Swedish high-technology engineering and steelmaking group Sandvik has issued its financial results for the first quarter of 2022.
According to its financial results, in the first quarter this year Sandvik recorded a net profit of SEK 3.39 billion ($352.81 million), compared to a net profit of SEK 2.88 billion in the corresponding quarter of 2021. Order intake in the given quarter amounted to SEK 30.47 billion ($3.16 billion), up 37.2 percent, while its revenues amounted to SEK 24.92 billion ($2.58 billion), rising by 34.4 percent, both compared to the same quarter of the previous year.
According to the statement, the company’s business performance has been strong, and the first quarter marked the fifth consecutive quarter with double-digit growth in orders, reflecting a continued broad-based strength in underlying demand.