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Brands & Portfolio 360

The portfolio lens — each brand's revenue, margin journey, integration and value-added mix across the SKF brand family, as the group sharpens into an industrial pure-play and spins out SKF Vertevo.

AB SKF (SKF Group) · FY2025 (Jan–Dec 2025, audited anchor)

World's largest bearing maker today — clear #1 in industrial bearings

37,271 employees · 90+ sites · 130 countries

▲ Executive read· the answer, then the moves

The portfolio is working — SEK 13.2 bn of brand EBITDA and 79% of the value plan banked — but 4 maturing brands (SEK 27.1 bn revenue) still hold blended margin back. Finish their integration to close the gap to a fully scaled portfolio, the highest-return work in the company.

4 of 4 headline metrics improving vs prior · still off target: Program Realization (rightsizing & WCM) 70.0% vs 100.0%, Adjusted Operating Margin 12.7% vs 17.0%, DSO (Days Sales Outstanding) 65d vs 60d

Do now — ranked by urgency

1
Finish integrating the 4 maturing brands to close the value gapAct now
Why it matters
Avg value capture is only 79% of plan; the unrealized balance is margin already in the strategy but not yet earned.
What's driving it
Avg value capture 79% of plan
4 brands maturing (SEK 27.1 bn revenue)
FYI
Maturing: condition monitoring, RecondOil, split-roller, SKF Vertevo
Brand EBITDA to date SEK 13.2 bn
See the programs plan →
2
Push RecondOil — lowest value capture at 55%Act now
Why it matters
RecondOil is the least-integrated brand on value capture; a 90-day plan on the gap is unrealized margin.
What's driving it
RecondOil value capture 55% · 70% integrated
0 maturing brand(s) with DSO above the as-scaled level
FYI
Status: In progress
EBITDA 5% margin → SEK 15 M
Open programs →
3
Blocker: Production Transfers / Footprint — Vertevo Carve-outAct now
Why it matters
Gates the program go-live (restated ledger, production-line transfers & the Q4 2026 Vertevo listing window).
What's driving it
due 2026-10-30 · Mitigating
Signal: Program blocker
FYI
Automotive's dependence on Industrial contract manufacturing must be cut before listing — the extra production-line transfers moved the window H1 → Q4 2026 (cost stays inside the envelope).
Owner: Separation PMO · Operations
Act →
4
IAC guidance BSEK −2.5 to −3.0 for 2026Watch
Why it matters
Keep separation spend inside the announced envelope; track footprint payback quarter by quarter.
What's driving it
Items affecting comparability
Signal: Alert
FYI
Separation plus Americas footprint consolidation front-load costs (Q2 2026 IAC −1,004, roughly half separation / half footprint).
Act →

📈 Industrial growth & aftermarketStep 6 of 7 · margin journey by segment◀ Cash 360 Separation & Re-rating ▶All journeys

🌐 Enterprise 360 modules· on Brands & Portfolio 360Browse all 31 views ▾

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↗ Where this connects — act / drill across

🧩Carve-out & Programs 360· deliver the in-flight carve-out & programs 🤝Portfolio & Capex 360· are the growth bets returning?🗂Org Roll-up 360· the segment's factories & P&L 💎Value Creation Plan· margin journey in the thesis

● LiveBuilt forPresident & CEO · Rickard Gustafson· where to grow & invest nextGroup CFO · Susanne Larsson· value capture & DSOBoard & Investors· is the portfolio strengthening

SKF is a portfolio of brands — the SKF master brand (since 1907), Lincoln & Alemite lubrication, Kaydon slewing & thin-section, PEER value bearings, Cooper split-roller, RecondOil circularity, the @ptitude / IMx / Axios condition-monitoring stack, and the SKF Vertevo automotive spin. This view shows, for each brand, where its margin started vs what it earns now — and flags the maturing brands where richer mix, faster cash and higher margin are still on the table.

Data backing: brand_cohort (acquired vs current EBITDA, DSO, value-added revenue, integration %, value capture)

Brand-led revenue

SEK 98.9 bn

9 brands (overlapping lenses)

Value-added rev

SEK 38.9 bn

across the portfolio

Brand EBITDA

SEK 13.2 bn

current run-rate

Avg value capture

79%

of plan banked

Fully scaled

5/9

integrated

Still maturing

SEK 27.1 bn

4 brands

The shift, in one line

SEK 13.2 bn of brand EBITDA, 79% of the value plan banked

Finishing the 4 maturing brands (condition monitoring, RecondOil, split-roller, SKF Vertevo) closes the gap to a fully scaled portfolio — the single highest-return work in the company.

Brand by brand

Acquired → today

Each card: how the margin has moved since the brand joined, how far integration has gone, and the next move.

SKF

since 1907 · SEK 65.6 bn revenue · SEK 24.9 bn value-added

Integrated

EBITDA

8% → SEK 10.6 bn

DSO

70→62d

Value capture

90%

Integration95%

Next: Fully scaled. Harvest it — attach services & aftermarket into its installed base and protect the margin gains.

PEER

since 2008 · SEK 900 M revenue · SEK 150 M value-added

Integrated

EBITDA

10% → SEK 120 M

DSO

55→50d

Value capture

85%

Integration92%

Next: Fully scaled. Harvest it — attach services & aftermarket into its installed base and protect the margin gains.

