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

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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SOURCE Sandvik

FAQ

What is the revenue of Universal Field Robots acquired by Sandvik (SDVKY)?

Universal Field Robots generated revenues of approximately SEK 80 million in the financial year ending June 2024.

How many employees does Universal Field Robots have after Sandvik's (SDVKY) acquisition?

Universal Field Robots has approximately 40 employees and is headquartered in Brisbane, Australia.

How will the Universal Field Robots acquisition affect Sandvik's (SDVKY) earnings?

The acquisition will have a positive impact on Sandvik's earnings per share (excluding non-cash amortization effects) but a impact on EBITA margin.

Which division will Universal Field Robots be reported under in Sandvik (SDVKY)?

Universal Field Robots will be reported in Digital Mining Technologies, a division within Sandvik Mining and Rock Solutions.