000
-5,000
-6,000
-7,000
2012 2013 2014
Excl. acq. and div.: 1) Q3 2012 SEK 1 707 million
2) Q1 2013 SEK -69 million
3) Q3 2013 SEK 871 million
4) Q4 2013 SEK 1 170 million
© SKF Group Slide 23 28 January 2015
Excl. EU payment 5) Q2 2014 SEK 1 423 million
Net debt
SEKm
0
AB SKF,
-5,000 dividend paid (SEKm):
2012 Q2 2 504
-10,000 2013 Q2 2 530
2014 Q2 2 530
-15,000
Cash out from major
-20,000 acquisitions (SEKm):
2012 Q3 829
-25,000
2013 Q1 823
-30,000 2013 Q4 7 900
EURm
900 850
800
700
600
500 500
500
400
300
200
200
100 100 110
100
0
2015 2016 2017 2018 2019 2020 2021
Manufacturing
Manufacturing is expected to be higher year over year and compared to the
fourth quarter.
Total +
Share of net
sales 2014
People affected 530 410 320 0 130 860 0 170 30 100 300 1 690
Giving future gross
savings:
Full year gross 150 100 80 0 40 220 0 100 5 100 205 575
savings SEKm
S&A 50 50 50 50 200 0 0 0 0 0
Purchasing 100 100 100 100 400 60 100 100 100 360
Total 165 185 225 225 800 130 150 110 110 500
• Main activities:
Productivity gain through merging the industrial businesses
- merger between Strategic Industries & Regional Sales and Service
worldwide
- streamlining of supporting country organisations in all main countries
This presentation contains forward-looking statements that are based on the current
expectations of the management of SKF.
Although management believes that the expectations reflected in such forward-looking
statements are reasonable, no assurance can be given that such expectations will
prove to have been correct. Accordingly, results could differ materially from those
implied in the forward-looking statements as a result of, among other factors, changes
in economic, market and competitive conditions, changes in the regulatory
environment and other government actions, fluctuations in exchange rates and other
factors mentioned in SKF's latest annual report (available on www.skf.com) under the
Administration Report; “Important factors influencing the financial results", "Financial
risks" and "Sensitivity analysis”.