Sandvik AB - Report on the third quarter 2003

SANDVIK AB Report on the third quarter 2003 Continued growth and improved earnings in the third quarter "Order intake and invoiced sales increased in the third quarter for comparable units, in a continued weak business climate. Operating profit rose 8% despite negative currency effects. Profit increased for Sandvik Tooling and Sandvik Mining and Construction but declined for Sandvik Materials Technology. The business climate remains uncertain and we do not expect any significant change in demand in the near future," says Sandvik President and Chief Executive Officer Lars Pettersson. Key figures Q3 Q3 Change Q1-3 Q1-3 Change SEK M 2003 2002 % 2003 2002 % Order 11 550 11 850 -3 1) 37 380 37 550 0 1) intake Invoiced 11 520 11 730 -2 2) 35 930 36 040 0 2) sales Operating 1 304 1 213 +8 4 162 4 248 -2 profit % 11 10 12 12 Profit 1 103 1 036 +6 3 575 3 754 -5 after financial items % 10 9 10 10 Net profit 788 758 +4 2 530 2 496 +1 % 7 6 7 7 Earnings 3.15 3.00 13.90 3) 14.20 3) per share, SEK Return on 15.3 14.8 capital employed, % 3) 1) +2 % and +3 % at fixed exchange rates for comparable units. 2) +2 % and +3 % at fixed exchange rates for comparable units. 3) Rolling 12 months. For additional information, please call +46 (0)26-26 10 01. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/10/30/20031030BIT00020/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/10/30/20031030BIT00020/wkr0002.pdf The full report

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Sandvik Group Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining and construction industries; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2016, the Group had approximately 43,000 employees and sales of 82 billion SEK in more than 150 countries within continuing operations.

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