Sandvik Says Timing Effects Hit Q1 Results

Apr 22, 202411:01 UTC

Sandvik AB SAND:

ESTIMATED THAT TRANSACTION AND TRANSLATION CURRENCY EFFECTS WILL HAVE AN IMPACT OF ABOUT SEK +120 MILLION ON EBITA FOR THE SECOND QUARTER OF 2024, COMPARED WITH THE YEAR-EARLIER PERIOD
ROCK PROCESSING SOLUTIONS: DEMAND IN MINING REMAINED AT STABLE AND HIGH LEVELS
FIRST QUARTER SHOWED A MIXED PICTURE AND WAS ADVERSELY IMPACTED BY CALENDAR AND TIMING EFFECTS
LOOKING BEYOND DYNAMICS WITHIN QUARTER, WE SEE STABLE TO POSITIVE SENTIMENT AMONG OUR CUSTOMERS AND CONTINUED INVESTMENT WILLINGNESS
ROCK PROCESSING SOLUTIONS: INFRASTRUCTURE CONTINUED TO BE CHALLENGING DUE TO LOW CONSTRUCTION ACTIVITY, MAINLY IN EUROPE AND ASIA, AND DE-STOCKING AMONG DEALERS IN NORTH AMERICA
DEMAND IN SANDVIK MANUFACTURING AND MACHINING SOLUTIONS WAS MIXED
US CONTINUED TO DEMONSTRATE RESILIENCE, EUROPE, IN PARTICULAR GERMANY, REMAINED WEAK
ROCK PROCESSING SOLUTIONS: ORGANIC ORDER INTAKE GROWTH WAS NOTED IN SOUTH AMERICA OF 22%
ROCK PROCESSING SOLUTIONS: WHILE ORDER INTAKE DECLINED IN ASIA, INDIA GREW STRONGLY
ROCK PROCESSING SOLUTIONS: EUROPE AND NORTH AMERICA WERE DOWN BY 4% AND 15%, RESPECTIVELY
WE SAW POSITIVE SIGNS OF RECOVERY IN CHINA
BOTH SANDVIK MINING AND ROCK SOLUTIONS AND SANDVIK ROCK PROCESSING SOLUTIONS NOTED STRONG DEMAND IN SOUTH AMERICA AND INDIA IN ASIA