Positive results for 2017

SFK Industry end of year results were presented on 7th February. “The past year has seen positive growth for the company as was foreseen from the start of 2017 – confirmed Ezio Miglietta, CEO of SKF Italy. Demand for goods and services both in the domestic Italian market and abroad has been buoyant, leading to revenues of well over €1bn”.
Total billing stood at €1.137 million, growth of 9.2% on 2016. Analyzing compartments, revenues were up 4% in Industrial, 2% in Automotive and Aerospace, 5% in Linear and Actuation Technology and 14 % in Intercompany. Operating profit was €110 million, excellent growth on the previous year and operative margin was also up, reaching 9.7% compared to 8.7% for the same period of 2016.
In order to push Industry 4.0 to its full potential, SKF created the Industry 4.0 Community, a co-ordination and community centre for technology dedicated to the intelligent factory. Many projects have already begun in Italian production sites. Industry 4.0 investment for projects set up in 2017 stood at €9m and a similar figure is already set aside for 2018.
To manage the change on the way resulting from the digitalization of manufacturing and the skills needed to stay up to date, SFK is pleased to participate in the new Masters in Manufacturing 4.0 created by the Politecnico Turin University, in which those registered will then be hired by the companies partnering the project. The goal of the Master, exclusively in English, will be to create the next generation of high profile engineering graduates entering the workplace able to manage the industrial production of the future.
Positive news comes from the Group’s final report on 2017. High demand was registered across markets with 4th quarter sales standing at +8% with double digit growth in the automotive sector.
This area is concentrating on technological development and cost reduction. “We are making great progress in propulsion and transmission for electric and hybrid vehicles – Alrik Danielson, President group CEO confirmed. “Our components have been chosen by numerous vehicle manufacturers. One very important European client has selected our bearings for the propulsion and transmission of their electric vehicle range”.
In geographical terms, Europe and Asia enjoyed solid growth, at 9% and 10% respectively, which was born of generally high levels of industrial operation and a solid automotive market. US sales grew by 5%.