Lincoln

since 2010 · SEK 2.5 bn revenue · SEK 1.2 bn value-added

Integrated

EBITDA

14% → SEK 450 M

DSO

60→52d

Value capture

95%

Integration100%

Next: Fully scaled. Harvest it — attach services & aftermarket into its installed base and protect the margin gains.

Alemite

since 2010 · SEK 600 M revenue · SEK 300 M value-added

Integrated

EBITDA

12% → SEK 90 M

DSO

58→52d

Value capture

92%

Integration100%

Next: Fully scaled. Harvest it — attach services & aftermarket into its installed base and protect the margin gains.

Kaydon

since 2013 · SEK 2.2 bn revenue · SEK 500 M value-added

Integrated

EBITDA

16% → SEK 380 M

DSO

65→58d

Value capture

88%

Integration96%

Next: Fully scaled. Harvest it — attach services & aftermarket into its installed base and protect the margin gains.

@ptitude / IMx / Axios (condition monitoring)

since 2015 · SEK 2.9 bn revenue · SEK 2.9 bn value-added

In progress

EBITDA

18% → SEK 610 M

DSO

50→44d

Value capture

80%

Integration88%

Next: Fully scaled. Harvest it — attach services & aftermarket into its installed base and protect the margin gains.

RecondOil

since 2018 · SEK 150 M revenue · SEK 120 M value-added

In progress

EBITDA

5% → SEK 15 M

DSO

45→40d

Value capture

55%

Integration70%

Next: Recover value capture — 55% of plan banked. Put a 90-day plan on the gap; this is unrealized margin.

Cooper (split-roller)

since 2020 · SEK 450 M revenue · SEK 160 M value-added

In progress

EBITDA

15% → SEK 80 M

DSO

62→56d

Value capture

70%

Integration84%

Next: Recover value capture — 70% of plan banked. Put a 90-day plan on the gap; this is unrealized margin.

SKF Vertevo

since 2026 · SEK 23.6 bn revenue · SEK 8.6 bn value-added

In progress

EBITDA

4% → SEK 896 M

DSO

78→75d

Value capture

60%

Integration78%

Next: Recover value capture — 60% of plan banked. Put a 90-day plan on the gap; this is unrealized margin.

Rack & stack

Which brand is performing best?

Each brand ranked within the set on five KPIs (direction per metric), then a composite Overall Rank from summed rank points — the dashboard's RANKX leaderboard. Top & bottom highlighted.

Overall	Unit	Revenue↑ better	EBITDA MSEK↑ better	Value-added↑ better	Value capture↑ better	DSO gain↑ better	Rank pts
1	SKF	SEK 65.6 bn#1	SEK 10.6 bn#1	SEK 24.9 bn#1	90%#3	8d#1	7
2	Lincoln	SEK 2.5 bn#4	SEK 450 M#4	SEK 1.2 bn#4	95%#1	8d#1	14
3	condition monitoring	SEK 2.9 bn#3	SEK 610 M#3	SEK 2.9 bn#3	80%#6	6d#4	19
4	Kaydon	SEK 2.2 bn#5	SEK 380 M#5	SEK 500 M#5	88%#4	7d#3	22
5	SKF Vertevo	SEK 23.6 bn#2	SEK 896 M#2	SEK 8.6 bn#2	60%#8	3d#9	23
6	Alemite	SEK 600 M#7	SEK 90 M#7	SEK 300 M#6	92%#2	6d#4	26
7	PEER	SEK 900 M#6	SEK 120 M#6	SEK 150 M#8	85%#5	5d#7	32
8	split-roller	SEK 450 M#8	SEK 80 M#8	SEK 160 M#7	70%#7	6d#4	34
9	RecondOil	SEK 150 M#9	SEK 15 M#9	SEK 120 M#9	55%#9	5d#7	43

Higher EBITDA, revenue, value-added revenue and value capture rank better; DSO gain = days of receivables improvement since the brand scaled (more = better). Composite rank points are the sum of the five per-KPI ranks (lower = better).

The full portfolio

Every brand, one row

Acquired → current across EBITDA, DSO, integration and value-added mix.

Brand	Since	Revenue	Value-added rev	EBITDA	DSO	Integrated	Value capture	Status
SKF	1907	SEK 65.6 bn	SEK 24.9 bn	8% → SEK 10.6 bn	70→62d	95%	90%	Integrated
PEER	2008	SEK 900 M	SEK 150 M	10% → SEK 120 M	55→50d	92%	85%	Integrated
Lincoln	2010	SEK 2.5 bn	SEK 1.2 bn	14% → SEK 450 M	60→52d	100%	95%	Integrated
Alemite	2010	SEK 600 M	SEK 300 M	12% → SEK 90 M	58→52d	100%	92%	Integrated
Kaydon	2013	SEK 2.2 bn	SEK 500 M	16% → SEK 380 M	65→58d	96%	88%	Integrated
@ptitude / IMx / Axios (condition monitoring)	2015	SEK 2.9 bn	SEK 2.9 bn	18% → SEK 610 M	50→44d	88%	80%	In progress
RecondOil	2018	SEK 150 M	SEK 120 M	5% → SEK 15 M	45→40d	70%	55%	In progress
Cooper (split-roller)	2020	SEK 450 M	SEK 160 M	15% → SEK 80 M	62→56d	84%	70%	In progress
SKF Vertevo	2026	SEK 23.6 bn	SEK 8.6 bn	4% → SEK 896 M	78→75d	78%	60%	In progress