SKF Bearings, Schaeffler Group, TIMKEN Bearings, NSK Bearings 2024 Revenue And Profit Ranking

1. Turnover (Sales): SEK 96.902 billion (approximately RMB 67 billion), representing a year-on-year increase of approximately 6.2% (measured in local currencies). This growth was primarily driven by robust demand in both the Industrial and Automotive segments, as well as by price adjustments and product mix optimization.

2. Operating Profit: SEK 11.628 billion (approximately RMB 8.05 billion), representing a year-on-year increase of approximately 18.5%. This result benefited mainly from sales growth, improved operational efficiency, and cost control measures.

3. Net Profit: SEK 7.815 billion (approximately RMB 5.4 billion), representing a year-on-year increase of approximately 22.3%.

Performance of Key Business Segments

1. Industrial Business:
Sales revenue increased by approximately 7% year-on-year, driven by strong demand in the renewable energy, machine tool, and general industrial sectors.

2. Automotive Business:
Sales revenue grew by approximately 5% year-on-year, benefiting from the growth of bearings and system solutions related to electric vehicles, which partially offset weakness in the traditional automotive market.

Regional Market Performance

Europe: Sales growth was robust, with active investment in the industrial sector.
Asia: The Chinese market performed steadily, while markets in India and Southeast Asia experienced significant growth.
North America: Demand remained stable, with outstanding contributions from the industrial and automotive aftermarket sectors.

1. Revenue (sales amount)
■Approximately 16.3 billion euros (approximately 128 billion yuan) (bearings are only a part of its business)
■The year-on-year growth is about 3.4% (calculated at a fixed exchange rate), mainly contributed by the automotive technology sector (especially the electric drive business) and the industrial sector.

2. Earnings before interest and tax (EBIT)
■Approximately 1.22 billion euros (approximately 9.56 billion yuan)
■The pre tax profit margin is approximately 7.5%. Profit is affected by rising costs of raw materials and energy, as well as strategic investments such as electric drive and renewable energy.

3. Net profit
■About 580 million euros (approximately 4.55 billion yuan)

Performance of major departments of the group (including FAG related businesses)

□Automotive Technology Department: Significant sales growth, mainly due to strong orders in the electric vehicle sector and a surge in electric drive products.

□Automotive after-sales department: Sales remain stable.

□Industrial sector: Sales have achieved growth, with FAG brand mainly active in this sector, with stable demand for bearings in wind power, agricultural machinery, power transmission, and railways.

1. Total annual sales revenue
◎4.84 billion US dollars (approximately 35 billion yuan)
◎Basically on par with the record breaking 2023 ($4.85 billion). Against the backdrop of slowing demand in the industrial market, the company offset the impact of declining sales through price adjustments and market share growth.

2. Operating profit and profit
■Operating profit of $760 million
■The operating profit margin is 15.7%, which is a very strong level of profitability reflecting the value of the company's product portfolio and effective cost management.

3 Net profit
●Net profit of 417 million US dollars

Main Business Segment Performance (2024)

Mobile device industry:
The sales increased by about 4% year-on-year, making it the sector with the strongest growth. The main driving force comes from the stable demand in the railway, after-sales market, and aerospace sectors, partially compensating for the weakness in the heavy truck market.

Industrial processing industry:
The sales revenue has slightly decreased compared to the same period (about -1%). Although renewable energy (wind energy), food and beverage, and general industrial sectors have performed well, they have been offset by inventory adjustments in distribution channels, weakened demand for agricultural machinery, and traditional heavy industry.

1. Revenue (sales amount)
969 billion yen (approximately 45 billion yuan)
The year-on-year growth is about 10.4%, mainly benefiting from the recovery of demand and price adjustments in fields such as automobiles and industrial machinery.

2. Operating profit
41.2 billion yen (approximately 1.9 billion yuan)
The year-on-year growth is about 41.2%, thanks to sales growth, cost control, and exchange rate impact.

3. Net profit
33.3 billion yen (approximately 1.55 billion yuan)
The year-on-year growth is about 36.5%.

Performance of Main Business Segments

Automotive business: Sales increased by approximately 12% year-on-year, due to the recovery of global automotive production and the growth in demand for electrified components.

Industrial machinery business: Sales increased by approximately 8% year-on-year, benefiting from demand in areas such as machine tools and wind power.

Precision Machinery Business: Sales remained unchanged year-on-year, with a phased adjustment in demand for semiconductor equipment.