Welcome to our dedicated page for Sandvik Ab news (Ticker: SDVKY), a resource for investors and traders seeking the latest updates and insights on Sandvik Ab stock.
Sandvik AB (SDVKY) generates frequent news through its activities in Mining, Rock Processing, Machining and Intelligent Manufacturing. Company announcements cover topics such as major underground mining equipment orders, acquisitions, restructuring initiatives and capital markets communications. This news page aggregates those updates so readers can follow how Sandvik’s business areas develop over time.
A significant portion of Sandvik’s news flow relates to its Mining business area. The company reports large orders for underground mining equipment, including loaders, trucks, drills, drill rigs and rock bolters, as well as digital monitoring solutions like Remote Monitoring Service. Recent releases describe contracts with mining contractors and mine operators in Botswana, Mexico and Mongolia, highlighting Sandvik’s role as a supplier of equipment and digital services for underground mines.
Sandvik also issues news about its strategic acquisitions. Examples include the completed acquisition of Osa Demolition Equipment S.r.l., an Italy-based manufacturer of demolition tools and hydraulic hammers, which becomes a business unit within the Attachment Tools division in Rock Processing, and the acquisition of Verisurf Software Inc., a US-based 3D metrology software solutions provider that operates as a separate business unit in Machining and Intelligent Manufacturing.
Other regular news items include interim reports with financial results, invitations to presentations of quarterly reports, and information from events such as the Capital Markets Day themed "Advancing to 2030". These releases outline Sandvik’s transformation, long-term financial targets and focus on digitalization, automation and electrification. Investors, analysts and others interested in SDVKY can use this news page to review company announcements and follow developments across Sandvik’s business areas.
On January 26, 2023, Sandvik AB's Nomination Committee proposed the re-election of current Board members, including Johan Molin as Chairman, ahead of the Annual General Meeting scheduled for April 27, 2023, in Sandviken, Sweden. The committee comprises notable industry figures, including Fredrik Lundberg from AB Industrivärden and Anna Magnusson from Alecta. The announcement underscores the continuity of Sandvik's leadership, aligning with its strategic focus on enhancing productivity and sustainability across its global operations, with 2022 revenues reported at approximately 112 billion SEK.
Sandvik has secured a SEK 135 million order for mining equipment from Canadian gold mining company New Gold. This order includes four battery-electric vehicles (BEVs), specifically Sandvik LH518B loaders, to be utilized at the New Afton underground gold-copper mine in British Columbia. The mine has previously operated a Sandvik LH518 loader for over two years in a trial, leading to improved cycle times and reduced heat, noise, and greenhouse gas emissions. Mats Eriksson, President of Sandvik Mining and Rock Solutions, noted this expansion highlights the advantages of their equipment in terms of productivity, safety, and sustainability.
On January 20, 2023, Sandvik Aktiebolag reported strong Q4 2022 results with an 11% revenue growth, reaching SEK 31,094 million. Order intake rose to SEK 30,751 million with a 3% growth at fixed exchange rates. Adjusted EBITA climbed to SEK 6,413 million, marking a 20.6% margin. Adjusted earnings per share increased to SEK 3.22, while a dividend of 5.00 SEK per share was proposed. Free operating cash flow was significantly improved at SEK 6,226 million, showcasing robust financial health for the company.
On January 18, 2023, Sandvik signed a EUR 500 million loan agreement with the European Investment Bank to enhance its research and development (R&D) initiatives. The funding will focus on advanced solutions in component manufacturing, as well as electrification and automation in mining and infrastructure. This cooperation aims to improve sustainability, productivity, and safety across Sandvik's core industries. The loan has a seven-year tenor and supports Sandvik's R&D investment plans through 2025, reinforcing the company's commitment to technology leadership.
Sandvik will release its fourth quarter results on January 20, 2023, at 08:00 AM CET. The results will be discussed in a combined webcast and conference call at 10:00 AM CET, featuring CEO Stefan Widing and CFO Cecilia Felton. Presentation slides will be accessible from 9:30 AM CET on their website. Interested parties can join via dial-in numbers provided for Sweden, the UK, and the US. For more details, contact Louise Tjeder or Johannes Hellström.
Sandvik has secured a significant order valued at SEK 210 million from JCHX Mining Management Co., Ltd. for mining equipment at the Kamoa-Kakula and Kamoya copper and cobalt mines in the Democratic Republic of the Congo. The order will contribute to the company’s fourth quarter 2022 financials, with equipment deliveries expected throughout 2023, marking continued demand for Sandvik's advanced mining solutions. Mats Eriksson, President of Sandvik Mining and Rock Solutions, emphasized the order's validation of their intelligent mining equipment's strength and quality.
Sandvik has signed an agreement to acquire Polymathian Industrial Mathematics, an Australia-based provider of advanced mine optimization software. This acquisition strengthens Sandvik's offerings in digital mining technologies and complements its earlier acquisition of Deswik. Polymathian's solutions enhance automated decision-making and process optimization for major mining companies. As of June 2022, Polymathian reported annual revenues of around SEK 100 million with a 40% EBITA margin. The deal is expected to close in Q1 2023, with a positive impact on Sandvik's earnings per share.
On November 1, 2022, Sandvik completed the acquisition of the mining business of Schenck Process Group, a leader in screening, feeding, and train loading solutions. The acquisition is expected to generate approximately EUR 200 million in revenue for 2022, with around 70% from aftermarket services. Strong synergies are anticipated, driving a mid- to high-single digit revenue growth above market growth. The acquisition will be reported under Sandvik Rock Processing Solutions, with a neutral initial impact on earnings per share and an EV/EBITDA multiple of about 10x.
Sandvik Aktiebolag reported a robust third quarter for 2022 with significant growth metrics. Order intake reached SEK 29,231 million, reflecting a 16% increase at fixed exchange rates. Revenues increased by 22% to SEK 29,267 million. Adjusted EBITA rose to SEK 5,889 million, marking an adjusted EBITA margin of 20.1%. Despite revenue growth, profit for the period slightly declined to SEK 3,396 million. The adjusted profit for the period was SEK 3,913 million with diluted earnings per share at SEK 2.71.
Sandvik will release its third quarter results on October 17, 2022, at approximately 11:30 AM CEST. A combined webcast and conference call will follow at 1:00 PM CEST, hosted by President and CEO Stefan Widing and CFO Cecilia Felton. The presentation will be available live on Sandvik's website. Dial-in details for the call are provided for participants from Sweden, the UK, and the US. Presentation slides will be available on the website starting at 12:30 PM CEST.