SKF Q1 2021: Strong organic growth and operating profit, whi

SKF Q1 2021: Strong organic growth and operating profit, while managing cost and currency headwinds


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GOTHENBURG, Sweden, April 22, 2021 /PRNewswire/ -- A
s the Board announced in January, Rickard Gustafson will be joining as President and CEO at the latest by 1 July. Alrik Danielson's last working day with SKF will be 30 April. The Board has appointed Niclas Rosenlew as Interim CEO in addition to his current role as CFO.
Alrik Danielson, President and CEO:
"During the first quarter we saw strong sales and demand growth. We also experienced significant headwinds in terms of cost inflation and currency impact, affecting our operating result by SEK 1.3 billion. Despite this, we delivered a very solid adjusted operating result of SEK 2,789 million (SEK 2,572 million), representing an adjusted operating margin of 14% (12.8%).

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