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Sandvik's Q2 2024 interim report shows mixed results. Order intake increased by 3% at fixed exchange rates to SEK 32,354 million, while revenues declined by 2% to SEK 31,419 million. The company's adjusted EBITA decreased to SEK 6,149 million, with a margin of 19.6%, down from 20.5% in the previous year. Adjusted EBIT also declined to SEK 5,688 million, with a margin of 18.1%. Despite these challenges, profit for the period increased to SEK 3,462 million, with earnings per share rising to SEK 2.76. Free operating cash flow decreased to SEK 4,198 million. The report indicates a slight decline in overall performance, with some positive aspects in order intake and profit growth.

Sandvik has secured a significant order for underground mining equipment from Evolution Mining, an Australian-based company. The order, valued at SEK 300 million, was booked in the second quarter of 2024. Deliveries are set to begin in the third quarter of 2024 and will continue over the next 12 months. The equipment includes advanced loaders, trucks, and development drills to be used in various Australian mines. Mats Eriksson, President of Sandvik Mining and Rock Solutions, expressed satisfaction in strengthening their partnership with Evolution Mining.

Sandvik, a leading global engineering company, will release its second quarter results for 2024 on July 19 at approximately 12:30 PM CEST. The results will be presented during a combined webcast and conference call at 2:00 PM CEST by Stefan Widing, President and CEO, along with CFO Cecilia Felton. Presentation slides will be available on the company's website from 1:30 PM CEST. The report can be accessed via webcast on Sandvik's website, and the conference call can be joined using specified dial-in numbers for Sweden, the UK, and the US. For more information, investors and media can contact Louise Tjeder, VP Investor Relations, or Johannes Hellström, Press and Media Relations Manager.

Sandvik has secured a significant order for underground mining equipment from Cimertex, a distributor in Portugal. The equipment, valued at approximately SEK 340 million, will be supplied to Almina Minas do Alentejo S.A.

Deliveries are set to commence in Q3 2024 and continue through 2025. The order includes Toro™ TH663i trucks, Toro™ LH621i loaders, Sandvik DS411 rock bolters, and Sandvik DL421 longhole production drills. A significant portion of the trucks will feature the AutoMine® Fleet automation system.

Additionally, the order incorporates a seven-year full aftermarket service contract. This agreement will enable Almina to double its current production capacity in the Iberian pyrite belt, positioning it as one of the largest Sandvik fleets in Europe.

Mats Eriksson, President of Sandvik Mining and Rock Solutions, expressed satisfaction in strengthening their relationship with Cimertex and supporting Almina in enhancing productivity and reducing costs.

Sandvik announced a significant order to supply a fleet of intelligent underground drills to a mining customer in Southeast Asia. The order, valued at approximately SEK 500 million, was booked in Q2 2024. The agreement includes development drills, rock bolters, and longhole drills. Deliveries are scheduled to begin in Q3 2024 and will continue through Q2 2025.

Stockholm, July 1, 2024 - Sandvik has finalized the acquisition of a majority stake in Suzhou Ahno Precision Cutting Tool Technology, a leading China-based company, from Ningbo Baosi Energy Equipment and related parties. Ahno, founded in 2002 and headquartered in Suzhou, China, employs approximately 1,200 individuals. In 2023, Ahno generated revenues of around CNY 812 million (1.2 BSEK) primarily from the Chinese market. This acquisition will be integrated into Sandvik Machining Solutions. The impact on Sandvik's EBITA margin will be , but it is expected to positively affect Sandvik's earnings per share, excluding non-cash amortization effects from business combinations.

On June 4, 2024, Sandvik announced the acquisition of PDQ Workholding, a US-based specialist in custom workholding fixtures and tooling for various industries, including aerospace, automotive, and energy. PDQ will be integrated into Walter, a division within Sandvik Manufacturing and Machining Solutions. This acquisition aims to strengthen Sandvik’s presence in North America, enhance relationships with machine tool builders, and provide early access to component projects. PDQ, founded in 2010, operates from two manufacturing sites with 107 employees and reported a revenue of USD 36 million in 2023. The acquisition is expected to have a impact on Sandvik's EBITA margin and earnings per share.

Sandvik has secured a significant order from Hindustan Zinc for underground mining equipment worth approximately SEK 345 million. The order was booked in Q2 2024, with deliveries scheduled through the end of 2024. This contract strengthens the long-standing partnership between the two companies and includes development drills, production drills, trucks, and loaders. Additionally, the deal offers substantial aftermarket value, enhancing productivity, safety, and sustainability in Hindustan Zinc's operations.

Mats Eriksson, President of Sandvik Mining and Rock Solutions, expressed his satisfaction with the expanded partnership and highlighted the benefits of Sandvik's advanced mining solutions.

Sandvik has finalized the acquisition of Almü, a Germany-based cutting tools and solutions provider. Almü, founded in 1978, has 44 employees and generated approximately 6 MEUR in revenues in 2022. The acquisition will be reported in Sandvik Coromant, impacting Sandvik's EBITA margin and earnings per share minimally.