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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  AB SKF    SKF B   SE0000108227


Real-time Estimate Quote. Real-time Estimate CHI-X - 04/03 11:29:30 am
125.825 SEK   -2.35%
03/27SKF PUBL : announces changes to Group Management
03/27SKF : Ex-dividend day for final dividend
03/26SKF PUBL : Annual General Meeting of AB SKF
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

SKF publ : increases shift towards carbon neutral manufacturing

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02/20/2020 | 03:01am EDT

SKF's automotive bearing factory in Tudela, Spain joins industrial bearing factory in Steyr, Austria as the Group's first carbon neutral manufacturing sites.  

Gothenburg, 20 February 2020: SKF's automotive bearing factory in Tudela, Spain, has become the Group's second manufacturing site to achieve carbon neutral status. Together with the Steyr factory in Austria, which manufactures a range of bearings for industrial uses, the two factories have reduced their combined annual CO2 emissions by some 22,000 tonnes.

The reduction in CO2 emissions has been achieved by a combination of investments in process improvement, energy efficient machinery, solar panels and procurement of renewable electricity. At both Steyr and Tudela, approximately 500 tonnes of CO2 emissions per year from heating facilities are being compensated for by Gold Standard carbon offsets.

Bernd Stephan, President, Automotive and Aerospace, says: "The world does not face many more urgent issues than that of climate change and everything we can do to mitigate this is important. I believe the achievement of our teams in Tudela and Steyr are significant and something to be proud of. Investments have of course been made in this regard, but the main reason this has been achieved is the focus and commitment of our colleagues."

Julian Jimenez Argudo, Tudela Factory Manager, says: "Being able to offer our customers products that have been manufactured in a carbon neutral factory sets us apart from the rest. Our achievements in Tudela are thanks to improvements in processes and investments in energy efficient machines and solar panels. A cultural change has also taken place, with everyone in the factory actively working to reduce their use of natural resources."

SKF's climate objectives focus on reducing emissions across the entire value chain. With 2015 as the base year, SKF aims to reduce its CO2 emissions from manufacturing per tonne of sold bearings by 40% by 2025. As per the end of 2019, -36% has been achieved, putting the Group well ahead of this already ambitious target.

In addition to investments in energy efficient factories and solar panels, SKF currently sources roughly 50% of its total electricity consumption from renewable sources. SKF was one of the first companies to achieve certification to the ISO 50001 energy management standard on a global basis and is also working with suppliers to drive energy efficiency and reduced CO2 throughout the supply chain.

Aktiebolaget SKF

Facts, SKF Tudela Factory:
Manufactures automotive wheel hub bearing units
Total number of staff: 250
Energy consumption reduction since 2011: 45%
Proportion of green energy procured: 100%

Facts, SKF Steyr factory:
Manufactures a range of bearings for industrial applications as well as being the Group's center for bearing remanufacturing.
Total number of staff: 1 130
Proportion of green energy procured: 100%

For further information, please contact:
PRESS: Theo Kjellberg, Director, Press Relations
tel: 46 31 337 6576, mobile: 46 725-776576, e-mail: theo.kjellberg@skf.com

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
Patrik Stenberg, 46 31-337 2104; 46 705-472 104; patrik.stenberg@skf.com

SKF's mission is to be the undisputed leader in the bearing business. SKF offers solutions around the rotating shaft, including bearings, seals, lubrication, condition monitoring and maintenance services. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2019 were SEK 86 013 million and the number of employees was 43,360. www.skf.com
® SKF is a registered trademark of the SKF Group.





(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials (SEK)
Sales 2020 79 035 M
EBIT 2020 7 144 M
Net income 2020 4 079 M
Debt 2020 18 218 M
Yield 2020 4,10%
P/E ratio 2020 15,2x
P/E ratio 2021 10,3x
EV / Sales2020 0,97x
EV / Sales2021 0,87x
Capitalization 58 661 M
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Mean consensus HOLD
Number of Analysts 23
Average target price 157,22  SEK
Last Close Price 128,85  SEK
Spread / Highest target 59,1%
Spread / Average Target 22,0%
Spread / Lowest Target -6,87%
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