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SKF Announces New Business Segments and Restated Financial Figures

On March 16, 2026, SKF, a leading global supplier of bearings, seals, and lubrication systems, unveiled a new segment reporting structure that will take effect from the first quarter of 2026. This decision aims to better align with the company’s strategic focus, particularly in anticipation of the planned separation of its automotive business. Alongside this announcement, SKF also released restated financial information for 2024 and 2025, offering insights into how the new segment reporting would have looked historically.

New Segment Structure

SKF’s new reporting framework will categorize its operations into three primary business segments: Bearing Solutions, Specialized Industrial Solutions (SIS), and an Automotive segment. The SIS will encompass various strategic core business operations such as Aerospace, Lubrication Lifetime Solutions, Sealing Solutions, and Magnetic Solutions. This structure allows SKF to enhance operational clarity and financial transparency.

Notably, the newly defined Automotive segment will maintain its central costs separately, which will enhance the clarity of financial reporting for this segment. Previously, these costs were integrated with the business segments, but they will now be distinctly allocated from 2026 onwards, ensuring a clearer view of the automotive division’s financial health and operational performance.

Restated Financial Figures

To facilitate comparability in the new reporting format, SKF has published restated financial figures for 2024 and 2025. This adjustment provides stakeholders with a clearer perspective on the company’s financial performance under the upcoming segment structure. As part of these changes, the automotive sealing business will be transitioned from the Automotive segment to SIS, although operational responsibility has always remained within the seals business. This shift is purely a financial reporting modification and does not affect the operational aspects or management of the business unit.

The restated financial information reflects all related business transfers, including production capacities and logistics centers, ensuring that the reporting aligns with the expected operational landscape at the time of the automotive business’s separation. SKF aims to list its automotive division on Nasdaq Stockholm by the end of 2026, pending the approval of its Board of Directors and shareholders.

Revised Customer Industry Breakdown

While the new segment reporting structure incorporates adjustments, it does not alter the customer industry breakdown for the Automotive segment. However, for the Industrial operations combining Bearing Solutions and SIS, a revised classification system is being introduced, featuring seven key industry groups: 1) Aftermarket service, 2) Industrial mobility and defense, 3) High-speed machinery and electrical, 4) Heavy industries, 5) Sustainable food supply, 6) Advanced technology, and 7) Other OEM. This refined categorization is designed to better reflect the diverse applications and markets that SKF services.

Going forward, these new reporting structures and altered financial figures will be adopted in SKF's external financial reporting beginning with the first quarter of 2026. For further details, interested parties can access additional information and the corresponding documents on their official investor relations page.

In conclusion, SKF’s introduction of a new segment structure and the release of restated figures underscore its strategic initiatives aimed at growth and transparency. With the automotive business poised for separation, these developments are crucial for stakeholders as they prepare for the upcoming changes in the company’s operational landscape.