Sandvik Ab - SDVKY STOCK NEWS

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.

Sandvik reported its third quarter 2020 results, showcasing strong financial performance. Key highlights include an order intake of 19,909 million SEK and revenues of 20,145 million SEK. The operating profit stood at 3,459 million SEK, with an operating margin of 17.2%. Profit after financial items reached 3,988 million SEK. Earnings per share were 2.54 SEK, indicating financial stability.

Sandvik will establish a new business area, Sandvik Rock Processing Solutions (SRP), effective January 1, 2021. This division will encompass the current Crushing and Screening division, which is part of Sandvik Mining and Rock Technology. The move aims to enhance growth in rock processing due to differing competitive landscapes. SRP generated approximately SEK 7.4 billion in sales with a 15.9% operating profit margin in 2019. Anders Svensson is appointed as the President, while Sandvik Mining and Rock Technology will be renamed Sandvik Mining and Rock Solutions on the same date.