<p>SKF</p>
<p>2025 年 11 月 11 日，哥德堡：SKF 今天在斯德哥爾摩舉辦資本市場日。在此次活動中，深入探討了在計劃將汽車業務從 SKF 集團分離後，工業和汽車業務的戰略方向。鑑於工業和汽車業務部門的不同商業動態、製造流程、最終市場和成功驅動因素，預計通過成為兩個獨立的業務將釋放出顯著的價值。</p>
<p>“我們正在創建兩個更加專注的業務，明確聚焦於不同的機會，以提升客户價值，加速增長，並改善效率和競爭力，” 總裁兼首席執行官 Rickard Gustafson 表示。</p>
<p>預計汽車業務分離所帶來的增值體現在分離後工業和汽車業務的新長期目標和指示性目標中。</p>
<p><strong>新的財務目標</strong></p>
<p>在資本市場日上，SKF 集團在汽車業務分離後的長期財務目標，即工業業務，呈現如下：</p>
<ul>
<li>有機增長 [1]：4%</li>
<li>調整後營業利潤率：中期超過 17%，長期超過 19%</li>
<li>現金轉換率 [2]：60%</li>
<li>調整後資本回報率（ROCE）：20%</li>
<li>淨槓桿率 [3]：小於 2.0 倍</li>
<li>股息 [4]：50%</li>
</ul>
<p>SKF 還重申其可持續發展目標，即到 2030 年實現自身運營的脱碳，並在 2050 年實現淨零供應鏈。</p>
<p>工業業務擁有多元化的行業垂直基礎、強大的地理覆蓋以及超過一半淨銷售額的售後業務。為了創造更多進展，SKF 工業將通過高增長行業和地區重新點燃增長，擴大服務和智能解決方案，加速專業工業解決方案業務，並探索小規模的併購機會。此外，它將繼續通過以客户為中心的創新來推動創新領導力。最後，該戰略旨在通過完成正在進行的區域化和足跡優化工作以及持續優化供應鏈，進一步加強 SKF 以業務為驅動的價值鏈。</p>
<p><strong>汽車業務的財務目標</strong></p>
<p>SKF 的汽車業務是關鍵增長領域和地區的全球領先企業。分離後，SKF 汽車將能夠將投資引導至高增長和高利潤率的領域，同時建立更精簡和更具成本效益的架構，符合汽車行業最佳實踐。重點將繼續在領先領域獲勝，保持和加強創新領導地位，並擴大可尋址市場。精簡的公司架構和適應汽車行業的價值鏈將提高業務的速度和效率。</p>
<p>分離後汽車業務的長期指示性財務目標為：</p>
<ul>
<li>有機增長：在整個商業週期中高於市場</li>
<li>調整後營業利潤率：高個位數</li>
<li>淨槓桿率 [5]：小於 1.0 倍</li>
</ul>
<p>分離後集團的資本效率增強</p>
<p>在資本市場日上，SKF 還提供了關於工業業務正在進行的足跡和價值鏈優化的更新。SKF 的足跡轉型旨在實現適當規模以及日益自動化和區域化的生產，靠近客户的高產量。這將導致到中期淨銷售額的資本支出（CAPEX）增加約 5%，而長期預計約為 3.5%。</p>
<p>除了資本支出外，SKF 還識別出實現其全部潛力的機會，如長期收益目標超過 19% 所反映的，通過繼續優化工業業務。這一重組預計將導致高額的可比性影響項目（IAC），總計約 50 億瑞典克朗，從 2025 年第四季度到 2028 年，其中約 15 億瑞典克朗為非現金。此外，汽車分離預計將導致額外的 15 億瑞典克朗費用。2028 年後，IAC 預計將受到限制。</p>
<p>利用整合和區域化的足跡及供應基礎是集團降低淨營運資本至中期正常化的 29% 以及長期低於 27% 的重要部分。</p>
<p>“我們繼續積極執行戰略舉措，以釋放我們業務的全部價值。足跡優化和分離活動將推動長期盈利能力、增強資本效率，並增加現金流生成。總的來説，這將確保創建兩個成功的獨立業務，” Rickard Gustafson 表示。</p>
<p><strong>汽車分離的時間安排</strong></p>
<p>汽車分離按計劃進行。已實現的關鍵里程碑包括汽車業務中新職位的填補超過 70%，以及計劃在分拆前完成的製造渠道轉移超過 70%。SKF 預計，如之前所述，預計到 2026 年中期具備上市汽車業務的運營準備。上市需董事會提議並獲得股東批准。</p>
<p><strong>關於 SKF 資本市場日</strong></p>
<ul>
<li>SKF 的資本市場日將在瑞典斯德哥爾摩的 At Six 酒店和在線舉行。</li>
<li>該活動將以英語進行，演講將於 13:00（CET）開始，預計在 17:00 左右結束，之後將為現場參與者提供交流時間。</li>
<li>資本市場日的註冊已關閉。未註冊的人員可以通過 https://www.investis-live.com/skf/690e20b433139900142e7f65/cmd2025 觀看活動直播。</li>
<li>演示材料將在活動當晚在 SKF 的網站上提供，演示的錄音將在次日提供。</li>
<li>議程、演講者和實用信息可在註冊網站找到：https://invitepeople.com/events/fee9419f2a</li>
</ul>
<p>投資者、分析師和媒體的問題將在活動期間及之後得到解答。希望在活動後與總裁兼首席執行官 Rickard Gustafson 進行採訪的記者，請聯繫 Carl Bjernstam，郵箱為 carl.bjernstam@skf.com。</p>
<p>[1] 在不包括汽車合同製造的商業週期中，市場上方 1 個百分點。因此，4% 的目標是基於 3% 的市場增長假設。</p>
<p>[2] 調整後的投資後現金流 / 調整後的 EBITDA。</p>
<p>[3] 淨債務（包括養老金）/ 調整後的 EBITDA。</p>
<p>[4] 平均淨利潤的比例。</p>
<p>[5] 淨債務（包括養老金）/ 調整後的 EBITDA。</p>
<p>Aktiebolaget SKF</p>
<p>（公眾）</p>
<p>本新聞稿中的信息包含 AB SKF 根據歐盟市場濫用法規必須公開的信息。該信息於 2025 年 11 月 11 日 08:30 CET 通過以下聯繫人提交發布。</p>
<p><strong>如需更多信息，請聯繫：</strong></p>
<p>媒體關係：Carl Bjernstam，+46 31-337 2517；+46 722 201 893；carl.bjernstam@skf.com</p>
