Latest news with #Sandvik
Mint
2 days ago
- Business
- Mint
Swedish Industry's Tariff Navigation Clouded by Currency Hit
(Bloomberg) -- Currency headwinds are darkening the outlook of Sweden's industrial companies, clouding a fairly resilient performance in the face of US President Donald Trump's trade war. As the country's leading sector — industrial companies make up almost half of the 30-member OMX index's weight — its fate is crucial for Sweden. Atlas Copco AB took the biggest hit thus far with a 1.5 billion kronor ($156 million) impact on profit in the second quarter. The air compressor and vacuum manufacturer's earnings for the period missed analyst expectations. Shares fell as much as 10% in Stockholm trading. The currency impact will be 'difficult' to mitigate, Chief Executive Officer Vagner Veloso da Silva Rego said in an interview, while customer hesitancy is also growing in the face of uncertainty. 'We see a lot of discussions, but fewer decisions,' he said. 'Customers want to have a bit more clarity before they make decisions, especially for large equipment. This is where we suffered the most.' Fellow industrials fared better for now as seals and bearings manufacturer SKF AB, lawn-mower maker Husqvarna AB and mining equipment provider Sandvik AB all reported robust numbers, having mitigated the impact from tariffs by implementing price increases and rerouting trade flows. Though the hit from currency fluctuations is hard to ignore. 'We are living in a volatile world and currencies are something we just have to work with,' SKF CEO Rickard Gustafson told Bloomberg. 'It's not just the Swedish Krona. We have large flows from euro to dollars and euros to China.' The group's adjusted operating profit beat estimates for the second quarter as aerospace and electric vehicle demand rose, though was down year-on-year due to 'significant' currency headwinds last quarter, with a further 500 million kronor hit expected on third-quarter earnings. Meanwhile, Husqvarna — which also beat estimates — said it continued to experience uncertainty related to tariffs and noted 'significant currency fluctuations,' which particularly impacted North American markets, while Sandvik flagged an 800 million kronor hit on third-quarter profit from currency fluctuations earlier this week. The group also warned of trade war-induced volatility with tariffs remaining a question mark on the investment side, Sandvik CEO Stefan Widing said on Wednesday's earnings call. --With assistance from Jonas Ekblom. (Adds details from Atlas Copco from third paragraph) More stories like this are available on
Yahoo
4 days ago
- Business
- Yahoo
Sandvik: Interim report second quarter 2025
STOCKHOLM, July 16, 2025 /PRNewswire/ -- Order intake SEK 32,206 million (32,354) Order intake, at fixed exchange rates, increased by 10% Revenues SEK 29,700 million (31,419) Revenue growth, at fixed exchange rates increased by 4% Adjusted EBITA SEK 5,629 million (6,149) Adjusted EBITA margin 19.0% (19.6) Adjusted EBIT SEK 5,194 million (5,688) Adjusted EBIT margin 17.5% (18.1) Adjusted profit before tax SEK 4,855 million (5,124) Profit for the period SEK 3,216 million (3,462) Adjusted profit for the period SEK 3,713 million (3,897) Earnings per share, diluted SEK 2.56 (2.76) Adjusted earnings per share, diluted SEK 2.96 (3.10) Free operating cash flow SEK 5,090 million (4,198) Additional information may be obtained from Sandvik Investor Relations, phone +46 70 782 63 74 (Louise Tjeder). A webcast and conference call will be held on July 16, 2025, at 1:00 PM CEST. Information is available at Stockholm, July 16, 2025Sandvik Aktiebolag (publ) Stefan WidingPresident and CEO This information is information that Sandvik AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at about 11:30 AM CEST on July 16, 2025. This information was brought to you by Cision The following files are available for download: Interim Report Q2 2025 View original content: SOURCE Sandvik
Yahoo
04-07-2025
- Business
- Yahoo
Sandvik gains Oyu Tolgoi's $28m order for underground mining equipment
Sandvik has secured an order valued at Skr270m ($28.3m) from Oyu Tolgoi LLC for underground mining equipment. The equipment, including loaders and trucks, will be used at the Oyu Tolgoi copper-gold mine in the South Gobi Desert, Mongolia. The order was recorded in the second quarter of 2025, with deliveries scheduled to commence in October and continue until November 2026. Sandvik Mining business area president Mats Eriksson stated: 'Sandvik loaders and trucks have consistently delivered industry-leading performance for Oyu Tolgoi, and we are very pleased to be able to continue to support safety, productivity and cost efficiency in the mining operations.' Oyu Tolgoi LLC, a joint venture between Rio Tinto and the government of Mongolia, operates the Oyu Tolgoi mine, which is considered one of the world's largest known copper-gold deposits. The partnership structure of Oyu Tolgoi comprises the government of Mongolia with a 34% stake and Rio Tinto with 66%. Rio Tinto also manages the operations. The Oyu Tolgoi mine has been producing copper concentrate since 