Interim report first quarter 2023: Sandvik

Rhea-AI Summary

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.

Positive

• 18% revenue growth, reaching SEK 30,968 million.
• Order intake of SEK 34,363 million, up 6% at fixed exchange rates.
• Adjusted EBITA of SEK 6,119 million, margin at 19.8%.
• Profit for the period increased to SEK 3,816 million.
• Free operating cash flow surged to SEK 3,710 million.
• Earnings per share rose to SEK 3.04.

Negative

• Adjusted EBITA margin decreased from 20.2% to 19.8%.
• Adjusted EBIT margin down from 19.0% to 18.2%.

STOCKHOLM, April 21, 2023 /PRNewswire/ -- 

First quarter 2023

CONTINUED ROBUST PERFORMANCE WITH 18% REVENUE GROWTH

Continuing operations

• Order intake SEK 34,363 million (30,474)
• Order intake growth, at fixed exchange rates 6%
• Revenues SEK 30,968 million (24,921)
• Revenue growth, at fixed exchange rates 18%
• Adjusted EBITA SEK 6,119 million (5,043)
• Adjusted EBITA margin 19.8% (20.2)
• Adjusted EBIT SEK 5,638 million (4,730)
• Adjusted EBIT margin 18.2% (19.0)
• Adjusted profit before tax SEK 5,109 million (4,431)
• Profit for the period SEK 3,816 million (3,395)
• Adjusted profit for the period SEK 3,855 million (3,402)
• Earnings per share, diluted SEK 3.04 (2.70)
• Adjusted earnings per share, diluted SEK 3.07 (2.71)
• Free operating cash flow SEK 3,710 million (2,292)

Additional information may be obtained from Sandvik Investor Relations, phone +46 70 782 63 74 (Louise Tjeder) or +46 72 506 60 53 (Maria Brandberg).

A webcast and conference call will be held on April 21, 2023 at 1:00 PM CEST. Information is available at home.sandvik/investors

Stefan Widing

President and CEO

This information is information that Sandvik AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at about 11.30 AM CEST on April 21, 2023.

The following files are available for download:

https://mb.cision.com/Main/208/3755963/2001441.pdf

Interim report Q1 2023

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SOURCE Sandvik

FAQ

What were Sandvik's Q1 2023 revenue figures?

Sandvik reported revenues of SEK 30,968 million for Q1 2023, an 18% increase from the previous year.

How much did Sandvik's order intake grow in Q1 2023?

Sandvik's order intake reached SEK 34,363 million, reflecting a 6% growth at fixed exchange rates.

What is the diluted earnings per share for Sandvik in Q1 2023?

The diluted earnings per share for Sandvik in Q1 2023 was SEK 3.04.

What are the adjusted EBITA margins for Sandvik in Q1 2023?

The adjusted EBITA margin for Sandvik in Q1 2023 was 19.8%, down from 20.2% in the previous year.

What is the free operating cash flow reported by Sandvik for Q1 2023?

Sandvik reported a free operating cash flow of SEK 3,710 million for Q1 2023.