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 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.
SANDVIKEN, Sweden, September 28, 2020 – Sandvik is set to release its third-quarter results on October 16, 2020, around 11:30 CEST. A conference call will follow at 13:00 CEST featuring President and CEO Stefan Widing and CFO Tomas Eliasson. Investors and analysts can access the presentation live via Sandvik's website. For those wishing to join the conference call, dial-in details are provided for Sweden, the UK, and the US. Presentation slides will be available from 12:30 CEST on the company’s website.