Slide 1: Q4 2025 quarterly presentation
Alt 4 quarterly presentation 30 January 2026 Q4 2025
Slide 2: Ask a question / Legal disclaimer
Ask a question Webcast Telephone Use question tab Press *1 above the slides Legal disclaimer This presentation contains forward-looking statements that reflect SKF’s current expectations on future events and financial and operational development. Words such as “intend”, “anticipate”, “expect”, “may”
Slide 3: Laying the foundation for long-term value creation
Q4 2025 | STRATEGIC HIGHLIGHTS Laying the foundation for long-term value creation • Improved adjusted operating margin y-o-y despite strong Organic growth and adjusted operating margin headwind from currency • Flat organic growth in challenging markets 10% 14% • Organic growth in Industrial 12% 5% •
Slide 4: FY 2025 summary: Resilient margin in a challenging market
2024 summary: Solid margin in a challenging FY 2025 | SUMMARY market margin in a challenging market Resilient Net sales, BSEK Adjusted operating margin, % 91.6 12.7 Net cash flow from operations, Proposed dividend per share BSEK 8.4 7.75 SKF Fourth-quarter report 2025 SKF Fourth-quarter report 20244
Slide 5: Continued resilient and improved margin
Q4 2025 | SUMMARY Continued resilient and improved margin Net sales, BSEK Adjusted operating margin, % Net cash flow from operations, BSEK Organic growth was flat, year-over-year, Adjusted operating margin increased 0.7 ppt Net cash flow from operations decreased driven by weak Automotive demand off
Slide 6: Challenging market conditions remained
Q4 2025 | SALES BY REGION Challenging market conditions remained Region % of global net sales Net sales, Organic growth, Market highlights BSEK % • Continued organic growth in Industrial driven by EMEA 42% 9.3 -0.1% Aerospace and Magnetics • Sequentially softer market in Automotive • Continued organ
Slide 7: Industrial business
Share of Group net sales Share of Group adjusted operating profit Q4 2025 | SEGMENT OVERVIEW Industrial business 73% 96% Organic growth 2.3% Net sales and adjusted operating margin • Similar demand environment sequentially, but tougher comparison period y-o-y MSEK • Solid price/mix actions, particul
Slide 8: Automotive business
Share of Group net sales Share of Group adjusted operating profit Q4 2025 | SEGMENT OVERVIEW Automotive business 27% 4% Organic growth -5.8% Net sales and adjusted operating margin • Sequentially softer market conditions, particularly in EMEA and Americas MSEK • Strong sales in China last year. EV c
Slide 9: Adjusting the scope of contract manufacturing to improve performance in both businesses
Q4 2025 | AUTOMOTIVE SEPARATION UPDATE Adjusting the scope of contract manufacturing to improve performance in both businesses Benefits Timing • Faster reduction of contract manufacturing volumes from point of departure to mid-term • Higher overall capacity utilization in Industrial • Improved and i
Slide 10: Value creation post separation
Value creation post separation Industrial Automotive long-term targets over a business cycle long-term indicative objectives post separation post separation “Above market over SKF Group recent average 4% 1 above market p.p. over a business cycle a business cycle” Pre-spin figures last years, 2020-20
Slide 11: Financials
Financials Susanne Larsson, CFO SKF Fourth-quarter report 2025 11
Slide 12: Financial summary
Q4 2025 FINANCIALS Financial summary MSEK unless otherwise stated Q4 2024 Q4 2025 Change IAC breakdown (MSEK) Q4 2025 Net sales 24,725 21,969 -11.1% Industrial footprint optimization -455 Organic growth, % -3.1 0.0 Automotive separation -508 Gross profit 6,861 5,654 Other -62 Gross margin, % 27.7 25
Slide 13: Bridge analysis
MSEK ~750 Q4 2025 | FINANCIALS Rightsizing annual run-rate savings Bridge analysis as of Q4 2025 Q4 2024 Organic1) Cost Currency Structure Q4 2025 Net sales, MSEK 24,725 -4 -2,617 -135 21,969 Growth, % 0.0 -10.6 -0.5 -11.1 Adjusted operating profit, MSEK 2,735 113 383 -661 18 2,588 Adjusted operatin
Slide 14: Cash flow
Q4 2025 | FINANCIALS Cash flow Net cash flow from operating activities, MSEK Net cash flow from operating activities MSEK MSEK 1 441 2 758 4 500 16 000 963 4 000 14 000 3 500 12 000 - 525 3 000 10 000 1 563 2 500 8 000 2 000 - 685 6 000 1 500 1 000 4 000 500 2 000 0 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Oper
Slide 15: Balance sheet and return on capital
Q4 2025 | FINANCIALS Balance sheet and return on capital Net debt, and Net debt/equity1) Adjusted ROCE, 12 months rolling MSEK 12 000 50% 18% 14,3% 16% 10 000 40% 14% 8 000 30% 12% 6 000 10% 20% 8% 4 000 6% 2 000 10% 4% 0 0% 2% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 0% 24 25 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Financial
Slide 16: Outlook and guidance
Q4 2025 Outlook and guidance Outlook • Q1 2026: We expect market demand in Q1 to remain at similar levels as in Q4. Consequently, we expect organic sales to strengthen somewhat in Q1, year-over-year supported by more favourable comparables Guidance Q1 2026 • Currency impact on the operating profit:
Slide 17: Continued resilient and improved margin
Q4 2025 Continued resilient and improved margin 01 02 03 04 Continued challenging Margin resilience Automotive separation New strategy and markets financial targets Persistent market weakness Robust cost management Plan to list during Q4 2026, Unlocking long-term value and geopolitical uncertainty a
Slide 18: Q&A
Q&A
Slide 19: Slide 19