SKF Nine-month report 2021: Industrial maintains its strong momentum; Automotive hit by customer supply constraints
Gothenburg, 26 October 2021
Rickard Gustafson, President and CEO:
“The third quarter saw continued solid demand. Our Industrial business, which represents approximately 75% of sales, maintained its strong momentum, despite challenges from logistics constraints and cost inflation. Our Automotive business was significantly impacted by reduced production amongst key customers, especially in September. Throughout the whole business, we have worked hard and diligently to mitigate the negative impact of these external circumstances.
Organic growth in the quarter was 8%, with Industrial