Sandvik provides updated comparative figures
On April 11, 2022, Sandvik announced updates to its financial reporting methods, including the treatment of Sandvik Materials Technology as discontinued operations. From Q1 2022, adjusted EBITA will replace adjusted EBIT as the primary profit metric, with M&A transaction costs reported as items affecting comparability. Key comparative figures for Q1 2021 through FY 2021 reveal fluctuating order intake, revenues, and profit margins, indicating a mixed financial performance. The upcoming Annual General Meeting is set for April 27, 2022.
- Order intake increased from 22,206 in Q1 2021 to 26,772 in Q4 2021.
- Adjusted EBITA for FY 2021 reached 17,816.
- Revenue growth is slowing with Q1 2022 revenues expected to decline based on previous periods.
- Adjusted EBITA margin decreased from 21.4% in Q1 2021 to 19.9% in Q4 2021.
SANDVIKEN, Sweden, April 11, 2022 /PRNewswire/ -- Sandvik provides updated comparative figures for the following changes in the reporting:
Treatment of Sandvik Materials Technology in financial statements:
On March 23, Sandvik announced that The Sandvik Board of Directors had decided to propose the distribution and listing of Sandvik Materials Technology (SMT) to the Annual General Meeting, which takes place on April 27, 2022. As a consequence, Sandvik will from the first quarter 2022 report SMT as discontinued operations and as assets and liabilities held for distribution in accordance with IFRS 5.
Adjusted EBITA and M&A transaction costs:
As of the first quarter 2022, adjusted EBITA will replace adjusted EBIT as the key operating profit metric. Furthermore, M&A transaction costs will from 2022 be reported as items affecting comparability (IAC). Adjusted EBITA for comparative periods in 2021 has been updated accordingly.
Updated comparative figures for continuing operations and adjusted EBITA*:
Q12021 |
Q22021 |
Q32021 |
Q42021 |
FY2021
| |
Order intake |
22,206 |
21,816 |
22,870 |
26,772 |
93,665
|
Organic growth, order intake, % |
18 |
39 |
20 |
21 |
24
|
Revenues |
18,528 |
20,136 |
21,725 |
25,311 |
85,700
|
Organic growth, revenues, % |
4 |
27 |
15 |
16 |
15
|
Adj. EBITA |
3,960 |
4,192 |
4,620 |
5,043 |
17,816
|
Adj. EBITA margin |
21.4 |
20.8 |
21.3 |
19.9 |
20.8
|
M&A costs adjusted for on IAC |
-44 |
-17 |
-194 |
-173 |
-429
|
EBIT |
3,920 |
4,399 |
4,185 |
4,771 |
17,275
|
EBIT margin |
21.2 |
21.8 |
19.3 |
18.8 |
20.2
|
Profit before tax |
3,653 |
4,271 |
4,146 |
4,748 |
16,818
|
Profit for the period |
2,885 |
3,159 |
3,607 |
3,436 |
13,087
|
Net working capital, % |
23.8 |
23.2 |
23.0 |
21.4 |
22.7
|
No. of employees |
33,290 |
33,712 |
36,758 |
38,669 |
38,669
|
*Best estimates excluding SMT, not adjusted for Group common items
Stockholm, April 11, 2022
Sandvik AB
For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.
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Sandvik provides updated comparative figures for continuing operations |
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SOURCE Sandvik
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