One-time items included in SKF's half-year results 2014
Resource from: CBCC Likes:233
Jul 07,2014
Gothenburg, Sweden, 4 July, 2014: SKF will report one-time items of around SEK 220 million impacting profit before taxes in the second quarter of 2014. The operating profit will include one-time costs of around SEK 110 million and the financial net will include a one-time cost of around SEK 110 million.
The one-time items refer to:
SKF’s programme to improve efficiency and reduce cost
SKF will report restructuring and one-time costs of around SEK 100 million impacting operating profit. Around 170 employees will be affected primarily in France and Brazil. Savings from this are expected to be around SEK 100 million and will mainly be achieved at the end of 2015. The main impact will be in the business area SKF Automotive.
This restructuring is part of the programme that was announced at the beginning of 2013, see press release of 14 January 2013.
Currency changes in Venezuela
SKF will report a negative one-time impact on the operating profit of around SEK 10 million and a negative one-time impact on the financial net of around SEK 110 million related to changes in currency regulation and currency rates in Venezuela which significantly impacts the value of the balance sheet in this country when converted into SEK.
SKF Half-year report 2014 will be published on 15 July at around 08.00 CEST.
Aktiebolaget SKF
(publ)
For further information, please contact:
Media Hotline: +46 31 337 2400
Press Relations: Ingalill Östman, +46 31-337 3260; +46 706-973260; ingalill.ostman@skf.com
Investor Relations: Marita Björk, +46 31-337 1994; +46 705-181 994; marita.bjork@skf.com
AB SKF is required to disclose the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 09:00 on 4 July 2014.
SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide. Annual sales in 2013 were SEK 63,597 million and the number of employees was 48,401. www.skf.com
® SKF is a registered trademark of the SKF Group.
()
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
Previous SKF’s half-year results will be published on 15 July 2014
Next Sopcawind, a multidisciplinary tool for designing wind farms
Next Sopcawind, a multidisciplinary tool for designing wind farms
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
