Swedish high-technology engineering and steelmaking group Sandvik has issued its financial results for 2024.
In the given year, Sandvik recorded a net profit of SEK 12.24 billion ($1.11 billion), compared to a net profit of SEK 15.3 billion in 2023. Order intake in the given period amounted to SEK 124.7 billion ($11.37 billion), down 0.2 percent, while its revenues came to SEK 122.87 billion ($11.2 billion), decreasing by 2.8 percent, both compared to the previous year.
The company’s adjusted EBITDA in the given period fell by 6.5 percent year on year to SEK 23.58 billion ($2.15 billion).
“There is a lot to be proud of when looking back at 2024. Faced with volume deterioration in several businesses due to a weak market, we managed to achieve stable revenues and a solid margin,” Stefan Widing, CEO of the company, said.
