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:
Marita Björk, Investor Relations,
tel: +46-31-3371994, +46-705-181994,
e-mail: marita.bjork@skf.com
Source: SKF Group
