Swedish high-technology engineering and steelmaking group Sandvik has issued its financial results for the first half of 2024.
According to its financial results, in the first half this year Sandvik recorded a net profit of SEK 4.71 billion ($441.6 million), compared to a net profit of SEK 7.14 billion in the corresponding period of 2023. Order intake in the given period amounted to SEK 64.35 billion ($6.03 billion), down 2.5 percent, while its revenues came to SEK 60.42 billion ($5.67 billion), decreasing by 4.4 percent, both compared to the same half of the previous year.
The company’s adjusted EBITDA in the given period fell by 10.1 percent year on year to SEK 11.43 billion ($1.07 billion).
Sandvik anticipates its capital expenditure for the current year will be approximately SEK 5.0 billion.
