Sandvik completes the acquisition of Universal Field Robots
Rhea-AI Summary
Sandvik has completed its acquisition of Universal Field Robots (UFR), an Australian provider of autonomous interoperable solutions for mining markets. UFR, which will be integrated into Sandvik's Digital Mining Technologies division, generated revenues of approximately SEK 80 million in the fiscal year ending June 2024. The Brisbane-based company employs around 40 people. While the acquisition's impact on Sandvik's EBITA margin will be , it is expected to positively affect earnings per share (excluding non-cash amortization effects).
Positive
- Acquisition expands Sandvik's digital mining technology portfolio
- UFR's revenue contribution of SEK 80 million
- Expected positive impact on earnings per share
- Strategic expansion into autonomous mining solutions market
Negative
- impact on EBITA margin
News Market Reaction – SDVKY
On the day this news was published, SDVKY gained 1.46%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
STOCKHOLM, Dec. 2, 2024 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of Universal Field Robots (UFR), a fast-growing Australia-based provider of autonomous interoperable solutions for the surface mining and underground mining markets. UFR will be reported in Digital Mining Technologies, a division within business area Sandvik Mining and Rock Solutions.
UFR has approximately 40 employees and is headquartered in Brisbane, Australia. In the financial year that ended in June 2024, the company generated revenues of approximately SEK 80 million. The impact on Sandvik's EBITA margin will be limited. The impact on Sandvik's earnings per share (excluding non-cash amortization effects from business combinations) will be positive.
Stockholm, December 2, 2024
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.
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Sandvik completes the acquisition of Universal Field Robots |
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