Sandvik has reported revenues of SEK 25,163 million in Q3 2019, compared to SEK 24 283 million in the same period of the previous year.
Order intake was SEK 24,992 million, up from SEK 24 192 million in 2018.
‘Demand in the long-cycle business in the mining and oil and gas industries remained strong, while customer activity in the short-cycle business softened significantly, primarily related to the automotive and general engineering segments,’ said Björn Rosengren, president and CEO of Sandvik. ‘Overall, order intake remained largely stable year-on-year, declining -1%. This is the result of a sharp downturn in Sandvik Machining Solutions, while both Sandvik Mining and Rock Technology and Sandvik Materials Technology reported mid-single digit growth. Orders decreased in both Europe and Asia, while an increase was reported in North America, supported by the receipt of large orders in Sandvik Materials Technology. […] We continued to pursue the process to internally separate Sandvik Materials Technology from the remainder of the Sandvik Group, generating costs of -50 million SEK reported as items affecting comparability. The Board’s decision to explore the possibility of a separate listing of Sandvik Materials Technology remains unchanged.’
This story uses material from Sandvik, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.