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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 invites investors and analysts to its Capital Markets Day on May 17, 2022, at Epicenter, Stockholm. The event will showcase the company's Shift to Growth strategy through presentations by President and CEO Stefan Widing, CFO Cecilia Felton, and others. Attendees can register until May 4, 2022, for onsite participation, while a live broadcast will be available online without pre-registration. The agenda includes exhibitions and Q&A sessions, concluding with a mingle event. Recordings and presentation materials will be accessible by May 18.
Sandvik AB has released its Annual Report for 2021, now accessible on the company's website. The report is printed in a limited edition for shareholders who have requested it. This announcement fulfills the company's obligation to disclose information as per the Securities Market Act. For inquiries, the Investor Relations VP and Media Relations Manager are available for contact. The report emphasizes Sandvik's commitment to transparency and provides insights into its financial performance and strategic goals.
On March 9, 2022, Sandvik announced the appointment of Susanne Pahlén Åklundh as a new member of the Board for its business area Sandvik Materials Technology (SMT). This appointment completes the SMT Board of Directors, which includes experienced members from diverse sectors. The company plans to propose the distribution and listing of SMT at the Nasdaq Stockholm Exchange, subject to shareholder approval, targeting completion by Q2 or Q3 of 2022. These moves are part of Sandvik's strategic reorganization to enhance governance as it prepares for the upcoming listing.
Sandvik Materials Technology has secured a significant order valued at approximately SEK 800 million for advanced tubes in the energy sector. This order, booked in Q1 2022, is set for delivery between 2023 and 2025. Göran Björkman, President of the business area, highlighted this contract as a testament to Sandvik's reliability and value proposition as a key supplier. This order strengthens Sandvik's position in the energy segment, showcasing its capability to fulfill large and essential contracts.
Sandvik Mining and Rock Solutions has secured a contract valued at approximately SEK 2 billion from BHP for the Jansen Potash project in Saskatchewan, Canada. This significant collaboration, developed over several years, involves supplying advanced underground mining equipment and automation solutions. Deliveries are set to commence in Q3 2023 and extend until 2026, with expected quarterly orders of SEK 500 million. The Jansen project aims to become the world's largest potash mine, projected to operate for up to 100 years, beginning production in 2027.
Sandvik has finalized its acquisition of Gerling GmbH, a precision tube engineering firm based in Germany, specializing in the hydrogen market. This acquisition includes innovative solutions for high-pressure control technology used in hydrogen refueling stations. In 2020, Gerling reported revenues of approximately SEK 90 million and a neutral EBIT margin with Sandvik Materials Technology. Gerling will operate under Sandvik's Tube division, further enhancing Sandvik's capabilities in the fast-developing hydrogen sector.
The Nomination Committee of Sandvik AB has proposed the re-election of Board members including Jennifer Allerton, Claes Boustedt, and Johan Molin, who is also suggested to continue as Chairman. This decision is a part of the preparations for the Annual General Meeting scheduled for April 27, 2022. The committee includes representatives from major stakeholders like AB Industrivärden and Swedbank Robur Funds. Further proposals will be disclosed in the official meeting notice.
Sandvik announced plans to formally propose the distribution and listing of its business area, Sandvik Materials Technology (SMT), at a shareholder meeting, aiming for a Nasdaq Stockholm Exchange listing in Q2 or Q3 2022, pending approval. Andreas Nordbrandt was appointed Chairman, with Claes Boustedt and Karl Åberg as board members. Additionally, Kerstin Konradsson has been appointed to SMT's Board, bringing extensive experience from the metals industry. More board members will be appointed later to ensure a diverse composition.
Sandvik, in its Fourth Quarter 2021 report, noted a strong order intake of SEK 30,902 million, with organic growth of 23%. Total revenue grew to SEK 29,128 million, representing a 14% organic growth rate. The adjusted EBITA reached SEK 5,354 million, with a margin of 18.4%. Net profit for the period was SEK 3,870 million. The company proposed a dividend of 4.75 SEK per share. Despite strong overall performance, EBITA margin decreased from 20.5% in Q4 2020 to 18.4%.
Sandvik is set to publish its fourth quarter results on January 20, 2022, at approximately 08:00 AM CET. A combined webcast and conference call will follow at 10:00 AM CET, featuring presentations by Stefan Widing, President and CEO, and Cecilia Felton, acting CFO. Investors can access the presentation live on Sandvik's website, with additional materials available from 09:30 AM CET.
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