SKF Reports Strong Profit and Sales Development in the Third Quarter

SKF, a leading producer of bearings, seals and related products, has reported its financial results for the third quarter of 2004. For the third quarter, SKF has reported a 14.1 percent increase in sales, measured in local currencies, compared to the same period in 2003. The operating margin for the quarter was 10.6 percent (8.4). The price/mix increased by 2.3 percent. Cash flow continued to be strong.

GOTHENBURG, Sweden — SKF, a leading producer of bearings, seals and related products, has reported its financial results for the third quarter of 2004. For the third quarter, SKF has reported a 14.1 percent increase in sales, measured in local currencies, compared to the same period in 2003. The operating margin for the quarter was 10.6 percent (8.4). The price/mix increased by 2.3 percent. Cash flow continued to be strong.

Net sales for the SKF Group in the third quarter, calculated in local currencies, were 14.1 percent above the sales for the third quarter last year. The company said sales were significantly higher in Europe, North America, Asia and Latin America.

The manufacturing level for the third quarter 2004 was unchanged compared to the previous quarter, but significantly higher than for the same quarter the previous year. The company said market demand for its products and services is expected to continue to be higher in Europe, North America, Asia and Latin America.

The manufacturing level during the fourth quarter will be unchanged compared to the third quarter, but higher than for the same quarter the previous year.

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