<p>投資者關係：Sophie Arnius，+46 31-337 8072；+46 705 908 072；sophie.arnius@skf.com</p>
<p>自 1907 年以來，SKF 一直在製造世界上最具創新性的軸承、密封件、潤滑系統、狀態監測解決方案和服務，以減少摩擦。減少摩擦意味着節省更多能源，通過減少摩擦，我們使工業更智能、更具競爭力和更節能，構建一個更可持續的未來，讓我們都能以更少的資源做更多的事情。SKF 在大約 130 個國家設有代表，全球約有 17,000 個分銷商。2024 年年銷售額為 987.22 億瑞典克朗，員工人數為 38,743 人。www.skf.com</p>
<p>® SKF 是 SKF 集團的註冊商標。</p>
<p>https://news.cision.com/skf/r/skf-hosts-capital-markets-day--announces-updated-strategy-and-new-financial-targets%2Cc4265019</p>
<p>20251111 SKF 舉辦資本市場日，宣佈更新戰略和新的財務目標</p>
<p>SKF CMD</p>
<p>SKF Rickard Gustafson</p>

2 倍做空金融股 ETF - ProShares

<p>SKF 在斯德哥爾摩舉辦了資本市場日，宣佈將其汽車業務進行戰略分拆，以增強價值創造。工業業務的新長期財務目標包括 4% 的有機增長和超過 19% 的調整後營業利潤率。汽車業務在分拆後目標實現高於市場的增長和高個位數的營業利潤率。SKF 重申其可持續發展目標，並計劃優化其業務佈局和供應鏈，預計汽車業務的分拆將在 2026 年中期準備好上市</p>

<p>SKF</p>
<div class="lb-trans"><p>SKF</p>
</div><p>Gothenburg, 11 November 2025: SKF is hosting its Capital Markets Day in Stockholm today. At the event, deeper insights are provided into the strategic direction of both the Industrial and the Automotive businesses post the planned separation of Automotive from SKF Group. Given different business dynamics, manufacturing processes, end markets and success drivers for the Industrial and Automotive business segments, significant value is expected to be unlocked by being two standalone businesses.</p>
<div class="lb-trans"><p>2025 年 11 月 11 日，哥德堡：SKF 今天在斯德哥爾摩舉辦資本市場日。在此次活動中，深入探討了在計劃將汽車業務從 SKF 集團分離後，工業和汽車業務的戰略方向。鑑於工業和汽車業務部門的不同商業動態、製造流程、最終市場和成功驅動因素，預計通過成為兩個獨立的業務將釋放出顯著的價值。</p>
</div><p>“We are creating two even sharper businesses with a clearer focus on distinct opportunities to enhance customer value, accelerate growth, as well as improve efficiency and competitiveness”, says Rickard Gustafson, President and CEO.</p>
<div class="lb-trans"><p>“我們正在創建兩個更加專注的業務，明確聚焦於不同的機會，以提升客户價值，加速增長，並改善效率和競爭力，” 總裁兼首席執行官 Rickard Gustafson 表示。</p>
</div><p>The increased value creation that the separation of the Automotive business is expected to bring is reflected in the new long-term targets and indicative objectives post separation for the Industrial and Automotive businesses respectively.</p>
<div class="lb-trans"><p>預計汽車業務分離所帶來的增值體現在分離後工業和汽車業務的新長期目標和指示性目標中。</p>
</div><p><strong>New financial targets</strong></p>
<div class="lb-trans"><p><strong>新的財務目標</strong></p>
</div><p>The long-term financial targets over a business cycle for SKF Group post separation of Automotive, i.e. the Industrial business, which are presented at the Capital Markets Day, are:</p>
<div class="lb-trans"><p>在資本市場日上，SKF 集團在汽車業務分離後的長期財務目標，即工業業務，呈現如下：</p>
</div><ul>
<li>Organic growth[1]: 4%</li>
<li>Adjusted operating margin: &gt;17% mid-term, &gt;19% long-term</li>
<li>Cash conversion[2]: 60%</li>
