Sandvik reports increase in operating profit for 2016

News
March 20, 2017

March 20, 2017

Sandvik AB, Stockholm, Sweden, has published its Annual Report for 2016. The company stated that a number of customer segments were affected by a challenging macro-economic situation in 2016, reporting that order intake across all business areas amounted to SEK 84,233 million, a year on year decrease of 1% at fixed exchange rates for comparable units. Operating profit for 2016 was, however, reported to be SEK 9,657 million, up from SEK 6,062 million in 2015 and corresponding to 11% of revenue, compared with 7% in the previous year.

According to the report, a new strategic direction established in 2016 focused on decentralisation, moving profit and responsibility to product areas and establishing new management teams for many of its businesses. Sandvik stated that it altered its business area structure to focus on core operations. A key aspect of this was the merger of Sandvik Mining and Construction into one business, renamed Sandvik Mining and Technology.

The divestment process of Sandvik’s Mining Systems, Hyperion and Process Systems continued throughout the financial year. In 2017, the company has reported its plans to invest in and pursue new acquisitions in line with its core business areas. Sandvik’s board of directors also reported that it will continue to focus on its core capabilities going forward, such as material and application knowledge.

Following movements in metal prices and successful results in the Materials Technology sector, the year also saw Sandvik initiate work towards its new Additive Manufacturing segment, which began operation in January 2017. This new business is intended to fully commercialise Sandvik’s position in the AM market.

“We are on track to fulfil our ambitious targets by making continuous improvements throughout our business to achieve stability, profitability and growth. Our increased decentralisation and the changes we are now focusing on are the foundation for our capability to deal with anticipated market trends and variations in the business climate. We will continue to be a market leader, secure even better results and market shares, as well as continue to be an attractive company to work for and to own,” stated Sandvik President and CEO Bjӧrn Rosengren.

www.home.sandvik/en/

News
March 20, 2017

In the latest issue of PM Review…

Download PDF

Extensive Powder Metallurgy industry news coverage, and the following exclusive deep-dive articles and reports:

  • Phoenix Sintered Metals: A story of transformation, growth and community from America’s PM heartland
  • World PM2024 Yokohama: The stage is set for the PM industry to find a path to sustainable growth
  • The state of Europe’s hard magnets industry and the challenge of optimising the mass production of Nd2Fe14B permanent magnets

The latest news from the world of metal powders, delivered to your inbox

Don't miss any new issue of PM Review, and get the latest industry news. Sign up to our weekly newsletter.

Sign up

Join our community

Discover our magazine archive…

The free-to-access PM Review magazine archive offers unparalleled insight into the world of Powder Metallurgy from a commercial and technological perspective through:

  • Reports on visits to leading PM part manufacturers, metal powder manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.

 

Browse the archive

 

Looking for PM production equipment, metal powders, R&D support and more?

Discover suppliers of these and more in our
advertisers’ index and buyer’s guide, available in the back of PM Review magazine.

  • Powders & materials
  • Powder process, classification & analysis
  • PM products
  • Atomisers & powder production technology
  • Compaction presses, tooling & ancillaries
  • Sintering equipment & ancillaries
  • Post-processing
  • Consulting & toll sintering
View online
Share via
Copy link