Sandvik logo

Annual Report 2023

“We make the shift – advancing the world through engineering”

A value creating strategy

“We make the shift – advancing the world through engineering”

A value creating strategy

Review 2023

Sandvik performed well in 2023 and we made important strategic progress. Watch our video where we summarize financial results and major events.

Sustainable business

Sandvik updated its sustainability strategy and the Science Based Targets initiative approved our greenhouse gas targets. Watch the video where we summarize our sustainability year.

Business areas and divisions

Ranger™ drill rig in a quarry. (photo)

Sandvik Mining and Rock Solutions

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

Share of revenues


Share of adjusted EBITA



  • Digital Mining Technologies
  • Ground Support
  • Load and Haul
  • Mechanical Cutting
  • Parts and Services
  • Rock Tools
  • Rotary Drilling
  • Surface Drilling
  • Underground Drilling
Read more
A close-up of a crusher  (photo)

Sandvik Rock Processing Solutions

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

Share of revenues


Share of adjusted EBITA



  • Stationary Crushing and Screening
  • Mobile Crushing and Screening
  • Attachment Tools
Read more
Metal-cutting inserts (photo)

Sandvik Manufacturing and Machining Solutions

A market-leading manufacturer of tools and tooling systems for advanced metal cutting, expanding into digital manu­facturing and software solutions, as well as technologies such as additive manu­facturing and in-line metrology.

Share of revenues


Share of adjusted EBITA


Sandvik Machining Solutions1)

  • Sandvik Coromant
  • Seco
  • Walter
  • Dormer Pramet
  • Powder Solutions
  • Tool Flow Solutions
  • GWS2)

Sandvik Manufacturing Solutions1)

  • Design and Planning Automation
  • Industrial Metrology

1) Business area segments
2) As of January 1, 2024

Adjusted EBITA is excluding Group activities and items affecting comparability.

Read more

Revenues by customer segment

51%20%10%7%4%8% Mining Engineering Infrastructure Automotive Aerospace Other

Revenues by market area

26%25%17%13%12%7% Europe North America Asia Australia Africa/Middle East South America

Targets and target fulfillment

Sandvik delivered on its targets with a revenue growth of 9 percent and an adjusted EBITA margin of 20.0 percent.

Financial and sustainability targets

Financial information

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

Financial information

UN Sustainable Development Goals

Sandvik is committed to the UN Sustainable Development Goals. We have defined our positive and negative impact in the value chain.

Contribution to the sustainable development goals

Additional services

Environmental Footprint

Read about our transition plan to net zero.


GRI Index

Sandvik reports according to the Global Reporting Initiative, GRI Standards 2021.

GRI Index


Download Sandvik Annual Report 2023 as a pdf file. All tables are available as Excel files.