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The SKF Group First-quarter result 2003 PowerPoint PPT Presentation


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The SKF Group First-quarter result 2003. Sune Carlsson, President and CEO. SKF Group. Result for the first quarter. MSEK 20032002. Net sales 10 541 10 665 -1.2% Operating profit 944 903 +4.5% Operating margin9.0%8.5% Profit before taxes 802 761 +5.4%

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The SKF Group First-quarter result 2003

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The skf group first quarter result 2003

The SKF Group

First-quarter result 2003

Sune Carlsson, President and CEO


Result for the first quarter

SKF Group

Result for the first quarter

MSEK 20032002

Net sales10 541 10 665 -1.2%

Operating profit944 903 +4.5%

Operating margin9.0%8.5%

Profit before taxes 802 761 +5.4%

Net profit 562529

Earnings per share, SEK4.94 4.64 +6.5%

Cash flow* 47 -112

*after investments before financing


Profit before taxes excl non recurring items

SKF Group

Profit before taxesexcl. non-recurring items

MSEK

2003

2002

1999

2001

2000


Earnings per share

SKF Group

Earnings per share

SEK

2003

1999

2000

2002

2001


Net sales

SKF Group

Net sales

MSEK

2001

2003

1999

2002

2000


Sales in local currency

SKF Group

Sales in local currency

% change y-o-y

2003

2000

2002

2001


Net sales development per quarter

SKF Group

Net sales development per quarter

2003

2001

2002

Percent

y-o-y

Q1

Net sales


Operating margin excl non recurring items

SKF Group

Operating marginexcl. non-recurring items

%

1999

2002

2003

2000

2001


Operating margin per division

SKF Group

Operating margin per division

%

Industrial

Service

Electrical

Automotive

Aero andSteel

2003

2002

2000

2001


Accumulated change in the number of employees

SKF Group

Accumulated change in the number of employees

Employees

acquisitions

capacity adjustment

and restructuring

2000

2003

2001

2002


Cash flow after investment s before financing

SKF Group

Cash flow after investments before financing

MSEK

2003

2002

2001

1999

2000


Inventories as of annual sales

SKF Group

Inventories as % of annual sales

%

Target: 20 %

2003

1999

2000

2001

2002


Additions to tangible assets

SKF Group

Additions to tangible assets

Depreciation according to plan

MSEK

March

2003

2002

1999

2000

2001


Net cash

SKF Group

Mkr

Net cash*

1999

2003

2000

2001

2002

*Short-term financial assets - Loans


Volume trend bearings

SKF Group

Volume trend, bearings

Externalsales 2002

April 2003

Jan 2003

Europe

55 %

26 %

North America

Asia Pacific

13 %

Latin America

4 %


Volume trend bearings1

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


Outlook april 2003

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.


Skf group target

SKF GroupTarget

  • 10 % operating margin level

  • 10 BSEK additional annual net sales


Skf group focused areas

SKF Group Focused areas

  • Drive operational excellence

  • Grow new markets and segments

  • Introduce new products and solutions

  • Develop our people and competencies


The skf group first quarter result 2003

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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