Sandvik completes the acquisition of advanced mine optimization software provider Polymathian Industrial Mathematics

Rhea-AI Summary

On February 1, 2023, Sandvik finalized its acquisition of Polymathian Industrial Mathematics, an Australian firm known for advanced mine optimization software. This strategic move positions Polymathian within Sandvik's Digital Mining Technologies division. The acquisition is anticipated to enhance Sandvik's revenue, with Polymathian generating approximately SEK 100 million in annual revenues as of June 2022, alongside a robust 40% EBITA margin. Notably, the acquisition is projected to be accretive to Sandvik's earnings per share, signaling a positive outlook for shareholders.

Positive

• Strategic acquisition of Polymathian enhances Sandvik's software capabilities.
• Polymathian's SEK 100 million revenue adds to Sandvik's financial growth.
• 40% EBITA margin indicates strong profitability from the acquired business.
• Acquisition expected to be accretive to earnings per share.

Negative

• None.

STOCKHOLM, Feb. 1, 2023 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of Polymathian Industrial Mathematics ("Polymathian"), an Australia-based provider of advanced mine optimization software and services. Polymathian will be reported in Digital Mining Technologies, a division within business area Sandvik Mining and Rock Solutions (SMR).

The company's annual revenues per June 2022 were around SEK 100 million. The EBITA margin is approximately 40 percent and impact on Sandvik's earnings per share (excluding PPA) will be accretive.

Sandvik AB

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.

 

The following files are available for download:

https://mb.cision.com/Main/208/3706870/1819086.pdf

Sandvik completes the acquisition of advanced mine optimization software provider Polymathian Industrial Mathematics

 

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SOURCE Sandvik

FAQ

What is the significance of Sandvik's acquisition of Polymathian on February 1, 2023?

The acquisition enhances Sandvik's capabilities in advanced mine optimization, bolstering its Digital Mining Technologies division.

How much revenue does Polymathian generate annually?

Polymathian reported annual revenues of approximately SEK 100 million as of June 2022.

What is the EBITA margin for Polymathian?

Polymathian has an EBITA margin of about 40%, indicating strong profitability.

How will the acquisition impact Sandvik's earnings?

The acquisition is expected to be accretive to Sandvik's earnings per share, improving financial performance.

What is Sandvik's stock symbol?

Sandvik's stock symbol is SDVKY.