Swedish high-technology engineering and steelmaking group Sandvik has issued its financial results for the first quarter of the current year.
According to its financial results, in the first quarter this year Sandvik recorded a net profit of SEK 2.95 billion ($345.22 million), compared to a net profit of SEK 2.27 billion in the corresponding quarter of 2017. In the first quarter, Sandvik’s operating profit was SEK 4.27 billion ($499.26 million), rising by 22 percent year on year. Order intake in the given quarter amounted to SEK 25.41 billion ($2.97 billion), up seven percent, while its revenues amounted to 23.68 billion ($2.76 billion), rising by 14 percent, both compared to the same quarter of the previous year.
According to the company’s statement, the current year started with a broad-based increase in customer activity resulting in growth in orders and revenues as well as increased earnings and margins compared with the year-earlier period. In addition, demand improved in all geographical regions as customer activity intensified in all segments.