Net profit was SEK1,275 million, compared to SEK818 million.

“Sales developed well in the first quarter compared to the low first quarter last year and were relatively unchanged compared to the fourth quarter,” said Tom Johnstone, SKF president and CEO. “We continued to have a negative mix in our sales with a stronger development of our automotive business and our industrial OEM sales in Asia. [...]

Going forward we expect demand to develop positively both sequentially and compared to the second quarter last year. Manufacturing will be higher year on year and slightly higher compared to the first quarter.”