AB SKF announced earnings results for the fourth quarter and full year of 2012. For the quarter, the company reported net sales of SEK 14,984 million compared to SEK 16,257 million a year ago. Operating profit was SEK 1,227 million compared to SEK 2,006 million a year ago. Profit before taxes was SEK 995 million compared to SEK 1,823 million a year ago. Net profit was SEK 1,011 million compared to SEK 1,205 million a year ago. Basic earnings per share were SEK 2.16 compared to SEK 2.57 a year ago. The operating profit in the fourth quarter was affected by one-time costs of around SEK 300 million, of which SEK 200 million was for restructuring and SEK 100 million for impairments and asset write-downs.

For the full year, the company reported net sales of SEK 64,575 million compared to SEK 66,216 million a year ago. Operating profit was SEK 7,333 million compared to SEK 9,612 million a year ago. Profit before taxes was SEK 6,511 million compared to SEK 8,932 million a year ago. Net profit was SEK 4,878 million compared to SEK 6,224 million a year ago. Basic earnings per share were SEK 10.37 compared to SEK 13.29 a year ago.

For the fourth quarter of 2012, the company reported impairments and asset write-downs of SEK 100 million.

The Board of AB SKF has decided to propose an unchanged dividend of SEK 5.50 per share to the Annual General Meeting.