TAMPERE, Finland, Nov. 28, 2023 /PRNewswire/ -- Sandvik is today hosting a Capital Markets Day for institutional investors, analysts and financial media. The event is being held at one of Sandvik Mining and Rock Solutions largest sites, in Tampere, Finland.
The main focus areas that will be covered:
This will be demonstrated through guided tours, exhibitions and presentations. Examples of showcases are solutions for closed loop manufacturing and the launch of a new battery-electric concept surface drill rig.
"Sandvik has been on a transformation journey in recent years, and we look forward to today show how this transformation has strengthened the company, both in terms of growth potential as well as the demonstrated higher resilience," says Stefan Widing, President and CEO of Sandvik.
Since the last Capital Markets Day, Sandvik has continued to make progress in the shift to growth strategy. We have invested in innovation and acquired important strategic assets, strengthening our foundation to capture the growth opportunities we see ahead. We are now further sharpening the alignment and focus for some divisions.
Sandvik has revised its additive manufacturing strategy to focus primarily on metal powders, while a strategic review has been initiated for the additive services business. As a result of this the Additive Manufacturing division is moving from Manufacturing Solutions (SMF) to Machining Solutions (SMS), where it will merge with the Wolfram powder division to form a new multi-brand Powder Solutions division.
SMF is increasing its focus on software with enabling hardware, and some further changes between SMS and SMF will be detailed during the presentation. Because of these changes the target of SMF revenues of 6 BSEK in 2025, of which 60% coming from software, has been revised to a new target of having software revenues of 4 BSEK in 2025. The SMF margin target has also been revised upwards from 20% to 22% in 2025. The overall Group target of software and digital revenues of 6.5 BSEK in 2025 remains unchanged.
Sandvik reconfirms its Group financial targets announced in May 2022.
Tampere, November 28, 2023
Sandvik AB
For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.
The following files are available for download:
Sandvik Capital Markets Day - Making the shift |
SOURCE Sandvik