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Sandvik AB (SDVKY) is a global leader in advanced mining equipment, machining solutions, and digital manufacturing technologies. This page provides investors and industry professionals with timely updates on corporate developments, strategic initiatives, and operational milestones.
Access comprehensive coverage of Sandvik's latest press releases including earnings reports, technology innovations, and global expansion efforts. Our curated news collection helps stakeholders track critical updates in mining automation, precision cutting tools, and computer-aided manufacturing (CAM) solutions.
Key areas of focus include acquisitions in industrial technology sectors, product launches for underground drilling systems, and partnerships advancing sustainable manufacturing practices. All content is verified from official sources to ensure accuracy and relevance for financial decision-making.
Bookmark this page for centralized access to Sandvik AB's corporate communications and market-moving announcements. Regularly updated to reflect the company's evolving position in engineering and industrial automation sectors.
The Annual General Meeting (AGM) of Sandvik Aktiebolag will be held on April 27, 2021, allowing shareholders to participate solely through postal voting due to the Covid-19 pandemic. Shareholders must be recorded in the share register by April 19, 2021, to vote. The meeting's agenda includes the election of board members, approval of a dividend of SEK 6.50 per share, and a long-term incentive program for 2021. The proposed record day for the dividend is April 29, 2021, with payment expected on May 4, 2021.
Sandvik announced the establishment of a new business area, Sandvik Rock Processing Solutions (SRP), effective January 1, 2021. This division incorporates the previous Crushing and Screening segment from Sandvik Mining and Rock Technology, now renamed Sandvik Mining and Rock Solutions (SMR). The 2020 financial results show mixed performance; SMR achieved a total revenue of 33,572 million with a 1% organic growth in order intake, while SRP reported revenues of 6,459 million but faced a -11% decline in order intake.
Sandvik has announced its agreement to acquire CGTech, a leader in NC/CNC simulation software, for an undisclosed amount. This acquisition aligns with Sandvik's strategy to expand in the digital manufacturing space. CGTech, which generated SEK 470 million in revenue in 2019, will enhance Sandvik's capabilities in machining intelligence and broaden its software offerings. The deal, expected to close in Q4 2020, aims to improve customer solutions and is projected to have a neutral impact on Sandvik’s earnings per share initially.
Sandvik reported its third quarter 2020 results, showcasing strong financial performance. Key highlights include an order intake of 19,909 million SEK and revenues of 20,145 million SEK. The operating profit stood at 3,459 million SEK, with an operating margin of 17.2%. Profit after financial items reached 3,988 million SEK. Earnings per share were 2.54 SEK, indicating financial stability.
Sandvik will establish a new business area, Sandvik Rock Processing Solutions (SRP), effective January 1, 2021. This division will encompass the current Crushing and Screening division, which is part of Sandvik Mining and Rock Technology. The move aims to enhance growth in rock processing due to differing competitive landscapes. SRP generated approximately SEK 7.4 billion in sales with a 15.9% operating profit margin in 2019. Anders Svensson is appointed as the President, while Sandvik Mining and Rock Technology will be renamed Sandvik Mining and Rock Solutions on the same date.
Sandvik's Board of Directors has announced plans to distribute Sandvik Materials Technology (SMT) to shareholders and list its shares on the Nasdaq Stockholm Exchange. The proposal will be presented at a shareholders' meeting in 2022, contingent on favorable circumstances. The Board believes that separating Sandvik and SMT will enhance long-term shareholder value. Key executives expressed confidence in this strategic direction, stating that both entities can thrive independently. Further updates will be provided as the process progresses.
Sandvik has announced the divestiture of its Exploration business to Drillman, a subsidiary of the M Group, based in Australia. The deal, which includes exploration rigs and trademarks, is aligned with Sandvik’s strategy to enhance efficiency and profitability. In 2019, the Exploration business generated revenues of approximately SEK 450 million but had a slightly dilutive impact on Sandvik Mining and Rock Technology's margins. The transaction is awaiting regulatory approvals, with closure expected in Q4 2020.
Sandvik showcased groundbreaking medical innovations aimed at improving the lives of individuals with disabilities, including Parkinson's disease and hearing loss. Their advancements include specialized medical wires, tailored prosthetic limbs, and rapid 3D-printing technologies for skull and spinal implants. The company highlighted the importance of collaboration in medical innovations, encouraging partners to explore these life-changing solutions. This focus on medical technology positions Sandvik as a key player in the sector, responding to growing needs for effective healthcare solutions.
On October 2, 2020, Sandvik announced the completion of its acquisition of Allied Construction Products LLC, a US distributor of hydraulic hammers and manufacturer of compactor plates. Previously, Sandvik held a 21% minority stake in Allied, which generated approximately 29 million USD in revenue in 2019 with a workforce of 38 employees. The acquisition is projected to be neutral to Sandvik's earnings per share from the start, enhancing its product offerings significantly, as Sandvik's products accounted for about 80% of Allied's revenues.
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