Strategy and growth

Shift to growth

Increasing sales in parts, services and consumables is a key part of our growth strategy. While equipment sales were somewhat affected by supply chain constraints, parts, services and consumables sales grew significantly in both mining and infrastructure in all regions, except Europe. In 2022 it accounted for 55 (52) percent of sales.

The acquisition of the mining part of Schenck Process Group (SP Mining) will increase our sales significantly. SP Mining has a strong global footprint and is the market leader in Australia. It will be fully branded as Sandvik, further strengthening our offering for high-capacity screens and feeders for heavy duty mining applications. This enables us to go to our customers with a full solution that includes parts, services and consumables, significantly strengthening our customer value in the mining sector.

We are expanding into new markets, particularly in the US. We do this by focusing on our indirect channels towards the infrastructure industry, where we have some 20,000 customers worldwide. As a result of this increased focus we have exceeded our target of growing sales 20 percent faster than in our direct marketing channels. We also aim to increase our OEM market share (when companies buy our products and brand them as their own).

Digital shift

We aim to have 60 percent of our customers utilizing our automated and digital solutions by 2025. Throughout 2022 we continuously worked on automation and developed new functionality for our digital assistant platform SAM™. Through the platform our customers can optimize their operations and gain operational insights for improved productivity and performance. Launched in 2021, the platform provides different levels of functionality, including connected functionalities, that provide real time production data and location, communication and e-commerce services. The platform was well received by customers and customers working with us on pilot applications for the future are also very positive.