Sandvik AB - Report on the fourth quarter and full year 2002

    SANDVIK AB - Report on the fourth quarter and full year 2002

*Fourth quarter:
-Invoicing, SEK 12,660 M, down 1% compared with year earlier
-Profit: SEK 1,309 M (1,149) after financial items, 10% of
 invoicing
*Full year 2002:
-Invoicing, SEK 48,700 M, unchanged level compared with year
 earlier
-Profit: SEK 5,063 M (5,606) after financial items, 10% of
 invoicing
*Cash flow: SEK 7,190 M before investments, up 41% compared
 with year earlier
*Two strategic company acquisitions within Sandvik Tooling,
 Walter and Valenite
*Proposals to Annual General Meeting 5 May 2003
-Dividend SEK 10.00, increase of 5%
-Buy-back: 10% of shares. Current authorization 10%

Key figures              Q4      Q4  Change      Full-    Full-  Chang 
                                                  year     year      e
SEK M                  2002    2001       %       2002     2001      % 
Order intake         12 680  11 350     +12  1)     50   47 900     +5 1)
                                                   230
Invoiced sales       12 660  12 780      -1  2)     48   48 900      0 2)
                                                   700
Operating profit      1 523   1 278     +19  3)  5 771    6 103     -5 3)
  %                      12      10                 12       12        
Profit after          1 309   1 149     +14  3)  5 063    5 606    -10 3)
financial items
  %                      10       9                 10       11        
Net profit              940   1 065     -12  3)  3 436    3 688     -7 3)
  %                       7       8                  7        8        
Earnings per share,                              13.70    14.40        
SEK
Return on capital                                 15.4     17.4        
employed, %
1)        +12% and -1% at fixed exchange rates for comparable units.
2)        -2% and -7% at fixed exchange rates for comparable units.
3)        2001: Including capital gain SEK +340 M and costs for
restructuring program SEK -515 M in Q4.

Effective 2003, the Sandvik Specialty Steels business area changed name
to Sandvik Materials Technology.

Appendices:
1. Group summary
2. Invoicing and operating profit

The report on 2002 operations has not been audited by the company's
auditors. Sandvik Group's result for the first quarter of 2003 will be
published in connection with the Company's Annual General Meeting on 5
May 2003.

For additional information, please call [phone]

A combined presentation and telephone conference will be held at the
Operaterrassen in Stockholm on 11 February, 14:00. For further
information visit www.sandvik.com