Sandvik 2Q Beats Views, Sees Increased Uncertainty Ahead
July 19 2012 - 2:56AM
Dow Jones News
Swedish engineering company Sandvik AB (SAND.SK) Thursday
reported a forecast-beating rise in second-quarter net profit,
driven by an ongoing efficiency program, but said economic
uncertainty had increased, especially in Europe, and that it was
entering the third quarter with more caution.
MAIN FACTS:
-2Q net profit rose to SEK2.78 billion from SEK2.11 billion a
year earlier and against expectations for SEK2.51 billion.
-2Q revenue rose to SEK25.94 billion from SEK23.42 billion and
against expectations for SEK25.24 billion.
-2Q Ebit rose to SEK4.21 billion from SEK3.56 billion and
against expectations for SEK4.01 billion, its highest quarterly
profit to date.
-2Q order intake rose to SEK26.19 billion from SEK25.36 billion
a year earlier.
-2Q operating margin rose to 16.2% from 15.2%.
-Overall demand remained favourable for its Machining Solution
and Mining units, while the Materials Technology and Construction
areas remained challenging.
-The SMT unit saw a drop in order intake of 9% on the year to
SEK4.01 billion.
-European demand weakened slightly while North and South America
remained strong.
-Asian demand stayed strong but with significant variations
between segments.
-Shares closed Wednesday at SEK86.85.
-Write to Anna Molin at anna.molin@dowjones.com; Twitter:
@DowJonesNordics
Order free Annual Report for SANDVIK AB
Visit http://djnweurope.ar.wilink.com/?ticker=SE0000667891 or
call +44 (0)208 391 6028
Order free Annual Report for SANDVIK AB
Visit http://djnweurope.ar.wilink.com/?ticker=US8002122013 or
call +44 (0)208 391 6028
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
Sandvik AB (PK) (USOTC:SDVKY)
Historical Stock Chart
From Jul 2024 to Jul 2024
Sandvik AB (PK) (USOTC:SDVKY)
Historical Stock Chart
From Jul 2023 to Jul 2024