Sandvik’s revenues up 15.9 percent in Q2

Friday, 16 July 2021 14:35:29 (GMT+3)   |   Istanbul

Swedish high-technology engineering and steelmaking group Sandvik has issued its financial results for the second quarter of 2021.

According to its financial results, in the second quarter this year Sandvik recorded a net profit of SEK 3.51 billion ($405.01 million), compared to a net profit of SEK 1.09 billion in the corresponding quarter of 2020. In the second quarter, Sandvik’s operating profit was SEK 4.75 billion ($548.08 million), rising by 215.2 percent year on year. Order intake in the given quarter amounted to SEK 25.86 billion ($2.98 billion), up 36.3 percent, while its revenues amounted to SEK 23.46 billion ($2.70 billion), rising by 15.9 percent, both compared to the same quarter of the previous year.

According to the company’s statement, the company noted a strong year-on-year increase in both order intake and revenues in the second quarter. Demand remained on par with the first quarter, indicating an underlying solid demand. Sandvik said it is continuously following up on risks related to the coronavirus pandemic to reduce the impacts on the company. 

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