Annual Report 2023
“We make the shift – advancing the world through engineering”
A value creating strategy“We make the shift – advancing the world through engineering”
A value creating strategyReview 2023
Sandvik performed well in 2023 and we made important strategic progress. Watch our video where we summarize financial results and major events.
Sustainable business
Sandvik updated its sustainability strategy and the Science Based Targets initiative approved our greenhouse gas targets. Watch the video where we summarize our sustainability year.
Business areas and divisions
Sandvik Mining and Rock Solutions
A global leading supplier of equipment and tools, parts, service, digital solutions and sustainability-driving technologies for mining and infrastructure industries.
Share of revenues
52%
Share of adjusted EBITA
53%
Divisions
- Digital Mining Technologies
- Ground Support
- Load and Haul
- Mechanical Cutting
- Parts and Services
- Rock Tools
- Rotary Drilling
- Surface Drilling
- Underground Drilling
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
9%
Share of adjusted EBITA
6%
Divisions
- Stationary Crushing and Screening
- Mobile Crushing and Screening
- Attachment Tools
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
39%
Share of adjusted EBITA
41%
Sandvik Machining Solutions1)
- Sandvik Coromant
- Seco
- Walter
- Dormer Pramet
- Powder Solutions
- Tool Flow Solutions
- GWS2)
Sandvik Manufacturing Solutions1)
- Design and Planning Automation
- Industrial Metrology
1) Business area segments
2) As of January 1, 2024
Adjusted EBITA is excluding Group activities and items affecting comparability.
Revenues by customer segment
Revenues by market area
Targets and target fulfillment
Sandvik delivered on its targets with a revenue growth of 9 percent and an adjusted EBITA margin of 20.0 percent.
Financial and sustainability targetsFinancial information
This section includes: Financial statements, Notes, Board statement on dividend proposal, Proposed appropriation of profits, Auditor’s report.
Financial informationUN Sustainable Development Goals
Sandvik is committed to the UN Sustainable Development Goals. We have defined our positive and negative impact in the value chain.
Contribution to the sustainable development goals