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Report on the fourth quarter and full-year 2004

President's comment:

"Demand in the quarter remained high in all markets and order intake increased 17%. Profit after financial items rose to SEK 1,794 M, making 2004 a record year for Sandvik. Both sales and earnings were the highest ever. Invoicing amounted to SEK 55 billion and profit after financial items rose to SEK 6.5 billion. Increased market shares and continued efficiency improvements meant that the Group strengthened its position as global market leader," says Sandvik's President and CEO Lars Pettersson.