The electric mining jumbo Sandvik DD422iE.
The electric mining jumbo Sandvik DD422iE.

Annual Report 2022

2022 in brief

We acquired eight companies in strategic areas, including solid round tools, mine planning and battery diagnostic

New financial targets were introduced. The adjusted EBITA margin was 20.0 percent, within our new margin target range

We continued to strengthen our resilience with new cost efficiency measures

Sandvik Materials Technology was successfully distributed and listed as an independent company, Alleima, on Nasdaq Stockholm

As a consequence of Russia’s war in Ukraine, we decided to wind down our operations in Russia

We submitted targets for validation to the Science Based Targets initiative

Strong demand despite a challenging macroeconomic situation. Order intake grew by 27 percent and revenues by 31 percent

Organic sales growth amounted to 8 percent, fueled by successful innovations

Key figures

Revenues, MSEK

112,332

Adjusted EBITA, MSEK1)

22,486

Earnings per share, SEK (diluted)

10.24

Number of employees2)

40,489

Total Recordable Injury Frequency Rate, TRIFR3)

3.1

Employees trained in Sandvik’s Code of Conduct, %

95
KEY FIGURES

1) Adjusted for items affecting comparability, see Development in business areas. For definitions of alternative performance measures, see Definitions

3) Full-time equivalent.

3) Total number of recordable injuries per million hours worked.

Review 2022

We delivered strong result in a challenging operating environment and raised our growth ambitions. Watch our video where we summarize financial results and major events.

Letter from the CEO Shift to growth The birth of a new company
financial_review_2019_videovorschau.jpg

Sustainable business

Sandvik made good progress on our sustainability goals. We submitted our climate targets for approval by the Science Based Targets initiative and achieved 74 percent waste circularity. Watch the video where we summarize our sustainability year.

Sustainability shift Non-financial notes

A value-creating strategy

WE MAKE THE SHIFT – Advancing the world through engineering. CORE VALUES: Customer Focus, Passion to Win, Fair Play and Innovation. Strategic objectives: Shift to Growth, Sustainability Shift, Customer’s 1st Choice, Agile through Cycle, Employer of Choice and Digital Shift

Our strategy aims to drive profitable growth and create value for all our stakeholders.

Our strategy

Business Areas

Sandvik Mining and Rock Solutions

Sandvik Mining and Rock Solutions

Sandvik Mining and Rock Solutions

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

Share of revenues

51%

Share of adjusted EBITA

50%

Divisions

  • Underground Drilling
  • Load and Haul
  • Surface Drilling
  • Rotary Drilling
  • Mechanical Cutting
  • Rock Tools
  • Ground Support
  • Digital Mining Technologies
  • Parts and Services
Adjusted EBITA is excluding Group activities and items affecting comparability.
Sandvik Mining and Rock Solutions
Sandvik Rock Processing Solutions: Rock processing machines

Sandvik Rock Processing Solutions

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

8%

Share of adjusted EBITA

7%

Divisions

  • Stationary Crushing and Screening
  • Mobile Crushing and Screening
  • Attachment Tools
  • Shanbao
Adjusted EBITA is excluding Group activities and items affecting comparability.
Sandvik Rock Processing Solutions
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Sandvik Manufacturing and Machining Solutions

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

41%

Share of adjusted EBITA

43%

Divisions

Sandvik Machining Solutions1)
  • Sandvik Coromant
  • Seco
  • Walter
  • Dormer Pramet
  • Wolfram
Sandvik Manufacturing Solutions1)
  • Design and Planning Automation
  • Additive Manufacturing
1) Business area segments
Adjusted EBITA is excluding Group activities and items affecting comparability.
Sandvik Manufacturing and Machining Solutions

Revenues by customer segment

Revenues by market area

Targets and target fulfillment

Sandvik introduced new financial targets in 2022 that included raised growth ambitions and focus on healthy, stable profitability.

Financial information

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

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.

(PDF:) Download Annual Report 2022 as PDF

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