SKF Year-end report 2003

SKF reports increased sales, measured in local currencies, compared to
2002 both for the fourth quarter and for the full year. The operating
margin, excluding restructuring expenses and impairments of MSEK 487,
reached 10.3% for the fourth quarter and 9.2% for the full year. Cash
flow was also strong both in the fourth quarter and for the full year.
SKF outperformed the market in a number of customer segments during the
year. The Board proposes a dividend increase of 25% to SEK 10.00.

* The SKF Group reports a profit before taxes for the fourth quarter
  2003 of MSEK 479 (979), and, excluding restructuring expenses and
  impairments, MSEK 966. The profit for the full year 2003 was MSEK 2 793
  (3 542), and, excluding restructuring expenses and impairments in the
  fourth quarter, MSEK 3 280.

* Net profit for the fourth quarter 2003 was MSEK 405 (719). Net
  profit for the full year 2003 was MSEK 2 039 (2 466).

* Earnings per share for the fourth quarter 2003 were SEK 3.56
  (6.34). Earnings per share for the full year 2003 were SEK 17.91
  (21.67).

* Net sales for the fourth quarter 2003 was MSEK 10 245 (10 665). Net
  sales for the full year 2003 was MSEK 41 377 (42 430).

Further information can be obtained from:
Lars G Malmer, Group Communication, tel: +46-31-3371541, +46-705-371541,
e-mail: lars.g.malmer@skf.com
Marita Bjork, Investor Relations, tel: +46-31-3371994, +46-705-181994, 
e-mail: marita.bjork@skf.com

Aktiebolaget SKF, SE-415 50 Goteborg, Sweden, company reg.no. 556007-
3495, tel: +46-31-3371000, fax: +46-31-3372832, http://www.skf.com/