Financial results
Sweden’s Sandvik AB has released its interim financial results for the last quarter of 2012. Order intake came in at SEK21.07 billion for 4Q12, with revenue dropping 3% y/y from SEK25.1 billion to SEK24.33 billion. However, profit before tax reached SEK1.63 billion, up 43% from SEK1.14 billion in 4Q11. Operating profit also increased, rising by 29% y/y to SEK2.13 billion.
New appointments
The company has also announced changes to its Group Executive Management. Jonas Gustavsson will take up the role of President of Sandvik Machining Solutions. Gustavsson has worked at the company since 2008, currently serving as President of Sandvik Materials Technology. Petra Einarsson, who has been with the firm for 22 years, will be appointed as President of Sandvik Materials Technology, as well as a member of the Group’s Executive Management.
Adapted from press release by Louise Fordham.
