Sandvik Mining’s order intake in the first quarter of the year grew by 2pc to SEK25.8bn ($3bn) compared to SEK25.3bn in the same quarter in 2020.
Its order intake at its mining and rock solutions grew by 36pc to SEK10.4bn in the first quarter of the year compared to SEK8.5bn. Order intake at its manufacturing and machining solutions remained almost unchanged at SEK9.3bn in Q1 2021 compared to SEK 10.1bn in Q1 2020. Order intake at its materials technology division declined by 13pc to SEK3.6bn in Q1 2021 from SEK4.3bn in the same quarter last year.
Its order intake in Europe in Q1 2021 dropped by 1pc while it increased by 5pc in North America compared to Q1 2020. Order intake in Asia grew by 26pc while in Africa and the Middle East increased by 29pc in the first quarter compared to the same quarter in 2020. Its order intake in Australia and South America also saw a 38pc and 27pc increase respectively annually.
The company’s revenue fell by 8pc in Q1 2021 to SEK21.6bn compared to SEK23.6bn in Q1 2020, while its operating profit saw a 54pc increase to SEK4.2bn in the first quarter of 2021 from SEK2.7bn on an annual basis.
$1 = SEK8.44