Headlines

Sandvik reports a net company profit of SEK 1.9 billion (US $257 million) for the second quarter 2010 fiscal year. This is an improvement over the same period for 2009, in which the company reports a loss of SEK 2 billion. Revenues for the group were up 14 percent year on year, increasing from SEK 18 billion to 20.6 billion ($2.79 billion).

For the second quarter, Sandvik reports an increase in order intake and invoice sales of 43 percent and 15 percent respectively at fixed exchange rates. Demand developed positively for Sandvik Materials Technology during the quarter. Order intake for products to the energy sector and the mining industry remained strong and the improvement continued for products to the automotive, electronics and parts of the consumer industry.

For the company’s Sandvik Materials Technology segment, order intake was up 34 percent, including a positive effect of about 11 percentage points related to changed metal prices. Invoiced sales for the segment increased 23 percent, including a positive effect of about 9 percentage points related to changed metal prices.

“Demand for Sandvik’s products continued to improve in the second quarter,” says Sandvik’s President and CEO Lars Pettersson. “Order intake exceeded invoiced sales by SEK 2.5 billion, resulting in a strengthening of the order books of both Sandvik Mining and Construction and Sandvik Materials Technology. Lower cost levels, combined with higher sales and production volumes, a favorable product mix and positive metal price effects are the main reasons for the improved result.”

0 Comment(s) Post a Comment   Be the first to comment on this item.  Comment on this item: Name: Company: Email: Comment: Security Code: Reload Image Enter the text shown in the box above. Comments that include profanity, personal attacks or antisocial behavior such as "spamming," "trolling," or any other inappropriate material will not be posted to the site and/or will be removed from the site. You are fully responsible for the content you post. Neither the Association nor the publisher of this website, Data Key Communications, Inc, are responsible for the contents thereof or the opinions of the contributors. Contact and company information entered must be true and accurate. By submitting a comment, you agree to these terms and conditions.

More Headlines Showing Page 238 of 272 ‹‹First   ‹Previous Next›   Last›› 9/1/2009 Air Liquide Builds ASU ...more | comments Air Liquide to build liquid argon production plant. 9/1/2009 MAPI Outlines Recovery ...more | comments The Manufacturers Alliance predicts an economic recovery starting in 3Q09. 9/1/2009 Steel Load-Out and Welding Records Broken ...more | comments 7,500-ton job at shipyard records best quality welding record globally at 0.23 rrd. 8/31/2009 Praxair Sells $1B Debt ...more | comments Praxair Inc. takes advantage of lowest investment-grade bond yields in four years. 8/31/2009 Demand Rises for Specialty Gases ...more | comments Manufacturing, electronics and health care sectors spur 3.5% growth. 8/31/2009 N2O No Laughing Matter ...more | comments Nitrous Oxide is now a major threat to ozone layer. 8/28/2009 Needle-Free Injections ...more | comments Nitrogen gas technology makes it possible. 8/28/2009 Acetylene Storage ...more | comments Researchers study “organic” alternative. 8/28/2009 Hybrid Garbage Trucks ...more | comments Hydraulics tap pressurized nitrogen gas. 8/27/2009 Faulty LPG Cylinder Crackdown ...more | comments Tanzanian regulators take action against unscrupulous dealers.