1. The SKF Group
Nine-month result 2003
Tom Johnstone
President and CEO

2. SKF Group
Key issues Q3, 2003
Solid financial performance - good operating margin - price/mix up - strong cash flow - inventories down
Steps taken to support the long-term target

3. SKF Group Third quarter 2003 MSEK 2003 2002
Net sales %
Operating profit %
Operating margin 8.4% 9.5%
Profit before taxes %
Net profit
Earnings per share, SEK %
Cash flow*
*after investments before financing

4. SKF Group Nine-month result MSEK 2003 2002
Net sales %
Operating profit %
Operating margin 8.8% 9.1%
Profit before taxes %
Net profit
Earnings per share, SEK %
Cash flow*
*after investments before financing

5. SKF Group
Profit before taxes
MSEK
2001
2002
2003

6. SKF Group
Earnings per share
SEK
2001
2002
2003

7. SKF Group
Net sales
MSEK
2001
2002
2003

8. Net sales development per quarter
SKF Group
Net sales development per quarter
Percent
y-o-y
2001
2002
2003 Q2 Q3 Q4 Q1
0.4
1.0
1.4
1.9
2.0
0.7
0.1
0.2
- 2.7
- 3.2
- 3.8
- 7.3
-0.5
3.3
3.9
6.2
3.2
4.2
1.6
2.1
1.5
1.2
1.7
0.6
- 0.4
- 1.2
- 0.7
- 4.4
2.8
6.5
7.0
8.1
5.6
11.1
8.9
6.7
2.2
-3.7
-8.3
-10.8
-9.3
-8.6
-5.5
10.7
7.7
6.0
- 2.2
-0.9
-1.8
-3.8
-1.2
-4.7
Structure
Volume
Price / Mix
Sales in local currency
Currency
Net sales

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

10. SKF Group
Operating margin %
2001
2002
2003

11. Operating margin per division
SKF Group
Operating margin per division %
Service
Industrial
Electrical
Automotive
Aero and Steel
2001
2002
2003

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

13. Cash flow after investments before financing
SKF Group
Cash flow after investments before financing
MSEK
2001
2002
2003

14. Inventories as % of annual sales Target 20%
SKF Group
Inventories as % of annual sales Target 20% %
2001
2002
2003

15. Additions to tangible assets
SKF Group
Additions to tangible assets
Depreciation according to plan
MSEK
YTD Sept
2003
2001
2002

16. * Short-term financial assets - Loans
SKF Group
Net cash*
MSEK
Dividend paid:
2003 Q2, MSEK 911
2002 Q2, MSEK 683
2001 Q2, MSEK 598
2001
2002
2003
* Short-term financial assets - Loans

17. Target 10 % operating margin level
SKF Group
Target
10 % operating margin level
10 BSEK additional annual net sales To be reached within the 2005/2006 time period

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

19. SKF Group Volume trend External sales 2002 July 2003 Oct 2003 Europe
55%
North America
26%
Asia Pacific
13%
Latin America 4%
Total

20. SKF Group Volume trend External sales 2002 July 2003 Oct 2003
Industrial
23%
Automotive
32%
Electrical 4%
Service
32%
Aerospace 5%

21. SKF Group Outlook October 2003
The market demand for the Group's products and services is expected to slightly improve during the fourth quarter, with demand in Europe unchanged, higher in North America and significantly higher in Asia.
Manufacturing will be increased in line with market demand to maintain a high service level.

22. 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 from 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".