(RTTNews) – Sandvik AB (SDVKY, SDVKF, SAND.ST), a Swedish high-tech engineering group, reported Friday significantly higher profit in its second quarter with strong growth in revenues. Order intake also climbed from last year. Further, the company reconfirmed its four long-term financial targets.
In Stockholm, the shares were losing around 6.46 percent, trading at 348.80 kronor.
The company said it delivered a strong second quarter with double-digit organic growth in both order intake and revenues, driven by a favorable business environment and solid execution
For the strategy period 2025-2030, the company still expects a growth of 7 percent through a business cycle organic and M&A, in fixed currency, and an adjusted EBITA range of 20 percent to 22 percent through a business cycle adjusted for IAC.
In the second quarter, the company’s earnings climbed 63 percent to 5.236 billion Swedish kronor from 3.216 billion kronor last year. Earnings per share grew to 4.17 kronor from 2.56 kronor a year ago.
Adjusted earnings were 5.761 billion kronor or 4.59 kronor per share for the period, compared to 3.713 billion kronor or 2.96 kronor per share a year earlier.
Adjusted EBITA increased 48 percent year-over-year to 8.306 billion kronor, corresponding to a margin of 22.6 percent, up from 19.0 percent last year.
The company’s revenue for the period rose 23.7 percent to 36.752 billion kronor from 29.700 billion kronor last year. Revenues increased 24 percent on a constant currency basis and 23 percent organically.
Total order intake climbed 17 percent to 37.799 billion kronor from 32.206 billion kronor in the prior year. At fixed exchange rates, order intake increased 17 percent, and organically by 17 percent
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