<li>Adjusted return on capital employed (ROCE): 20%</li>
<li>Net leverage[3]: &lt;2.0x</li>
<li>Dividend[4]: 50%</li>
</ul>
<div class="lb-trans"><ul>
<li>有機增長 [1]：4%</li>
<li>調整後營業利潤率：中期超過 17%，長期超過 19%</li>
<li>現金轉換率 [2]：60%</li>
<li>調整後資本回報率（ROCE）：20%</li>
<li>淨槓桿率 [3]：小於 2.0 倍</li>
<li>股息 [4]：50%</li>
</ul>
</div><p>SKF also reconfirms its sustainability targets to decarbonize its own operations by 2030 and reach net-zero supply chain by 2050.</p>
<div class="lb-trans"><p>SKF 還重申其可持續發展目標，即到 2030 年實現自身運營的脱碳，並在 2050 年實現淨零供應鏈。</p>
</div><p>The Industrial business has a resilient foundation with diversified industry verticals, strong geographical coverage and an aftermarket business representing more than half of net sales. To create even more progress, SKF Industrial will reignite growth through high-growth industries and geographies, by scaling services and intelligent solutions, accelerating the Specialized Industrial Solutions business, and exploring small bolt-on M&amp;A opportunities. Moreover, it will continue to drive innovation leadership by differentiating through customer-centric innovation. Lastly, the strategy aims at further strengthening SKF’s business-driven value chain through finalizing the ongoing regionalization and footprint optimization efforts as well as continued optimizing of the supply chain.</p>
<div class="lb-trans"><p>工業業務擁有多元化的行業垂直基礎、強大的地理覆蓋以及超過一半淨銷售額的售後業務。為了創造更多進展，SKF 工業將通過高增長行業和地區重新點燃增長，擴大服務和智能解決方案，加速專業工業解決方案業務，並探索小規模的併購機會。此外，它將繼續通過以客户為中心的創新來推動創新領導力。最後，該戰略旨在通過完成正在進行的區域化和足跡優化工作以及持續優化供應鏈，進一步加強 SKF 以業務為驅動的價值鏈。</p>
</div><p><strong>Financial objectives for the Automotive business</strong></p>
<div class="lb-trans"><p><strong>汽車業務的財務目標</strong></p>
</div><p>SKF’s Automotive business is a well-positioned global player in key growth segments and geographies. After the separation, SKF Automotive will be able to steer investments into high-growth and margin accretive areas while also establishing a leaner and more cost-efficient setup, in line with automotive best practice. The focus will be to continue winning in leading segments, maintaining and strengthening leadership in innovation, and expanding the addressable market. A lean company setup and an automotive-adapted value chain will increase both speed and efficiency in the business.</p>
<div class="lb-trans"><p>SKF 的汽車業務是關鍵增長領域和地區的全球領先企業。分離後，SKF 汽車將能夠將投資引導至高增長和高利潤率的領域，同時建立更精簡和更具成本效益的架構，符合汽車行業最佳實踐。重點將繼續在領先領域獲勝，保持和加強創新領導地位，並擴大可尋址市場。精簡的公司架構和適應汽車行業的價值鏈將提高業務的速度和效率。</p>
</div><p>The long-term indicative financial objectives for the Automotive business post separation are:</p>
<div class="lb-trans"><p>分離後汽車業務的長期指示性財務目標為：</p>
</div><ul>
<li>Organic growth: Above market over a business cycle</li>
