Report for The First Three Quarters of 2003

10/23/2003 7:36 AM EST

Report for the First Three Quarters of 2003

· Sales during the first three quarters increased by 3% and
amounted to SEK 14,788 (14,404) million. Higher prices accounted for 5%,
while lower volumes of in particular steel slabs resulted in a reduction
of 2%.

· Profit after financial items for the first three quarters
amounted to SEK 101 (79) million. Profit for the first three quarters
thereby increased by SEK 325 million and amounted to SEK 881 (556)
million.

· Profit after tax for the first three quarters amounted to SEK
593 (382) million, equal to earnings per share of SEK 5.90 (3.80).

· Deliveries of extra and ultra high-strength sheet and quenched
steels during the third quarter increased by 9% over last year and, thus
far this year, have increased by 15%.

· Cash flow for the third quarter improved and amounted to SEK
189 (-31) million.

Stockholm, 23 October 2003

Anders Ullberg

Review report

We have subjected this interim report to a general review in accordance
with the recommendation issued by the Swedish Institute of Authorised
Public Accountants.

A general review is significantly more limited than an audit.

Nothing has arisen to indicate that the interim report fails to fulfil
the requirements set forth in the Swedish Securities Exchange and
Clearing Operations Act and the Swedish Annual Reports Act.

Stockholm, 23 October 2003

PricewaterhouseCoopers AB

Göran Tidström
Authorised Public Accountant


The results for 2003 will be published on 11 February 2004.