Swedish high-technology engineering and steelmaking group Sandvik has issued its financial results for the fourth quarter and full year of 2017.
According to its financial results, Sandvik's net profit for the fourth quarter was SEK 6.32 billion ($799.74 million), significantly increasing compared to SEK 1.84 billion in the corresponding period of 2016. Order intake in the given quarter amounted to SEK 24.10 billion ($3.05 billion), up 15 percent year on year.
In the full year of 2017, the company posted a net profit of SEK 13.18 billion ($1.67 billion), rising from the net profit of SEK 5.46 billion recorded in 2016, while its order intake increased by 15 percent to SEK 95.44 billion ($12.08 billion) compared to the previous year.
According to Sandvik, in 2017 the demand for Sandvik’s products improved year-on-year, with order intake noting organic growth of 15 percent. This was attributable to a broad-based improvement in customer activity in all business areas and most customer segments.