SKF Nine-month report 2023: Resilient margins and strong cash flow despite slowdown in demand
Gothenburg, 27 October 2023 Rickard Gustafson, President and CEO: “During the quarter we continued to see a slowdown in demand from a weakening economic sentiment and customers reducing their inventories. Despite this, our profitability was resilient, and our cash flow remained strong as we continued to manage costs, prune the portfolio and reduce working capital whilst continuing to invest in innovation and further improving our manufacturing footprint as part of our strategic transformation and new decentralized way of working. Solid performance in a challenging market