2021 was a strong year with solid growth and improved margins. The performance in the first half of the year was especially strong, while the second half of the year saw increasing challenges from supply chain constraints and cost inflation.
When have you
relied on rotation
today?
World-leading experts on rotation
SKF is a leading global supplier of solutions for rotating equipment. We combine hands-on industry experience with a vast product portfolio and knowledge around bearings, seals, lubrication management, condition monitoring and maintenance services.
One of our strengths is the ability to keep developing new technologies that offer competitive advantages to customers, and at the same time, contribute to a sustainable society.
SKF’s products are used all over the world and in a large variety of rotating applications, ranging from renewable energy, such as wind and ocean power, to heavy industries like mining, metal, and pulp and paper. Our products are also used in cars and commercial vehicles, as well as in bicycles, skateboards and household appliances.
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CUSTOMER INDUSTRIESCEO RICKARD GUSTAFSON
“Our broad knowledge and reach provides a great platform to drive profitable growth”
In 2021, we saw solid growth and improved margins. Now, we are focused on delivering on our ambitious plans, accelerating our journey to become an even more innovative, growth focused and profitable industrial player.
A strong year for SKF
Intelligent and clean growth
We have defined a strategic framework based on two important concepts: intelligent and clean. Intelligent means providing connected and tailored offerings for our customers, as well as using technology to make our operations more efficient. Clean reflects our ability to enable a more sustainable industry, as well as to running our own business in a transparent and responsible manner. These concepts will guide us as we embark on an exciting journey to become an even more focused and profitable industrial player.
A different SKF 2030
Our strategy to reach this
Decarbonizing in progress
SKF has been working with solutions to climate issues for many years. We have a proven track record, and we are confident that we will succeed in reaching net zero greenhouse gas emissions in our production facilities. We already source or generate about half of the electricity we use from renewable sources. By 2030, this will be 100% in every location across the SKF world. And by 2050, our entire supply chain, from raw materials to the delivered products, will be net zero.
We are SKF
SKF employs more than 42,000 people worldwide. Being a global company with a presence in nearly every industry offers great possibilities. Meet some of those who contribute to making SKF the technical partner of choice among our customers.
“My role is to focus on Cleantech, helping our customers reduce their environmental impact and to seize business opportunities for SKF that contribute towards addressing the climate change challenge.”
“I support our factories in their digitalization journey. Making sure they understand benefits and challenges, and how to solve their pain points in the best possible way.”
“As a department, we’re envisioned to be at the forefront of innovation. Powered by automation and modern tools, delivering future focused solutions is our main priority.”
“I enjoy my work the most when learning from my colleagues. Applying this in real life and generating customer value motivates me a lot.”
“SKF’s strategy to focus on the future workforce by developing and involving them in the journey of lean manufacturing and digitalization is critical to create a culture of innovation.”
“I joined SKF one year ago and I’m happy. I feel as part of a team with a lot of opportunities to continue growing within the company in the future.”
“SKF entitles employees to have self-decision power, which enables SKF’s leading position in cutting-edge technology. A win-win situation for both SKF and employees.”
“Imagination and creativity have always been at the core of SKF. The combination of engineering specialists and a customer centric sales force that listens to the needs of the market will keep SKF at the forefront of innovation.”
Read more about SKF in Annual Report 2021
