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.
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Sandvik AB reported strong first-quarter results for 2023, demonstrating robust performance with an 18% increase in revenue, amounting to SEK 30,968 million compared to SEK 24,921 million in the same quarter last year. The company's order intake reached SEK 34,363 million, reflecting a 6% growth at fixed exchange rates. Adjusted EBITA stood at SEK 6,119 million, with a margin of 19.8%. Notably, the profit for the period was SEK 3,816 million, and adjusted earnings per share increased to SEK 3.04. The free operating cash flow also saw substantial growth, reaching SEK 3,710 million. These results were officially published on April 21, 2023.
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On April 21, 2023, Sandvik announced the appointment of Mattias Nilsson as President of the Sandvik Manufacturing Solutions segment, effective May 8, 2023. Nilsson currently serves as Vice President of Offer Management and R&D at Sandvik Coromant and boasts extensive experience in manufacturing, having been with the company since 2007. He has previously held roles including General Manager of Sales Area South Europe and Managing Director of Sandvik Teeness. Nilsson replaces Christophe Sut, who is transitioning to the role of CEO at Scanfil. CEO Stefan Widing expressed confidence in Nilsson's leadership and international expertise, anticipating positive contributions to the company.
Sandvik will announce its first quarter results on April 21, 2023, at approximately 11:30 AM CEST. A combined webcast and conference call for investors, analysts, and financial media will follow at 1:00 PM CEST, featuring presentations by Stefan Widing, President and CEO, and Cecilia Felton, CFO. Investors can access the presentation live on Sandvik's website, with presentation slides available by 12:30 PM CEST. The conference call can be dialed in from Sweden, the UK, and the US using provided numbers. For inquiries, contact Louise Tjeder or Johannes Hellström.
Sandvik has acquired MCB Services and Minerals, a Brazilian seller of mining software and services, for an undisclosed amount. MCB generated revenues of SEK 60 million in 2022 and will be integrated into Sandvik's Digital Mining Technologies division. This acquisition is expected to be accretive to Sandvik's earnings per share. MCB has established strong relationships with key open-pit mines across Latin America, aligning with Sandvik's strategic objective to expand in the surface mining segment. The deal enhances MCB's existing partnership with Deswik, strengthening their market position in Brazil and beyond.
Sandvik has secured a significant order valued at approximately SEK 180 million from Codelco, the world's largest copper producer, to deliver an AutoMine® Fleet automation system and six autonomous loaders for the El Teniente mine in Chile. This contract marks a continuation of their ongoing partnership and is expected to enhance Codelco's goal of creating the most automated mine globally. The order was booked in the first quarter of 2023, with delivery planned for the same year, adding to Codelco's fleet of over 40 autonomous Sandvik machines.