Bearing manufacturer SKF reports an adjusted operating result of 2 billion kronor for the third quarter of the year. This can be compared to the profit of 2.5 billion kronor for the corresponding period last year.
Revenue fell to 22.5 billion kronor compared to 23.6 billion kronor a year earlier. It was in line with analysts' expectations, according to Bloomberg. The operating margin fell to 8.9 percent compared to last year's 10.7.
"We continue to invest to make SKF an even more focused company, which will provide profitable growth opportunities when the markets improve", writes CEO Rickard Gustafsson in the interim report.
This summer, the bearing manufacturer announced that they will reduce the workforce and that 1,700 positions will disappear from the group.
