Sandvik logo

P3 Personnel information and remuneration to management

The average number of employees was 3,680 (3,711) of which 28 percent were women (28). All personnel in the Parent Company are based in Sweden.

Wages, salaries, other remuneration and social costs

 

2022

2023

Wages, salaries and other remuneration

2,520

2,896

Social costs

910

1,005

Pension costs

656

788

Total

4,086

4,689

Of which to Board of Directors, President and members of Group Executive Management1)

 

 

Salaries and other remunerations

39

44

Variable salary

4

13

Pension costs

15

15

1)

The Parent Company’s pension liability relating to these persons amounted to SEK 3 million (3).

Gender distribution in senior management

Proportion of women

%

2022

2023

Senior management

30

30

Other senior executives

50

44

For information regarding incentive programs see note G4.

§ Accounting principles

Employee benefits

The Parent Company calculates expenses for defined-benefit pension plans differently from the manner prescribed in IAS 19. The Parent Company applies the Act on Income Security and regulations issued by the Swedish Financial Supervisory Authority, which is a prerequisite for income tax purposes. Compared to IAS 19, the most significant differences relate to the determination of the discount rate and the fact that the obligation is calculated based on the current salary level disregarding assumptions about future levels.