Sandvik AB has reported invoiced sales during 2012 were up 5% year-on-year totalling 98.5 billion SEK (at fixed exchange rates). Order intake, however, declined 1% compared with the preceding year, and totalled 97.9 billion SEK.
“The year 2012 was eventful for Sandvik. We celebrated our 150th anniversary, our new strategy was implemented and market conditions went from strong to more challenging. I am very pleased with the significant improvements achieved during the year in our two turnaround cases: Sandvik Materials Technology and Sandvik Construction,“ stated Sandvik’s President and CEO Olof Faxander.
“Toward the end of 2012, additional structural measures were announced with the aim of further improving the company and adjusting costs in response to the weaker demand,” reported Sandvik. Consequently, operating profit was adversely affected by nonrecurring charges and amounted to 13,490 million SEK (10,148), or 13.7% (10.8) of invoiced sales.
Posted by: Paul Whittaker, Editor ipmd.net, [email protected]