0
21 April 2009

The SKF Group
First-quarter results 2009
Tom Johnstone, President and CEO

Highlights in the first quarter 2009 2
SKF
• gained an order from CSR Zhuzhou Electric
Locomotive Co., Ltd. ZELC. 500 electric
locomotives, for Chinese railways, will be
equipped with SKF axleboxes and drive
system bearings. Order value: EUR 14 m.
Photo: CSR Zhuzhou Electric Locomotive
• won a new contract for the supply of
tapered roller bearings to Guangdong
Fuwa Engineering Manufacturing Co Ltd.
Order value: USD 14 m.
21 April 2009

First quarter 2009 3
SEKm 2009 2008
Net sales 14,849 15,596
Operating profit 768 2,040
Operating margin 5.2 13.1
Profit before taxes 531 1,924
Net profit 394 1,296
Basic earnings per share, SEK 0.86 2.77
Cash flow after investments before
financial items 523 -131
21 April 2009

Growth in local currency 4
Long-term target level: 6-8% per annum
% y-o-y
15
13.2
10 7.1
5
- 18.4
0
-5
-10
-15
-20
2007 2008 YTD March
2009
Acquisitions/Divestments
Organic growth
21 April 2009

Sales in local currencies (excl. structural changes) 5
% change y-o-y
12
8
4
0
-4
-8
-12
-16
-20
2007 2008 2009
21 April 2009

Sales volume 6
% change y-o-y
10
5
0
-5
-10
-15
-20
-25
-30
2007 2008 2009
21 April 2009

Components in net sales 7
2007 2008 2009
Percent y-o-y Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Volume 7.9 6.9 9.0 6.3 4.9 6.2 2.7 -13.0 -26.9
Structure 4.0 4.6 3.7 1.0 1.0 1.3 0.5 2.4 1.4
Price / Mix 1.8 2.7 2.0 3.2 3.8 4.0 6.4 8.5 7.1
Sales in local 13.7 14.2 14.7 10.5 9.7 11.5 9.6 -2.1 -18.4
currency
Currency -5.6 -2.3 -1.9 -2.0 -1.2 -4.1 -0.9 10.3 13.6
Net sales 8.1 11.9 12.8 8.5 8.5 7.4 8.7 8.2 -4.8
21 April 2009

Operating margin 8
Long-term target level: 12%
%
13.3*
14 12.7*
12 12.9
12.2
10
8
6.4*
6
4 5.2
2
0
2007 2008 YTD March
2009
Restructuring and one-time items
21 April 2009 * Excluding restructuring and one-time items

Operating margin 9
Long-term target level: 12%
%
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
2007 2008 2009
21 April 2009

Operating margin per division 10
%
20
15
Service
10
Industrial
5
0
-5
Automotive
-10
-15
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2007 2008 2009
Excluding one-off items (eg. restructuring,
impairments, capital gains)
21 April 2009

Activities to adapt to lower demand 11
• Restructuring/impairment programmes
People Costs charged to operating profit
- announced Q4 2008, around 2,500 SEK 340 m
- announced Q1 2009, around 500 SEK 175 m
3,000 SEK 515 m
At the end of March 2009, around 1,300 people had left
under the programmes.
• In total, around 2,600 people left the Group during H2 2008
and Q1 2009.
• Around 6,000 people in short-time working (Q1 2009).
21 April 2009

Inventories as % of annual sales 12
% Long-term target level: 18%
25
24
23
22 x excl. currency
effects
21
20
19
18
2007 2008 2009
Inventories versus Q4 2008, in local currencies,
21 April 2009 were reduced by around SEK 500 million.

