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Sandvik AB S/ADR (SDVKY) is a global high-tech engineering group known for offering cutting-edge tools, solutions, and services for a variety of industries, including mining, construction, and manufacturing.
The company recently made headlines by acquiring Almü and Ahno, two leading cutting tools and solutions providers, to strengthen its position in lightweight materials and expand its presence in China. Sandvik also secured significant orders for electric rotary drill rigs in Mongolia and underground mining equipment in India.
With a strong focus on innovation, sustainability, and customer satisfaction, Sandvik continues to lead the industry with its advanced engineering competence and tailor-made precision tool solutions.
Sandvik (SDVKY) announced that Åsa Thunman, Executive Vice President and General Counsel, will depart from the company to join Swedish construction group Skanska in a similar role. Thunman, who has served in her current position and as a member of the Group Executive Management since 2014, will remain with Sandvik until July 8, 2025 at the latest.
The company has initiated a recruitment process to find her successor. CEO Stefan Widing acknowledged Thunman's contributions in developing the legal organization and her role in the Group Executive Management.
Sandvik has announced its upcoming Capital Markets Day, scheduled for May 20-21, 2025, to be held at Sandvik Manufacturing and Machining Solutions' site in Gimo, Sweden. The event will run from midday to midday and feature presentations from the CEO, CFO, and business area management, along with a site tour.
The Capital Markets Day will provide institutional investors, financial analysts, and financial media an opportunity to receive updates on Sandvik's strategy and development. Additional information and registration details will be communicated in February.
Sandvik (SDVKY) has announced it will release its fourth quarter 2024 financial results on January 23, 2025, at approximately 08:00 AM CET. The company will host a combined webcast and conference call for investors, analysts, and financial media at 10:00 AM CET.
The presentation will be led by Stefan Widing, President and CEO, and Cecilia Felton, CFO. The event will be streamed live on Sandvik's website, with presentation slides available from 09:30 AM CET. The company has provided international dial-in numbers for participants from Sweden, the UK, and the US.
Sandvik (SDVKY) has acquired the assets of FASTech, a US-based reseller of Computer Aided Manufacturing (CAM) solutions in the Mastercam network. The acquisition aims to strengthen Sandvik's position in the CAM market and enhance its capabilities to serve customers in the digital manufacturing space. FASTech, founded in 1988 and headquartered in Findlay, Ohio, serves manufacturing customers in the Midwest region of the US.
The acquired company will be integrated into Sandvik's business unit Mastercam and reported within the Sandvik Manufacturing and Machining Solutions business area. The impact on Sandvik's EBITA margin and earnings per share is expected to be The purchase price was not disclosed.
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).
Sandvik released its interim report for Q3 2024, showing mixed results. Order intake was SEK 28,796 million, increasing by 4% at fixed exchange rates. Revenues reached SEK 30,306 million, with a 1% growth at fixed exchange rates. Adjusted EBITA was SEK 5,866 million, with a margin of 19.4%, down from 20.1% in the previous year. Adjusted EBIT stood at SEK 5,382 million, with a margin of 17.8%, compared to 18.5% previously. Profit for the period decreased to SEK 3,239 million from SEK 3,900 million. Earnings per share, diluted, fell to SEK 2.58 from SEK 3.10. On a positive note, free operating cash flow improved to SEK 6,762 million from SEK 5,830 million.
Sandvik (SDVKY) has announced the upcoming release of its third quarter 2024 results on Monday, October 21, 2024, at approximately 11:30 AM CEST. A combined webcast and conference call for investors, analysts, and financial media will be held at 1:00 PM CEST. The report will be presented by Stefan Widing, President and CEO, and Cecilia Felton, CFO.
The presentation will be broadcasted live on Sandvik's website. Dial-in details for the conference call are provided for Sweden, UK, and US participants. Presentation slides will be available on the company's website from about 12:30 PM CEST.
Sandvik has announced strategic changes in its business focus, resulting in the divestment of non-core assets. The company has sold the engineer-to-order business of DWFritz Automation to Balmoral Funds and decided to exit its minority stake in BEAMIT, an Italian additive manufacturing service provider. These moves align with Sandvik's renewed focus on software solutions, enabling hardware, and metal powders in additive manufacturing.
The company will incur charges of approximately SEK 390 million in the third quarter, reported as items affecting comparability. This includes a capital loss of about SEK 250 million from the DWFritz divestment and a write-down of SEK 140 million related to the BEAMIT stake. Sandvik will retain the ZeroTouch® platform, which is important to its closed loop strategy. Both DWFritz and BEAMIT were previously reported under the Sandvik Manufacturing and Machining Solutions business area.
Sandvik AB has announced the formation of its Nomination Committee for the 2025 Annual General Meeting, following the instruction adopted in 2020. The committee consists of five members:
- Fredrik Lundberg (AB Industrivärden), Chairman
- Daniel Kristiansson (Alecta)
- Marianne Nilsson (Swedbank Robur Funds)
- Lars Pettersson (Lundbergs)
- Johan Molin (Sandvik's Chairman of the Board)
The committee will prepare proposals for the 2025 AGM, including the Chairman of the Meeting, Board members, fees, auditor selection, and potential changes to the committee instruction. The AGM is scheduled for April 29, 2025 in Sandviken, Sweden. Shareholders can submit proposals to the committee by January 20, 2025.
Sandvik (SDVKY) has announced its upcoming Capital Markets Day, scheduled for May 20-21, 2025, at their Manufacturing and Machining Solutions site in Gimo, Sweden. The event, running from midday to midday, will feature presentations by the CEO, CFO, and business area management, along with a site tour. This gathering offers institutional investors, financial analysts, and financial media an opportunity to receive updates on Sandvik's strategy and development. The company will provide more information and registration details in due course. For further inquiries, interested parties can contact Louise Tjeder, VP Investor Relations, or Johannes Hellström, Press and Media Relations Manager.
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