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.
Sandvik will release its first quarter results on April 20, 2022, at approximately 11:30 AM CEST. Following the report, a combined webcast and conference call for investors and analysts will take place at 1:00 PM CEST, led by President and CEO Stefan Widing and CFO Cecilia Felton. Attendees can access presentation slides from 12:30 PM CEST on the company website. Dial-in options are available for participants in Sweden, the UK, and the US.
Sandvik has successfully completed its acquisition of Deswik, an Australian leader in mine planning software, as of April 4, 2022. Deswik generated AUD 79 million in revenue over the last twelve months, with 45% coming from recurring sources and an EBITA margin of 30%. This acquisition is expected to be accretive to Sandvik's earnings per share, excluding non-cash amortization effects from business combinations. Deswik will now operate under the newly established division, Digital Mining Technologies, within Sandvik Mining and Rock Solutions.
Sandvik Aktiebolag has announced its Annual General Meeting (AGM) scheduled for April 27, 2022, at 4:00 p.m. in Sandviken, Sweden. Shareholders can participate in person, by proxy, or via postal voting, with notices due by April 21, 2022. The agenda includes adopting a cash dividend of SEK 4.75 per share, distribution of shares in Sandvik Materials Technology (to be renamed Alleima AB), and election of board members. The meeting will also address a long-term incentive program for 2022, and the Board's proposal to authorize share buybacks.
Sandvik announced significant accounting and reporting changes effective in 2022. The company will classify Sandvik Materials Technology (SMT) as discontinued operations, with a proposal for its distribution and listing to be made at the Annual General Meeting on April 27, 2022. Furthermore, Sandvik is shifting its key operating profit metric to adjusted EBITA, replacing the previous adjusted EBIT. Additionally, M&A transaction costs will now be reported as items affecting comparability. These updates aim to enhance clarity on Sandvik's underlying operating performance.
Sandvik has proposed the distribution and listing of Sandvik Materials Technology (SMT) during the Annual General Meeting set for April 27, 2022. The planned listing on the Nasdaq Stockholm Exchange is scheduled for August 31, 2022. Subject to shareholder approval, SMT will be renamed Alleima, reflecting its focus on advanced materials technology. The leadership believes this move will enhance long-term shareholder value for both Sandvik and SMT.
Sandvik invites investors and analysts to its Capital Markets Day on May 17, 2022, at Epicenter, Stockholm. The event will showcase the company's Shift to Growth strategy through presentations by President and CEO Stefan Widing, CFO Cecilia Felton, and others. Attendees can register until May 4, 2022, for onsite participation, while a live broadcast will be available online without pre-registration. The agenda includes exhibitions and Q&A sessions, concluding with a mingle event. Recordings and presentation materials will be accessible by May 18.
Sandvik AB has released its Annual Report for 2021, now accessible on the company's website. The report is printed in a limited edition for shareholders who have requested it. This announcement fulfills the company's obligation to disclose information as per the Securities Market Act. For inquiries, the Investor Relations VP and Media Relations Manager are available for contact. The report emphasizes Sandvik's commitment to transparency and provides insights into its financial performance and strategic goals.
On March 9, 2022, Sandvik announced the appointment of Susanne Pahlén Åklundh as a new member of the Board for its business area Sandvik Materials Technology (SMT). This appointment completes the SMT Board of Directors, which includes experienced members from diverse sectors. The company plans to propose the distribution and listing of SMT at the Nasdaq Stockholm Exchange, subject to shareholder approval, targeting completion by Q2 or Q3 of 2022. These moves are part of Sandvik's strategic reorganization to enhance governance as it prepares for the upcoming listing.
Sandvik Materials Technology has secured a significant order valued at approximately SEK 800 million for advanced tubes in the energy sector. This order, booked in Q1 2022, is set for delivery between 2023 and 2025. Göran Björkman, President of the business area, highlighted this contract as a testament to Sandvik's reliability and value proposition as a key supplier. This order strengthens Sandvik's position in the energy segment, showcasing its capability to fulfill large and essential contracts.
Sandvik Mining and Rock Solutions has secured a contract valued at approximately SEK 2 billion from BHP for the Jansen Potash project in Saskatchewan, Canada. This significant collaboration, developed over several years, involves supplying advanced underground mining equipment and automation solutions. Deliveries are set to commence in Q3 2023 and extend until 2026, with expected quarterly orders of SEK 500 million. The Jansen project aims to become the world's largest potash mine, projected to operate for up to 100 years, beginning production in 2027.