SANDVIK AB S/ADR - SDVKY STOCK NEWS

On April 21, 2023, Sandvik announced the appointment of Mattias Nilsson as President of the Sandvik Manufacturing Solutions segment, effective May 8, 2023. Nilsson currently serves as Vice President of Offer Management and R&D at Sandvik Coromant and boasts extensive experience in manufacturing, having been with the company since 2007. He has previously held roles including General Manager of Sales Area South Europe and Managing Director of Sandvik Teeness. Nilsson replaces Christophe Sut, who is transitioning to the role of CEO at Scanfil. CEO Stefan Widing expressed confidence in Nilsson's leadership and international expertise, anticipating positive contributions to the company.

Sandvik will announce its first quarter results on April 21, 2023, at approximately 11:30 AM CEST. A combined webcast and conference call for investors, analysts, and financial media will follow at 1:00 PM CEST, featuring presentations by Stefan Widing, President and CEO, and Cecilia Felton, CFO. Investors can access the presentation live on Sandvik's website, with presentation slides available by 12:30 PM CEST. The conference call can be dialed in from Sweden, the UK, and the US using provided numbers. For inquiries, contact Louise Tjeder or Johannes Hellström.

Sandvik has acquired MCB Services and Minerals, a Brazilian seller of mining software and services, for an undisclosed amount. MCB generated revenues of SEK 60 million in 2022 and will be integrated into Sandvik's Digital Mining Technologies division. This acquisition is expected to be accretive to Sandvik's earnings per share. MCB has established strong relationships with key open-pit mines across Latin America, aligning with Sandvik's strategic objective to expand in the surface mining segment. The deal enhances MCB's existing partnership with Deswik, strengthening their market position in Brazil and beyond.

Sandvik has secured a significant order valued at approximately SEK 180 million from Codelco, the world's largest copper producer, to deliver an AutoMine® Fleet automation system and six autonomous loaders for the El Teniente mine in Chile. This contract marks a continuation of their ongoing partnership and is expected to enhance Codelco's goal of creating the most automated mine globally. The order was booked in the first quarter of 2023, with delivery planned for the same year, adding to Codelco's fleet of over 40 autonomous Sandvik machines.

On March 28, 2023, Sandvik announced a significant order from Torex Gold Resources for a 35-unit mining equipment fleet at the Media Luna project in Mexico, valued at approximately SEK 650 million. This includes 15 battery-electric vehicles (BEVs) and 20 conventional internal combustion engine (ICE) units, marking Sandvik's first BEV order in Latin America. Deliveries will start in Q3 2023 and extend into Q4 2025. The contract highlights a push towards sustainable mining practices as Torex aims to launch commercial production by early 2025, targeting 7,500 metric tons per day by 2027.

Sandvik Aktiebolag has announced its Annual General Meeting (AGM) scheduled for April 27, 2023, at 4:00 PM in Sandviken, Sweden. Shareholders can participate either in person or by postal voting, with registration required by April 21, 2023. Key agenda items include the election of board members, approval of the 2022 financial statements, and the proposal for a dividend of SEK 5.00 per share, record date May 2, 2023. The meeting will also discuss a long-term incentive program for management and the authorization for share buybacks. The total number of shares in the company is 1,254,385,923.

Sandvik AB has released its Annual Report for 2022, now available on its company website. The report will be distributed to shareholders who have requested it. Sandvik reported approximately 40,000 employees and revenues of about 112 billion SEK across 150 countries in 2022. The company emphasizes its role in providing high-tech engineering solutions to enhance productivity, profitability, and sustainability in manufacturing, mining, and infrastructure industries. The report was published under the obligations of the Securities Market Act and is accessible for download.

Sandvik has announced a significant investment of SEK 350 million to establish a new production unit in Malaysia for manufacturing underground loaders and trucks. The factory will begin operations in the fourth quarter of 2023 and will focus on meeting the growing demand for battery-electric vehicles (BEVs) in the mining sector. In addition to BEVs, the facility will produce conventional equipment and battery cages. This investment will enhance Sandvik's capacity to serve its customers in the Asia Pacific region with improved lead times and adhering to high quality and safety standards.

Sandvik has appointed Sofia Sirvell as Chief Digital Officer (CDO) effective March 1, 2023. Previously serving as Chief Information Officer (CIO), Sirvell will focus on enhancing digital capabilities and customer offerings across the group. Her experience includes a key role in digital transformation at H&M Group. Additionally, Jessica Alm, Executive Vice President and Head of Group Communications, will leave to join Essity by August 2023, after a significant tenure at Sandvik since 2006. CEO Stefan Widing expressed confidence in Sirvell's contributions and recognized Alm's impact.