1. Sune Carlsson, President and CEO
The SKF Group
First-quarter result 2003
Sune Carlsson, President and CEO
Good Morning Ladies and Gentlemen
(Testing the mike: Can you hear me at the back?)
As you ve just heard, our presentation today will be focussing on SKFs Automotive business which is Roughly 1/3 of the SKF business. My job here is to outline for you SKF's strategies in general, and I would also like to fill in a little back ground and give you some facts and figures for the whole company.

2. Result for the first quarter
SKF Group
Result for the first quarter
MSEK
Net sales %
Operating profit %
Operating margin 9.0% 8.5%
Profit before taxes %
Net profit
Earnings per share, SEK %
Cash flow*
*after investments before financing

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

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

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

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

7. Net sales development per quarter
SKF Group
Net sales development per quarter
Percent
y-o-y
2001
2002
2003 Q1 Q2 Q3 Q4
0.3
0.4
1.0
1.4
1.9
2.0
0.7
1.1
- 2.7
- 3.2
- 3.8
- 7.3
-0.5
3.3
3.9
6.2
1.6
2.1
1.5
1.2
1.7
- 0.4
- 1.2
- 0.7
- 4.4
2.8
6.5
7.0
8.1
7.7
11.1
8.9
6.7
2.2
-3.7
-8.3
-10.8
-9.3
11.0
10.7
6.0
- 2.2
-0.9
-1.8
-3.8
-1.2
Structure
Volume
Price / Mix
Sales in local currency
Currency Q1
Net sales

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

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

10. 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

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

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

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

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

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

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

17. Outlook April 2003 SKF Group
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 than sales in the first quarter will be adjusted downwards during the second quarter.

18. SKF Group Target
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".