SKF takes one-off costs in fourth quarter results

SKF today announced they will take one-off costs of around SEK 100 million in the fourth quarter of 2011. Around SEK 40 million are related to impairment of assets and have no impact on cash flow. The remaining costs are related to various restructuring activities.

Approximately SEK 60 million of the total will affect the Industrial Division and most of the balance will affect the Service Division.

Gothenburg, 12 January, 2012

Aktiebolaget SKF

(publ)

AB SKF is required to disclose the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 11.00 CET on 12 January, 2012.

For further information, please contact:

PRESS: Rebecca Janzon, Global Press Manager,
tel: +46 31-337 2400, mobile: +46 727-173880, e-mail: rebecca.janzon@skf.com

INVESTOR RELATIONS: Marita Björk, Head of Investor Relations
tel: +46 31-337 1994, mobile: +46 705-181994, e-mail: marita.bjork@skf.com

SKF is a leading global supplier of bearings , seals , mechatronics , lubrication systems , and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has 15,000 distributor locations worldwide. Annual sales in 2010 were SEK 61,029 million and the number of employees was 44,742. www.skf.com

About Us

SKF is a leading global supplier in the areas of bearings, seals, mechatronics, services and lubrication systems. The Group’s service offer includes technical support, maintenance services, engineering consultancy and training.

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