The next phase of the investment will allow us to serve our customers even better, across wider applications and with a wider product range.
We have delivered another very strong set of results, despite falling demand connected to the Covid-19 pandemic.
Our cash flow generation and financial liquidity continues to be strong.
This latest addition to our ongoing collaboration with SKF adds great value for our mutual customers. This will allow them to assess their bearings within the context of full system level models in MASTA, while benefiting from the proprietary life calculations of SKF.
By offering customers in the steel industry the opportunity to work with us on a fee-basis, we give them access to our full competence around the rotating shaft, in order to improve productivity.
Our products help to reduce friction, energy and water consumption. Our offerings have always had an impact in these areas and by making sure our financing structure also contributes to a more sustainable world, we are taking the next step in our sustainability strategy.
Commercializing our product will create an entirely new global market for power generation equipment and services, and we are delighted to be working with SKF
We have almost a decade’s worth of experience of being a technical partner to developers of advanced tidal turbine technologies. By now taking the step from being a mechanical component supplier to supplying fully integrated power trains, we strengthen our position and focus on supporting selected cleantech industries.
SKF has managed the business well in a weakening economic environment and our efforts to reduce costs are contributing to a strong and stable operating margin in the quarter with an underlying margin of 11.3%.
More and more customers are becoming open to new, fee-based business models
The value of digitalization and automation within manufacturing lies in the insights it creates for machine owners and operators. By giving end-users real-time insights into the performance of their spindles using bearing trend development and diagnostics, we can help them make better decisions about maintenance. Simply put, this enables higher and more reliable performance
As well as reducing costs and increasing profitability, our REP fee-based approach reduces waste in the value chain and lowers environmental impacts. REP contributes to the circular economy through remanufacturing or recycling of bearings, and filtration and regeneration of lubricants. It also lowers material and energy consumption more generally thanks to longer-lasting components and more efficient machine performance. This is all good news for the future of businesses and our planet.
The SKF Silent Series feature a new and innovative polyamide cage centred on the balls that minimises this 'cage rattling' during rotation. Their silent operation increases the confidence of the end-user in the quality of spindles.
Our experts are here to help our customers make better product choices based on the value they want to create for their businesses. We also provide bearing calculation tools such as SimPro spindle, which makes it easier for our customers to design and choose the right bearings for their spindles.
Our efforts to keep costs under control are showing results, in a market with lower demand.
Gothia Cup is one of the world’s largest sporting events and a great way for use to showcase our support for young people and the city of Gothenburg.
The acquisition is also in-line with our ambition to develop and offer solutions that help customers reduce the environmental impact of their own operations.
SKF has always been at the forefront of developing new methods for calculating bearing life. GBLM is a giant leap for bearing science and will enable better choices to be made when selecting bearings for a wide variety of applications.
Through this investment we will increase our competitiveness in Asia.
We are deploying one of the worlds most advanced, flexible and fully automated assembly lines of its kind in Bari.
Demand in the first quarter developed in line with our expectations. Net sales reached SEK 21.3 billion and organic sales were relatively unchanged compared to last year. Operating profit, at SEK 2.7 billion, was strong.
We combined our specialist industrial knowledge with digital expertise from leading partners and customers. The result is a solution that reveals parts of a machine’s performance that were previously in the shadows, using the power of light alone
2018 was an excellent year for SKF, with record results and a significantly strengthened balance sheet.
The new logistics centre has been designed with the ambition of achieving a high LEED rating, showing our continued commitment to reducing the environmental impact of our operations.
Having successfully developed this as a stand-alone entity, it will now have an ownership structure that is able to invest in its continued development. The transaction also represents value for us and our shareholders by strengthening our balance sheet and focusing our product portfolio.
Our record start to 2018 has continued. Sales grew by 9% organically, to SEK 22.6 billion and our operating profit was SEK 2,925 million.
It’s a win-win where SKF helps us with their resources, and we come as close as possible to trouble-free operation.
Fiber optic sensing technology is an exciting opportunity, as it enables bearings to become process and quality control instruments. We have worked for some time to develop these sensors and by taking the next step together, we will be able to speed up the process of integrating these into customer applications.
Wheelset bearings are critical components for any rolling stock operator. Together with SKF we seek to move the industry toward the objective of one hundred-percent availability with safe, efficient service.