Return on capital employed 13
Long-term target level: 24%
%
30
24.9 24.0
25
18.7
20
15
10
5
0
2007 2008 YTD March 2009
ROCE: Operating profit plus interest income, as a
percentage of twelve months average of total assets
less the average of non-interest bearing liabilities.
21 April 2009

Net debt 14
(Short-term financial assets minus loans and post-employment benefits)
SEKm
0
AB SKF,
-2 000
dividend paid (SEKm):
-4 000 2006 Q2 1,821
-6 000 2007 Q2 2,049
-8 000 2008 Q2 2,277
-10 000
Redemption (SEKm):
-12 000
2007 Q2 4,554
-14 000
2008 Q2 2,277
-16 000
-18 000
2007 2008 2009
21 April 2009

AB SKF, long-term debt structure 15
Amount in million Maturity
Euro Bond EUR 250 2010-06
SEK Bond SEK 1,500 2011-06
Term loan in euro EUR 150 2013-06
Euro Bond EUR 500 2013-12
Euro loan EUR 100 2016-06
Euro loan EUR 100 2014-03
21 April 2009

Cash flow, after investments before financial items 16
SEKm
1 400
1 200 Cash out from
1 000 acquisitions (SEKm):
800 2007 1,209
600 2008 1,284
400
200
0
-200
-400
-600
-800
2007 2008 2009
21 April 2009

April 2009: Outlook for the second quarter 2009 17
The demand for SKF products and services is expected to be
significantly lower in the second quarter compared to the second
quarter last year for the Group in total, for all the Divisions and
for all regions.
Compared to the first quarter, demand is expected to be slightly
lower for the SKF Group in total and lower in Europe, slightly
lower in North America and relatively unchanged in Asia and
Latin America. Demand is expected to be relatively unchanged
for the Automotive Division and slightly lower for both the
Industrial and Service Division.
The manufacturing level will be significantly lower year on year
and relatively unchanged compared to the first quarter.
21 April 2009

Volume trends 18
(based on current assumptions)
Net sales Daily volume trends for: Outlook Q2
2008 Q1 2009 Q2 2009 2009 vs 2008
Europe 56% ---
North America 17% ---
Asia Pacific 19% ---
Latin America 5% ---
Total ---
21 April 2009

Volume trend for main segment Q2 2009 19
(based on current assumptions)
Net sales 2008
5% Trucks
20% Industrial OEM, General+Special
23% Industrial distribution
12% Industrial OEM, Heavy+Off-highway
13% Cars
3% Electrical and two-wheeler
9% VSM
5% Aerospace
3% Railway
6% Energy
21 April 2009

Guidance for the second quarter 2009 20
• Tax level: around 30%
• Financial net for the second quarter:
SEK -220 million
• Exchange rates on operating profit versus 2008
Q2: SEK 300 million
Full year: SEK 1 billion
• Additions to PPE: Around SEK 2 billion for 2009
Guidance is approximate and based on current assumptions and exchange rates
21 April 2009

Key focus areas ahead 2009 21
• Profit and cash flow
- maintain positive price/mix
- drive operational efficiency and cost reduction
- reduce working capital and investments
• Adjustment of manufacturing output to new demand levels
- restructuring
- short-time working
• Growing segments and geographies
• Strengthening the platform/segment approach
• Competence development
SKF Care and Six Sigma as guiding lights
21 April 2009

SKF Care 22
Business Care Employee Care
14
12
10
8
6
4
2
0
2003 2004 2005 2006 2007 2008
Operating margin
BeyondZeroTM SKF Care
Environmental Care Community Care
21 April 2009

SKF Group Vision 23
To equip the world
with SKF knowledge
21 April 2009

Cautionary statement 24
This presentation contains forward-looking statements that are based on the
current expectations of the management of SKF.
Although management believes that the expectations reflected in such forward-
looking statements are reasonable, no assurance can be given that such
expectations will prove to have been correct. Accordingly, results could differ
materially from those implied in the forward-looking statements as a result of,
among other factors, changes in economic, market and competitive conditions,
changes in the regulatory environment and other government actions,
fluctuations in exchange rates and other factors mentioned in SKF's latest
annual report (available on www.skf.com) under the Administration Report;
"Most important factors influencing the financial results", "Financial risks" and
"Sensitivity analysis”.
21 April 2009

25
21 April 2009