Swedish high-technology engineering and steelmaking group Sandvik has issued its financial results for the fourth quarter and the full year of 2016.
According to its financial results, in the fourth quarter last year Sandvik recorded a net profit of SEK 1.84 billion ($211.4 million), compared to a net loss of SEK 171 million in the corresponding quarter of 2015. Order intake in the given quarter amounted to SEK 21.99 billion ($2.52 billion), up eight percent year on year.
In 2016, the company registered a net profit of SEK 5.46 billion ($626.47 million), compared to a net profit of SEK 2.19 billion recorded in 2015, while its order intake decreased by one percent to SEK 81.86 billion ($7.37 billion) compared to the previous year.