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The SKF Group First-quarter result 2003

The SKF Group First-quarter result 2003. Sune Carlsson, President and CEO. SKF Group. Result for the first quarter. MSEK 2003 2002 . Net sales 10 541 10 665 -1.2% Operating profit 944 903 +4.5% Operating margin 9.0% 8.5% Profit before taxes 802 761 +5.4%

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The SKF Group First-quarter result 2003

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  1. The SKF Group First-quarter result 2003 Sune Carlsson, President and CEO

  2. SKF Group Result for the first quarter MSEK 2003 2002 Net sales10 541 10 665 -1.2% Operating profit 944 903 +4.5% Operating margin 9.0% 8.5% Profit before taxes 802 761 +5.4% Net profit 562529 Earnings per share, SEK 4.94 4.64 +6.5% Cash flow* 47 -112 *after investments before financing

  3. SKF Group Profit before taxesexcl. non-recurring items MSEK 2003 2002 1999 2001 2000

  4. SKF Group Earnings per share SEK 2003 1999 2000 2002 2001

  5. SKF Group Net sales MSEK 2001 2003 1999 2002 2000

  6. SKF Group Sales in local currency % change y-o-y 2003 2000 2002 2001

  7. SKF Group Net sales development per quarter 2003 2001 2002 Percent y-o-y Q1 Net sales

  8. SKF Group Operating marginexcl. non-recurring items % 1999 2002 2003 2000 2001

  9. SKF Group Operating margin per division % Industrial Service Electrical Automotive Aero andSteel 2003 2002 2000 2001

  10. SKF Group Accumulated change in the number of employees Employees acquisitions capacity adjustment and restructuring 2000 2003 2001 2002

  11. SKF Group Cash flow after investments before financing MSEK 2003 2002 2001 1999 2000

  12. SKF Group Inventories as % of annual sales % Target: 20 % 2003 1999 2000 2001 2002

  13. SKF Group Additions to tangible assets Depreciation according to plan MSEK March 2003 2002 1999 2000 2001

  14. SKF Group Mkr Net cash* 1999 2003 2000 2001 2002 *Short-term financial assets - Loans

  15. SKF Group Volume trend, bearings Externalsales 2002 April 2003 Jan 2003 Europe 55 % 26 % North America Asia Pacific 13 % Latin America 4 %

  16. SKF Group Volume trend, bearings Externalsales 2002 April 2003 Jan 2003 Industrial 23 Automotive 32 4 Electrical 32 Service Aero (excl.forging and steel) 5

  17. SKF Group Outlook April 2003 The overall market demand for the Group's products and services is expected to remain relatively unchanged in the second quarter. Manufacturing levels which were higher thansales in the first quarter will be adjusteddownwards during the second quarter.

  18. SKF GroupTarget • 10 % operating margin level • 10 BSEK additional annual net sales

  19. SKF Group Focused areas • Drive operational excellence • Grow new markets and segments • Introduce new products and solutions • Develop our people and competencies

  20. SKF Group Cautionary Statement This report contains forward-looking statements that are based on the current expectations of the management of SKF. Although management believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially form those implied in the forward-looking statements as a result of, among other factors, changes in economic, market and competitive conditions, changes in the regulatory environment and other government actions, fluctuations in exchange rates and other factors mentioned in SKF's latest 20-F report on file with the SEC (United States Securities and Exchange Commission) under "Forward-Looking Statements" and "Risk Factors".

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