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 second quarter results on July 16, 2021, at approximately 11.30 CEST. A combined webcast and conference call for investors and analysts will follow at 13.00 CEST, featuring the presentation by Stefan Widing, President and CEO, along with Tomas Eliasson, CFO. The presentation will be accessible via the company's website, with dial-in options provided for participants. Presentation slides will be available from 12.00 CEST on the same day.
Sandvik has entered an agreement to acquire Cambrio, a US-based CAD/CAM software provider, as part of its strategy to expand in advanced manufacturing. This acquisition will enhance Sandvik's offerings in manufacturing automation and strengthen its position in the CAM market. Cambrio reported SEK 628 million (USD 68 million) in revenue in 2020, with a slightly dilutive EBIT margin. The transaction is expected to close in the second half of 2021, subject to regulatory approvals.
Sandvik has achieved a record order intake of approximately SEK 140 million for battery-electric mining vehicles (BEVs) in June 2021, marking its highest monthly total. The orders include seven Sandvik Z50 50-ton underground haul trucks and two Sandvik LH518B 18-ton loaders from Canadian mining customers. This surge follows successful trials that demonstrated the performance capabilities of Sandvik's BEVs. President Henrik Ager expressed satisfaction with the increasing customer interest, highlighting a commitment to sustainable mining solutions.
Sandvik has announced its acquisition of South African company Kwatani, a key supplier of screens and feeders for the mining sector. This strategic move aims to enhance Sandvik's position in rock processing and expand its equipment range, particularly in Africa. Kwatani, which generated approximately 175 million SEK in revenue in 2020, will be integrated into Sandvik Rock Processing Solutions. The deal, expected to close in Q4 2021, aims to bolster Sandvik's capabilities in comminution while having a neutral initial impact on Sandvik's earnings per share.
Sandvik AB held its Annual General Meeting on April 27, 2021, via postal voting due to COVID-19. The meeting adopted the 2020 financial accounts and approved a dividend of SEK 6.50 per share, with payments starting May 4, 2021. New member Andreas Nordbrandt was elected to the Board, while Johan Molin was re-elected as Chairman. The company also initiated a long-term incentive program for 350 executives, potentially costing up to SEK 346 million. PricewaterhouseCoopers AB was re-elected as auditor. Amendments to the Articles of Association were approved, allowing postal voting.
Sandvik reported a strong performance for Q1 2021, with order intake reaching 25,847 million SEK, a rise from 25,356 million SEK in the previous year. The company experienced organic growth of 12.2%, while revenues stood at 21,691 million SEK, down from 23,620 million SEK. Operating profit increased to 4,256 million SEK with a margin of 19.6%. Earnings per share rose to 2.53 SEK from 1.46 SEK.
Sandvik will release its first quarter results on April 20, 2021, at approximately 11.30 CEST. A combined webcast and conference call for investors, analysts, and financial media will follow at 13.00 CEST, featuring President and CEO Stefan Widing and CFO Tomas Eliasson. The presentation can be streamed live on the company's website. Dial-in details are provided for participants in Sweden, the UK, and the US. Presentation slides will be available on the website around 12.00 CEST.
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.
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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.