sandvik ab (SVKB) Snapshot

Sandvik AB announced that Dinggui Gao has been appointed President of Business Area Sandvik Construction and member of the company's Group Executive Management. He has experience from leading positions in global industrial companies. Dinggui Gao was previously at MAN Group as its executive representative at one of its invested companies, Sinotruk Hong Kong Ltd. Prior to this, he was employed by Honeywell, Eagle Ottawa and also for more than a decade held progressive leading positions in the Bosch group. Dinggui Gao takes on his new position at a date that will be announced later.

Sandvik AB announced at its Annual General Meeting held on April 25, 2013, approved a dividend of SEK 3.50 per share. The record date for payment of the dividend was set at April 30, 2013. The dividend is expected to be sent by Euroclear Sweden AB on May 06, 2013.

Sandvik AB announced group and parent company earnings results for the first quarter ended March 31, 2013. For the quarter, the group reported invoiced sales of SEK 22,098 million against SEK 24,838 million a year ago. Operating profit was SEK 2,557 million against SEK 3,819 million a year ago. Profit for the period was SEK 1,477 million against SEK 2,505 million a year ago. Earnings per share were SEK 1.18 against SEK 2.05 a year ago. Profit after financial items was SEK 2,078 million against SEK 3,371 million a year ago. Adjusted operating profit was SEK 2,697 million against SEK 3,819 million a year ago. Cash flow from operations was SEK 2,207 million against SEK 1,099 million a year ago. Capital expenditure was SEK 898 million against SEK 1,429 million in the preceding quarter. This lower level is due to the timing of investments. The consistent generation of cash flow further reduced net debt to SEK 19.9 billion against SEK 24.4 billion a year ago. Profit for the period attributable to owners of the parent was SEK 1,476 million against SEK 2,500 million a year ago. Acquisitions of property, plant and equipment was SEK 758 million against SEK 1,096 million a year ago. For the quarter, the parent company reported invoiced sales of SEK 3,969 million against SEK 4,682 million a year ago. Operating result was SEK 291 million against operating loss of SEK 42 million a year ago. Result for the period was SEK 293 million against SEK 456 million a year ago. Result after financial items was SEK 369 million against SEK 579 million a year ago. The company estimated capex at about SEK 5 billion and tax rate at about 25-27% for the year 2013.