<li>Adjusted operating margin: High single digit</li>
<li>Net leverage[5]: &lt;1.0x</li>
</ul>
<div class="lb-trans"><ul>
<li>有機增長：在整個商業週期中高於市場</li>
<li>調整後營業利潤率：高個位數</li>
<li>淨槓桿率 [5]：小於 1.0 倍</li>
</ul>
</div><p>Strengthened capital efficiency for the Group post separation</p>
<div class="lb-trans"><p>分離後集團的資本效率增強</p>
</div><p>On its Capital Markets Day, SKF also provides an update on the ongoing footprint and value chain optimization of the Industrial business. The transformation of SKF’s footprint is targeting a rightsized as well as increasingly automated and regionalized production with higher volumes closer to customers. This will result in increased CAPEX of net sales of approximately 5% up until mid-term, while in the long term it is expected to be around 3.5%.</p>
<div class="lb-trans"><p>在資本市場日上，SKF 還提供了關於工業業務正在進行的足跡和價值鏈優化的更新。SKF 的足跡轉型旨在實現適當規模以及日益自動化和區域化的生產，靠近客户的高產量。這將導致到中期淨銷售額的資本支出（CAPEX）增加約 5%，而長期預計約為 3.5%。</p>
</div><p>In addition to CAPEX, SKF has identified opportunities to reach its full potential, as reflected in the long-term earnings target of &gt;19%, by continuing the ongoing optimization of the Industrial business. This restructuring is expected to result in high items affecting comparability (IAC), totaling approximately BSEK 5.0 from Q4 2025 through 2028, whereof approximately BSEK 1.5 is non-cash. Furthermore, the Automotive separation is expected to result in additional BSEK 1.5 of charges. Post 2028, IAC is expected to be limited.</p>
<div class="lb-trans"><p>除了資本支出外，SKF 還識別出實現其全部潛力的機會，如長期收益目標超過 19% 所反映的，通過繼續優化工業業務。這一重組預計將導致高額的可比性影響項目（IAC），總計約 50 億瑞典克朗，從 2025 年第四季度到 2028 年，其中約 15 億瑞典克朗為非現金。此外，汽車分離預計將導致額外的 15 億瑞典克朗費用。2028 年後，IAC 預計將受到限制。</p>
</div><p>Leveraging a consolidated and regionalized footprint and supply base is an important part of the Group’s ambition to decrease the net working capital to a normalized 29% in the mid-term and long-term below 27%.</p>
<div class="lb-trans"><p>利用整合和區域化的足跡及供應基礎是集團降低淨營運資本至中期正常化的 29% 以及長期低於 27% 的重要部分。</p>
</div><p>“We continue to proactively execute on our strategic initiatives to unlock the full value of our business. The footprint optimization and separation activities will drive long-term profitability, a strengthened capital efficiency, and increase cash flow generation. All in all, it will secure the creation of two successful stand-alone businesses”, says Rickard Gustafson.</p>
<div class="lb-trans"><p>“我們繼續積極執行戰略舉措，以釋放我們業務的全部價值。足跡優化和分離活動將推動長期盈利能力、增強資本效率，並增加現金流生成。總的來説，這將確保創建兩個成功的獨立業務，” Rickard Gustafson 表示。</p>
</div><p><strong>Timing of the Automotive separation</strong></p>
<div class="lb-trans"><p><strong>汽車分離的時間安排</strong></p>
