Development in business areas

On January 1, 2022, the business area Sandvik Materials Technology (SMT) was classified as assets held for distribution and presented under Discontinued operations. On August 31, 2022, Sandvik distributed SMT to the owners under the name Alleima AB. During 2022, Sandvik’s continued operations consisted of three business areas: Sandvik Mining and Rock Solutions, Sandvik Rock Processing Solutions and Sandvik Manufacturing and Machining Solutions.

Sandvik Mining and Rock Solutions

Sandvik Mining and Rock Solutions is a global leading supplier of equipment and tools, parts, service, digital solutions and sustainability-driving technologies for the mining and infrastructure industries. Order intake for the business area amounted to SEK 62,895 million (47,460), an increase of 9 percent at fixed exchange rates for comparable units. Revenue totaled SEK 56,843 million (41,409), an increase of 11 percent at fixed exchange rates for comparable units. The EBITA margin was 18.3 percent (20.9) of revenues and the adjusted EBITA margin was 20.5 percent (21.1) of revenues. The items affecting comparability of SEK –1,264 million (–101) were primarily charges related to the wind-down of operations in Russia during 2022.

Sandvik Rock Processing Solutions

A leading supplier of equipment, service and technical solutions for processing rock and minerals in the mining and infrastructure industries. Order intake for the business area amounted to SEK 9,874 million (8,524), a decrease of –3 percent at fixed exchange rates for comparable units. Revenue totaled SEK 9,587 million (7,610), an increase of 5 percent at fixed exchange rates for comparable units. The EBITA margin was 13.9 percent (16.5) of revenues and the adjusted EBITA margin was 16.0 percent (16.6) of revenues. The items affecting comparability were SEK –201 million (–10) mainly related to M&A costs and the wind-down of operations in Russia.

Sandvik Manufacturing and Machining Solutions

Sandvik Manufacturing and Machining Solutions is a market-leading manufacturer of tools and tooling systems for advanced metal cutting, expanding into digital manufacturing and software solutions, as well as disruptive technologies like additive manufacturing and in-line metrology. Order intake for the business area amounted to SEK 46,428 million (37,680), an increase of 4 percent at fixed exchange rates for comparable units. Revenue totaled SEK 45,901 million (36,681), an increase of 5 percent at fixed exchange rates for comparable units. The EBITA margin was 19.8 percent (23.0) of revenues and the adjusted EBITA margin was 21.8 percent (23.1) of revenues. The items affecting comparability of SEK –935 million (–36) were mainly related to the wind-down of operations in Russia, M&A costs, and implementation of structural measures to support resilience ambitions.