AB SKF (publ) (SKFRY) Q1 2025 Earnings Call Transcript

2025-04-25 12:12:38 ET

AB SKF (publ) (SKFRY)

Q1 2025 Earnings Conference Call

April 25, 2025, 3:00 AM ET

Company Participants

Sophie Arnius - Investor Relations

Rickard Gustafson - President and Chief Executive Officer

Susanne Larsson - Senior Vice President and Chief Financial Officer

Conference Call Participants

Daniela Costa - Goldman Sachs

Magnus Kruber - Nordea

James Moore - Redburn

Andre Kukhnin - UBS

Andreas Koski - Exane BNP Paribas

Erik Golrang - SEB

Tore Fangmann - Bank of America

Rory Smith - Oxcap

John Kim - Deutsche Bank

Tim Lee - Barclays

Rizk Maidi - Jefferies

Presentation

Sophie Arnius

A warm welcome to this call where we are focusing on SKF's performance for the First Quarter of 2025. And once again, we delivered solid margins and that's thanks to our diligent strategic execution.

My name is Sophie Arnius, I'm heading up Invest Relations and I will also be joined by our CEO, Rickard Gustafson; and our new CFO, I should say, Susanne Larsson, who rejoined SKF in mid-February. And after their presentations, we will open up for questions and there are two ways to do that. [Operator Instructions]

So, let's get started and it's a great pleasure to hand over to you Rickard.

Rickard Gustafson

Thank you so much Sophie, and good morning and warm welcome to all of you and thank you for joining us on this webcast.

Today, we're going to present a story that the actual journey continues. As you can see on this chart, we now present for the seventh consecutive quarter a negative organic growth, while at the same time our margin demonstrates strong resilience. And this is due to diligent strategy execution both in terms of driving commercial capabilities and operational capabilities. And I will touch more on this shortly.

Furthermore, our work to establish two competitive and fit-for-purpose businesses continues at a high pace, and clearly the ongoing discussions around tariff in geopolitical issues have required some significant attention from all of us during the quarter. And, of course, I will also bring some more flavor to this as we go through this presentation.

But let's start by looking at our numbers from at the top. Starting with net sales. We report net sales just shy of SEK24 billion, representing a negative organic growth of some 3.5%, clearly helped and offset by a strong price mix. So, i.e. demand has been low, but somewhat offset by a very strong price mix....

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