</div><p>The Automotive separation is proceeding according to plan. Key milestones already achieved include that over 70% of the new positions in Automotive have been filled and more than 70% of the manufacturing channel transfers that are planned pre-spin have been completed. SKF expects, as previously announced, to be operationally ready to list the Automotive business by mid-2026. Listing is subject to the Board of Directors proposing a listing and shareholders’ approval.</p>
<div class="lb-trans"><p>汽車分離按計劃進行。已實現的關鍵里程碑包括汽車業務中新職位的填補超過 70%，以及計劃在分拆前完成的製造渠道轉移超過 70%。SKF 預計，如之前所述，預計到 2026 年中期具備上市汽車業務的運營準備。上市需董事會提議並獲得股東批准。</p>
</div><p><strong>About SKF Capital Markets Day</strong></p>
<div class="lb-trans"><p><strong>關於 SKF 資本市場日</strong></p>
</div><ul>
<li>SKF’s Capital Markets Day is held at At Six Hotel in Stockholm, Sweden, and online.</li>
<li>The event will be held in English, and presentations will start at 13:00 (CET) and end around 17, followed by a mingle for those attending in person.</li>
<li>Registration to attend the Capital Markets Day is closed. For those not registered, the event is possible to stream at https://www.investis-live.com/skf/690e20b433139900142e7f65/cmd2025.</li>
<li>The presentation material will be available on SKF’s website on the evening of the event, and the recording of the presentations will be available the following day.</li>
<li>Agenda, speakers and practical information are found on the registration site: https://invitepeople.com/events/fee9419f2a</li>
</ul>
<div class="lb-trans"><ul>
<li>SKF 的資本市場日將在瑞典斯德哥爾摩的 At Six 酒店和在線舉行。</li>
<li>該活動將以英語進行，演講將於 13:00（CET）開始，預計在 17:00 左右結束，之後將為現場參與者提供交流時間。</li>
<li>資本市場日的註冊已關閉。未註冊的人員可以通過 https://www.investis-live.com/skf/690e20b433139900142e7f65/cmd2025 觀看活動直播。</li>
<li>演示材料將在活動當晚在 SKF 的網站上提供，演示的錄音將在次日提供。</li>
<li>議程、演講者和實用信息可在註冊網站找到：https://invitepeople.com/events/fee9419f2a</li>
</ul>
</div><p>Questions from investors, analysts and media will be answered at the event and after. For journalists wishing to book interviews with Rickard Gustafson, President and CEO, after the event, please contact Carl Bjernstam on carl.bjernstam@skf.com.</p>
<div class="lb-trans"><p>投資者、分析師和媒體的問題將在活動期間及之後得到解答。希望在活動後與總裁兼首席執行官 Rickard Gustafson 進行採訪的記者，請聯繫 Carl Bjernstam，郵箱為 carl.bjernstam@skf.com。</p>
</div><p>[1] 1 p.p. above market over a business cycle excluding Automotive contract manufacturing. Consequently, the target of 4% is based on an assumption of market growth of 3%.</p>
<div class="lb-trans"><p>[1] 在不包括汽車合同製造的商業週期中，市場上方 1 個百分點。因此，4% 的目標是基於 3% 的市場增長假設。</p>
</div><p>[2] Adj. Cash flow after investments / Adj. EBITDA.</p>
<div class="lb-trans"><p>[2] 調整後的投資後現金流 / 調整後的 EBITDA。</p>
</div><p>[3] Net debt (including pensions) / Adj. EBITDA.</p>
<div class="lb-trans"><p>[3] 淨債務（包括養老金）/ 調整後的 EBITDA。</p>