2013, when its copper concentrator, Mongolia's largest industrial complex, began operations. The initiation of underground production in March 2023 has elevated Oyu Tolgoi to a leading position among global copper producers, with an expected peak production of 500,000 tonnes per annum (tpa). In addition to the mining equipment order, Sandvik Mining has also recently obtained IEC 62443-4-1 certification at Maturity Level 2. This certification underscores Sandvik's commitment to embedding cybersecurity measures into its product design and development processes. The IEC 62443-4-1 standard is an internationally recognised benchmark that ensures secure product development practices within the industrial automation and control systems sector. "Sandvik gains Oyu Tolgoi's $28m order for underground mining equipment" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
24-06-2025
- Business
- Yahoo
Sandvik implements the first phase of restructuring initiatives in Machining
STOCKHOLM, June 24, 2025 /PRNewswire/ -- On May 20, Sandvik announced that restructuring measures will be implemented in the business area Machining during the course of the 2025-2030 period (Sandvik Capital Markets Day: Advancing to 2030), aimed at driving operational efficiency, margin resilience and support growth opportunities. The measures include optimizing the structure of the organization and consolidation of productions units. Today, Sandvik announces the implementation of the first phase of these initiatives. The estimated annual savings from these measures is about SEK 380 million. Around 40% of the run-rate savings will be realized by the end of 2025 and 90% run rate will be achieved by the end of 2026. Costs related to the restructuring are expected to amount to SEK 570 million, which will be reported as non-recurring costs and as items affecting comparability in EBITA in the second quarter 2025. Of the total charge, approximately SEK 20 million are non-cash items and the remaining mainly refers to redundancies of some 350 employees in total. Stockholm, June 24, 2025Sandvik 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 This information was brought to you by Cision The following files are available for download: Sandvik implements the first phase of restructuring initiatives in Machining View original content: SOURCE Sandvik
Yahoo
20-06-2025
- Business
- Yahoo
Sandvik Mining achieves cybersecurity certification for product development processes
Sandvik Mining has been awarded IEC 62443-4-1 certification at Maturity Level 2, signifying a robust integration of cybersecurity measures into its product design and development. Achieving Maturity Level 2 certification indicates that Sandvik proactively incorporates cybersecurity into its product design, development, testing and maintenance procedures. The IEC 62443-4-1 standard is a globally recognised benchmark for secure product development within industrial automation and control systems. It ensures that products are crafted with cybersecurity considerations from inception, mitigating risks such as cyberattacks and data breaches throughout their life cycle. Sandvik's "secure-by-design" philosophy embeds stringent security protocols early in the equipment and digital solutions design process, inherently reducing vulnerability to cyber threats. This approach prioritises the protection of mining operations without impeding productivity. Sandvik's clientele can benefit from structured and prompt responses to emerging cyber threats, maintaining the security of their equipment throughout its operational life. Sandvik Mining president of digital mining technologies Riku Pulli said: 'We are proud to be among the first in our sector to attain IEC 62443 certification. 'This certification reduces cyber risk and operational disruption, enhances safety and regulatory compliance, strengthens supply chain resilience and provides security assurance for our customers. It emphasises our commitment to cybersecurity and is a signal of trust and readiness in an increasingly connected and threat-prone industrial environment.' The certification encompasses processes for patch management, vulnerability handling and security updates. This achievement positions Sandvik favourably in anticipation of upcoming cybersecurity regulations such as the EU Cyber Resilience Act, which will mandate manufacturers to ensure cybersecurity across a product's life cycle. Sandvik is progressing towards additional certifications to further substantiate the security of its equipment and software solutions, reinforcing customer confidence in deploying Sandvik technologies. Moreover, Sandvik Mining has introduced its AutoMine Surface Fleet solution, a system aimed at revolutionising autonomous drill rig operations. The system is engineered to manage more than 15 Sandvik surface i-series drill rigs, enabling remote operations from any connected location, thereby enhancing flexibility and minimising downtime, especially during shift changes. "Sandvik Mining achieves cybersecurity certification for product development processes" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
