Welcome to our dedicated page for SANDVIK AB S/ADR news (Ticker: SDVKY), a resource for investors and traders seeking the latest updates and insights on SANDVIK AB S/ADR stock.
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 has entered an agreement to acquire Cambrio, a US-based CAD/CAM software provider, as part of its strategy to expand in advanced manufacturing. This acquisition will enhance Sandvik's offerings in manufacturing automation and strengthen its position in the CAM market. Cambrio reported SEK 628 million (USD 68 million) in revenue in 2020, with a slightly dilutive EBIT margin. The transaction is expected to close in the second half of 2021, subject to regulatory approvals.
Sandvik has achieved a record order intake of approximately SEK 140 million for battery-electric mining vehicles (BEVs) in June 2021, marking its highest monthly total. The orders include seven Sandvik Z50 50-ton underground haul trucks and two Sandvik LH518B 18-ton loaders from Canadian mining customers. This surge follows successful trials that demonstrated the performance capabilities of Sandvik's BEVs. President Henrik Ager expressed satisfaction with the increasing customer interest, highlighting a commitment to sustainable mining solutions.
Sandvik has announced its acquisition of South African company Kwatani, a key supplier of screens and feeders for the mining sector. This strategic move aims to enhance Sandvik's position in rock processing and expand its equipment range, particularly in Africa. Kwatani, which generated approximately 175 million SEK in revenue in 2020, will be integrated into Sandvik Rock Processing Solutions. The deal, expected to close in Q4 2021, aims to bolster Sandvik's capabilities in comminution while having a neutral initial impact on Sandvik's earnings per share.
Sandvik AB held its Annual General Meeting on April 27, 2021, via postal voting due to COVID-19. The meeting adopted the 2020 financial accounts and approved a dividend of SEK 6.50 per share, with payments starting May 4, 2021. New member Andreas Nordbrandt was elected to the Board, while Johan Molin was re-elected as Chairman. The company also initiated a long-term incentive program for 350 executives, potentially costing up to SEK 346 million. PricewaterhouseCoopers AB was re-elected as auditor. Amendments to the Articles of Association were approved, allowing postal voting.
Sandvik reported a strong performance for Q1 2021, with order intake reaching 25,847 million SEK, a rise from 25,356 million SEK in the previous year. The company experienced organic growth of 12.2%, while revenues stood at 21,691 million SEK, down from 23,620 million SEK. Operating profit increased to 4,256 million SEK with a margin of 19.6%. Earnings per share rose to 2.53 SEK from 1.46 SEK.
Sandvik will release its first quarter results on April 20, 2021, at approximately 11.30 CEST. A combined webcast and conference call for investors, analysts, and financial media will follow at 13.00 CEST, featuring President and CEO Stefan Widing and CFO Tomas Eliasson. The presentation can be streamed live on the company's website. Dial-in details are provided for participants in Sweden, the UK, and the US. Presentation slides will be available on the website around 12.00 CEST.
The Annual General Meeting (AGM) of Sandvik Aktiebolag will be held on April 27, 2021, allowing shareholders to participate solely through postal voting due to the Covid-19 pandemic. Shareholders must be recorded in the share register by April 19, 2021, to vote. The meeting's agenda includes the election of board members, approval of a dividend of SEK 6.50 per share, and a long-term incentive program for 2021. The proposed record day for the dividend is April 29, 2021, with payment expected on May 4, 2021.
Sandvik announced the establishment of a new business area, Sandvik Rock Processing Solutions (SRP), effective January 1, 2021. This division incorporates the previous Crushing and Screening segment from Sandvik Mining and Rock Technology, now renamed Sandvik Mining and Rock Solutions (SMR). The 2020 financial results show mixed performance; SMR achieved a total revenue of 33,572 million with a 1% organic growth in order intake, while SRP reported revenues of 6,459 million but faced a -11% decline in order intake.
Sandvik has announced its agreement to acquire CGTech, a leader in NC/CNC simulation software, for an undisclosed amount. This acquisition aligns with Sandvik's strategy to expand in the digital manufacturing space. CGTech, which generated SEK 470 million in revenue in 2019, will enhance Sandvik's capabilities in machining intelligence and broaden its software offerings. The deal, expected to close in Q4 2020, aims to improve customer solutions and is projected to have a neutral impact on Sandvik’s earnings per share initially.
FAQ
What is the current stock price of SANDVIK AB S/ADR (SDVKY)?
What is the market cap of SANDVIK AB S/ADR (SDVKY)?
What industries does Sandvik AB operate in?
What recent acquisitions has Sandvik AB made?
What significant orders has Sandvik AB secured recently?
What are some core values of Sandvik AB?