With Railigent, Siemens offers a powerful platform for a multitude of digital services. In particular, the system simplifies data access, enabling operators to gather essential data about the condition of their rolling stock components from a single access point.
Using accurate data to drive decision-making and avoid repeat issues is good for our clients and for the industry as a whole. Ultimately, this helps drive out waste and increases reliability
Recently, our technology was able to detect the underlying cause of bearing vibration and provide recommendations to prevent failure of a critical motor. Our data analytics software can even propose alternative solutions that would be longer-lasting and better suited to the conditions.”
“Our SKF bearings are designed to meet robust FCA performance requirements and contribute to an efficient, comfortable and smooth driving experience.”
The new service allows machine tuning to be conducted by an OEM from their own site, with their own technicians and without SKF’s physical presence
Fortunately, we have done fairly well in avoiding major breakdowns. It is very costly if something happens, so we want to prevent the risks as much as we can
“This team effort enabled us to meet our customer’s expectations for reliability, robustness, ease of maintenance and parts replacement; it also helps us to achieve one of our own corporate goals - that of delivering sustainable energy at a competitive price.”
“The SR2000 has met, and in many instances exceeded, our expectations and, combined with the fact that this is the world’s most powerful operating tidal turbine, it means we’re making a material contribution to the generation mix in Orkney with just this single unit.”
No other test center is capable of testing large-size bearings this accurately, under actual operating conditions, giving us and our customers a significant strategic advantage.
Imagine having access to an SKF application engineer or service technician on-demand, in real-time. If you are in a paper or steel mill close to an SKF Solution Factory, that’s not a problem. But the majority of our customers are based in remote locations. Our goal is to give them the same – or even better – access to our expertise, on-demand.
The total operating life of the bearings is important, but to reduce cost of ownership, the period between maintenance operations can be even more significant
These new programmes from SKF are designed to our bearing customers to deliver every facet of a well planned maintenance strategy with expert guidance available at every stage of the process
In today’s environment, we can no longer work in fixed production sequences, we want to take the real-time demand from the customer and produce those specific products in the volume batch required
The biggest challenge when using data to smarten up your equipment maintenance routines, is getting that data in the first place. The QuickCollect sensor and apps make this task not only easier but also cheaper than ever before. This entry-level machine monitoring system doesn’t require lots of training or skilled vibration analysts; it gives you on-the-spot indication of machine health, automated diagnostics, plus the ability to connect to expert help when problems are identified.
The creation of this European Centre will allow us to respond even faster to meet the expectations and needs of our customers in Europe, the Middle East and Africa, and ensure that we can respond quickly to developments within those markets. At Saint-Cyr-sur-Loire we have now concentrated unrivalled levels of expertise and competence in the automotive aftermarket segment.
The number of potential data collection points in a modern factory is increasing exponentially, but this data will only generate value for operators if it is analysed and acted upon to improve a machine’s performance and profitability. Our collaboration with Honeywell will make this possible.
Leveraging the IIoT gives manufacturers real-time access to operating information from an incrementally larger data-set across not only one site or plant, but across an entire enterprise. By creating an ecosystem of software and hardware manufacturers with unmatched domain experience, we will be able to better understand the risks and demands on the operating units and ultimately provide a higher level outcome for our customers.
The number of potential data collection points in a modern factory is increasing exponentially, but this data will only generate value for operators if it is analysed and acted upon to improve a machine’s performance and profitability.
We are honoured to receive this award and are thrilled to see that our efforts to provide an outstanding service throughout, from application design and specification support to the successful and rapid delivery of exceptional products, are helping TSA to grow its business. In particular, we are pleased to have been instrumental from the very start of TSA’s pioneering work in adopting the use of hybrid bearings to overcome the problems caused by electricity in railway applications and are proud to have helped the firm lead where others are now following.
SKF has been involved in our key projects from conception to fulfilment, and has provided exceptional technical expertise and high performance bearings solutions worthy of the Best Supplier of the Year title. The company has worked with us to offer excellent development assistance, customer support, cost effective products and fast turnaround times and we will continue to build on this relationship to consistently deliver a top rate service to our customers throughout the rail industry.
Enlight Centre is unlike anything else on market. Easy to use and easily tailored to match the user's specific requirements, it serves the capabilities of personnel on every level - from chief engineer to equipment operator, and offers a great way to teach 'work optimisation' techniques to less experienced staff.