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Annual Report 2025

Advancing the world through engineering

Purpose and core values
Two men looking at a computer screen with a software model (photo)

Year highlights

Strong organic order intake growth, driven by mining and other strategic key segments such as aerospace, defense, medical, and consumer electronics

Organic order intake and revenues grew by 11 percent and 5 percent, respectively, at fixed exchange rates

Adjusted operating margin of 19.3 percent (19.2), despite significant currency headwinds. Tariffs fully mitigated

Cash conversion of 95 percent (95)

Sandvik continued to introduce numerous innovations

Solid progress in digital solutions with double-digit growth in our software businesses (Digital Mining Technologies and Intelligent Manufacturing)

Strong momentum in surface mining

Strengthened presence in demolition and recycling through acquisition of OSA Demolition

Largest ever battery-electric mining equipment order received

All-time low Total Recordable Injury Frequency Rate at 2.3 (3.0)

Launch of new core values and 2030 strategy

Review 2025

Sandvik can look back on a successful 2025. Watch our video where we summarize financial results and major events.

Sustainable business

Sandvik contributes to increased sustainability through its products and services, and has ambitious sustainability targets. Watch this video where we summarize our sustainability year.

Business areas

Engineers in the control room of the Sandvik test mine in Tampere (Finland) (photo)

Mining

A global leading supplier of equipment, and tools, parts, service, digital solutions and technologies that drive sustainability for the mining and infrastructure industries.

Revenue growth (CAGR)
2019–2025

10%

Mining
Robert Mendes, Senior Business Development Specialist, and Bruno Almeida, Equipment Sales Manager, visit the Serra Norte Mine in the Carajás region (Brazil). In the background is a Sandvik CS660 crusher (photo)

Rock Processing

A global leading supplier of equipment, service and technical solutions for processing rock and minerals in the mining and infrastructure industries.

Revenue growth (CAGR)
2019–2025

6%

Rock Processing
Nicola Losurdo, Center Technician, operates a CNC machine at Sandvik Coromant in Milan (Italy) (photo)

Machining and Intelligent Manufacturing1)

A global leading manufacturer of tools and tooling systems for advanced metal cutting, digital manufacturing and software solutions, as well as metal powder.

Revenue growth (CAGR) 2019–2025

Machining

1%

Intelligent Manufacturing

38%

Machining and
Intelligent Manufacturing

Revenues by customer segment

51%19%9%5%4%12% Mining Gen. Engineering Infrastructure Automotive Aerospace Other

Revenues by region

26%25%18%12%12%7% North America Europe Asia Australia Africa/Middle East South America

Targets and target fulfillment

Sandvik has long-term financial targets focusing on growth, profitability, financial position and dividend.

Financial targets

Financial information

This section includes Financial statements, Notes, Board statement on dividend proposal, Proposed appropriation of profits, and Auditor’s report.

Financial information

Advancing to 2030 strategy

Sandvik has presented an updated Group strategy – Advancing to 2030 – centered around five strategic objectives.

Advancing to 2030 strategy

Global commitments and indices

We support a number of international principles and commitments and are included in several sustainability indices.

Global commitments and indices

ESRS index

The report has been prepared in accordance with the European Sustainability Reporting Standards (ESRS).

ESRS content index

Downloads

Download Sandvik Annual Report 2025 as a pdf file. All tables are available as Excel files.

Downloads