Swedish high-technology engineering and steelmaking group Sandvik has issued its financial results for the fourth quarter of 2018.
According to its financial results, in the fourth quarter this year Sandvik recorded a net profit of SEK 2.85 billion ($313.5 million), compared to a net profit of SEK 6.41 billion in the corresponding quarter of 2017. In the fourth quarter, Sandvik’s operating profit was SEK 4.17 billion ($458.7 million), falling by 48 percent year on year. Order intake in the given quarter amounted to SEK 25.63 billion ($2.82 billion), up six percent, while its revenues amounted to SEK 25.97 billion ($2.86 billion), rising by nine percent, both compared to the same quarter of the previous year.
In 2018, Sandvik recorded a net profit of SEK 13.25 billion ($1.46 billion), compared to SEK 13.21 billion in 2017, remaining almost unchanged. The company’s operating profit last year amounted to SEK 18.68 billion ($2.05 billion), rising by three percent from SEK 18.07 billion in the year before. Order intake registered as SEK 102.44 billion ($11.27 billion), up by nine percent from SEK 95.44 billion in the previous year. In 2018, revenues totaled SEK 100.07 billion ($11billion), up 11 percent from SEK 90.82 billion in 2017.
According to the company’s statement, the full year of 2018 was a record 12 months for orders, revenues, adjusted operating profit and margin as well as cash flow. Demand improved in all customer segments and in all geographical regions, although a softening in Asia was noted towards the end of the year.