SKFRY - AB SKF (publ) Non-GAAP EPS of SEK 4.59 revenue of SEK 22.94B

AB SKF (publ) press release (OTCPK:SKFRY): Q1 Non-GAAP EPS of SEK 4.59. Revenue of SEK 22.94B (+15.5% Y/Y). Guidance for the second quarter 2022: We expect organic sales for the second quarter to be relatively unchanged compared to previous year. However, there are significant uncertainties in the market including Covid-related lock-downs in China. Currency impact on the operating profit is expected to be around SEK 200 million compared with the second quarter 2021, based on exchange rates per 31 March 2022. Guidance 2022: For the full year 2022, we expect an organic sales growth of about 4-8% vs. estimated growth of 5.13% Y/Y. Previous guidance was 5-10%; Tax level excluding effects related to divested businesses: around 26% and additions to property, plant and equipment: around SEK 5 billion.

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AB SKF (publ) Non-GAAP EPS of SEK 4.59, revenue of SEK 22.94B