</div><p>[4] Of average net profit.</p>
<div class="lb-trans"><p>[4] 平均淨利潤的比例。</p>
</div><p>[5] Net debt (including pensions) / Adj. EBITDA.</p>
<div class="lb-trans"><p>[5] 淨債務（包括養老金）/ 調整後的 EBITDA。</p>
</div><p>Aktiebolaget SKF</p>
<div class="lb-trans"><p>Aktiebolaget SKF</p>
</div><p>(publ)</p>
<div class="lb-trans"><p>（公眾）</p>
</div><p>The information in this press release contains inside information that AB SKF is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out below on 11 November 2025 at 08.30 CET.</p>
<div class="lb-trans"><p>本新聞稿中的信息包含 AB SKF 根據歐盟市場濫用法規必須公開的信息。該信息於 2025 年 11 月 11 日 08:30 CET 通過以下聯繫人提交發布。</p>
</div><p><strong>For further information, please contact:</strong></p>
<div class="lb-trans"><p><strong>如需更多信息，請聯繫：</strong></p>
</div><p>Press Relations: Carl Bjernstam, +46 31-337 2517; +46 722 201 893; carl.bjernstam@skf.com</p>
<div class="lb-trans"><p>媒體關係：Carl Bjernstam，+46 31-337 2517；+46 722 201 893；carl.bjernstam@skf.com</p>
</div><p>Investor Relations: Sophie Arnius, +46 31-337 8072; +46 705 908 072; sophie.arnius@skf.com</p>
<div class="lb-trans"><p>投資者關係：Sophie Arnius，+46 31-337 8072；+46 705 908 072；sophie.arnius@skf.com</p>
</div><p>Since 1907, SKF has been making some of the world’s most innovative bearings, seals, lubrication systems, condition monitoring solutions, and services to reduce friction. Less friction means more energy saved and by reducing it, we make industry smarter, more competitive, and more energy efficient, building a more sustainable future where we can all do more with less. SKF is represented in approximately 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2024 were SEK 98,722 million and the number of employees was 38,743. www.skf.com</p>
<div class="lb-trans"><p>自 1907 年以來，SKF 一直在製造世界上最具創新性的軸承、密封件、潤滑系統、狀態監測解決方案和服務，以減少摩擦。減少摩擦意味着節省更多能源，通過減少摩擦，我們使工業更智能、更具競爭力和更節能，構建一個更可持續的未來，讓我們都能以更少的資源做更多的事情。SKF 在大約 130 個國家設有代表，全球約有 17,000 個分銷商。2024 年年銷售額為 987.22 億瑞典克朗，員工人數為 38,743 人。www.skf.com</p>
</div><p>® SKF is a registered trademark of the SKF Group.</p>
<div class="lb-trans"><p>® SKF 是 SKF 集團的註冊商標。</p>
</div><p>https://news.cision.com/skf/r/skf-hosts-capital-markets-day--announces-updated-strategy-and-new-financial-targets%2Cc4265019</p>
<div class="lb-trans"><p>https://news.cision.com/skf/r/skf-hosts-capital-markets-day--announces-updated-strategy-and-new-financial-targets%2Cc4265019</p>
</div><p>20251111 SKF hosts Capital Markets Day, announces updated strategy and new financial targets</p>
<div class="lb-trans"><p>20251111 SKF 舉辦資本市場日，宣佈更新戰略和新的財務目標</p>
</div><p>SKF CMD</p>
<div class="lb-trans"><p>SKF CMD</p>
</div><p>SKF Rickard Gustafson</p>
<div class="lb-trans"><p>SKF Rickard Gustafson</p>
</div>

SKF 舉辦資本市場日，並宣佈了更新後的戰略和新的財務目標