Sweden-based engineering group Sandvik recorded strong growth in the second quarter of 2026, supported by robust mining activity, higher sales volumes and improved price realization.
The company's order intake rose by 17 percent year on year to SEK 37.80 billion ($3.92 billion), while revenues increased by 24 percent to SEK 36.75 billion ($3.81 billion). Adjusted EBITA surged by 48 percent to SEK 8.31 billion ($862 million), with the corresponding margin rising to 22.6 percent from 19.0 percent, while net profit increased by 63 percent to SEK 5.24 billion ($543 million).
Sandvik's mining division achieved record organic order intake and revenues during the quarter, with order intake increasing by 12 percent to SEK 20.05 billion ($2.08 billion) and revenues climbing by 20 percent to SEK 18.53 billion ($1.92 billion). Adjusted EBITA advanced by 21 percent to SEK 3.79 billion ($393 million), while the margin edged up to 20.5 percent. Aftermarket orders grew organically by 17 percent, driven by parts, services and digital mining technologies, whereas equipment orders increased by 2 percent.
Strong commodity prices continued to support mining investment during the quarter, particularly in brownfield projects, while high production rates and aging equipment fleets sustained demand for spare parts and maintenance services. Sandvik received five major mining orders worth a combined SEK 2.1 billion ($218 million), with organic order intake excluding these orders increasing by 13%. The company also stated that its new AutoMine Aura platform, equipped with a 3D perception navigation system, had increased material moved by 15% during testing in a challenging underground mining environment.
Meanwhile, Sandvik expanded its automation and electrification portfolio with the launch of its AutoMine Aura underground automation platform, the DD423iE battery-electric drill and its first electric top-hammer surface drill rig.
