SKF to Review Automotive Portfolio If Margin Doesn’t Improve
2014-09-10 14:32:00.653 GMT
By Niclas Rolander
Sept. 10 (Bloomberg) -- SKF CEO Tom Johnstone says
automotive unit “needs to step up” and improve profit margin.
* Automotive division needs “high single-digit” margin for
SKF to be able to reach its group op. margin tgt
* SKF will “address certain elements” of automotive division
* Co. will probably be ~1 year late in achieving all the
planned cost cuts from group’s restructuring program
* Co. needs to monitor macro uncertainty “very closely”
* SKF CEO Johnstone comments in interview at CMD in London
* NOTE: SKF’s automotive unit had op. margin excluding one-
time costs of 4.8% in 1H; group margin ex. items was 11.9%
* SKF targets group op. margin of 15%
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To contact the reporter on this story:
Niclas Rolander in Stockholm at +46-8-610-0712 or
nrolander@bloomberg.net
To contact the editors responsible for this story:
Simon Thiel at +44-20-7673-2814 or
sthiel1@bloomberg.net
Niklas Magnusson
2014-09-10 14:32:00.653 GMT
By Niclas Rolander
Sept. 10 (Bloomberg) -- SKF CEO Tom Johnstone says
automotive unit “needs to step up” and improve profit margin.
* Automotive division needs “high single-digit” margin for
SKF to be able to reach its group op. margin tgt
* SKF will “address certain elements” of automotive division
* Co. will probably be ~1 year late in achieving all the
planned cost cuts from group’s restructuring program
* Co. needs to monitor macro uncertainty “very closely”
* SKF CEO Johnstone comments in interview at CMD in London
* NOTE: SKF’s automotive unit had op. margin excluding one-
time costs of 4.8% in 1H; group margin ex. items was 11.9%
* SKF targets group op. margin of 15%
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Niclas Rolander in Stockholm at +46-8-610-0712 or
nrolander@bloomberg.net
To contact the editors responsible for this story:
Simon Thiel at +44-20-7673-2814 or
sthiel1@bloomberg.net
Niklas Magnusson