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, a leading global engineering company, will release its second quarter results for 2024 on July 19 at approximately 12:30 PM CEST. The results will be presented during a combined webcast and conference call at 2:00 PM CEST by Stefan Widing, President and CEO, along with CFO Cecilia Felton. Presentation slides will be available on the company's website from 1:30 PM CEST. The report can be accessed via webcast on Sandvik's website, and the conference call can be joined using specified dial-in numbers for Sweden, the UK, and the US. For more information, investors and media can contact Louise Tjeder, VP Investor Relations, or Johannes Hellström, Press and Media Relations Manager.
Sandvik has secured a significant order for underground mining equipment from Cimertex, a distributor in Portugal. The equipment, valued at approximately SEK 340 million, will be supplied to Almina Minas do Alentejo S.A.
Deliveries are set to commence in Q3 2024 and continue through 2025. The order includes Toro™ TH663i trucks, Toro™ LH621i loaders, Sandvik DS411 rock bolters, and Sandvik DL421 longhole production drills. A significant portion of the trucks will feature the AutoMine® Fleet automation system.
Additionally, the order incorporates a seven-year full aftermarket service contract. This agreement will enable Almina to double its current production capacity in the Iberian pyrite belt, positioning it as one of the largest Sandvik fleets in Europe.
Mats Eriksson, President of Sandvik Mining and Rock Solutions, expressed satisfaction in strengthening their relationship with Cimertex and supporting Almina in enhancing productivity and reducing costs.
Sandvik announced a significant order to supply a fleet of intelligent underground drills to a mining customer in Southeast Asia. The order, valued at approximately SEK 500 million, was booked in Q2 2024. The agreement includes development drills, rock bolters, and longhole drills. Deliveries are scheduled to begin in Q3 2024 and will continue through Q2 2025.
Stockholm, July 1, 2024 - Sandvik has finalized the acquisition of a majority stake in Suzhou Ahno Precision Cutting Tool Technology, a leading China-based company, from Ningbo Baosi Energy Equipment and related parties. Ahno, founded in 2002 and headquartered in Suzhou, China, employs approximately 1,200 individuals. In 2023, Ahno generated revenues of around CNY 812 million (1.2 BSEK) primarily from the Chinese market. This acquisition will be integrated into Sandvik Machining Solutions. The impact on Sandvik's EBITA margin will be , but it is expected to positively affect Sandvik's earnings per share, excluding non-cash amortization effects from business combinations.
On June 4, 2024, Sandvik announced the acquisition of PDQ Workholding, a US-based specialist in custom workholding fixtures and tooling for various industries, including aerospace, automotive, and energy. PDQ will be integrated into Walter, a division within Sandvik Manufacturing and Machining Solutions. This acquisition aims to strengthen Sandvik’s presence in North America, enhance relationships with machine tool builders, and provide early access to component projects. PDQ, founded in 2010, operates from two manufacturing sites with 107 employees and reported a revenue of USD 36 million in 2023. The acquisition is expected to have a impact on Sandvik's EBITA margin and earnings per share.
Sandvik has secured a significant order from Hindustan Zinc for underground mining equipment worth approximately SEK 345 million. The order was booked in Q2 2024, with deliveries scheduled through the end of 2024. This contract strengthens the long-standing partnership between the two companies and includes development drills, production drills, trucks, and loaders. Additionally, the deal offers substantial aftermarket value, enhancing productivity, safety, and sustainability in Hindustan Zinc's operations.
Mats Eriksson, President of Sandvik Mining and Rock Solutions, expressed his satisfaction with the expanded partnership and highlighted the benefits of Sandvik's advanced mining solutions.
Sandvik has finalized the acquisition of Almü, a Germany-based cutting tools and solutions provider. Almü, founded in 1978, has 44 employees and generated approximately 6 MEUR in revenues in 2022. The acquisition will be reported in Sandvik Coromant, impacting Sandvik's EBITA margin and earnings per share minimally.
Sandvik AB held its Annual General Meeting in Sandviken, Sweden on April 29, 2024. The company reported strong revenue growth and profitability for 2023, adopting financial accounts, electing new Board members, and approving a dividend of SEK 5.50 per share. The meeting also approved a long-term incentive program for senior executives and authorized the acquisition of the company's own shares.
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