Operating profits for Sandvik AB in the first half of 2012 amounted to 8,031 million SEK (6,834 million SEK in 2011), the highest level recorded to date.
The operating margin was 15.8% (15.0) of invoiced sales in the period January – June 2012. Changed exchange rates had a positive impact of 250 million SEK on earnings during the first half of the year, compared with a year earlier, while changed metal prices had a negative impact of 118 million SEK.
Order intake increased to 55,084 million SEK (50,262) up 10% in total and 7% in fixed exchange rates for comparable units. Invoiced sales were 50,776 million SEK (45,451), up 12% in total and 9% in fixed exchange rates for comparable units.
Sandvik stated that the global market demand improved during the first half of the year compared with the first six months of 2011, although uncertainty increased towards the end of the period.
The improvement was most tangible for Sandvik Mining and North America in general.
Posted by: Paul Whittaker, Editor ipmd.net, [email protected]