Buy Or Sell Opportunity • Jul 01
Now 20% undervalued Over the last 90 days, the stock has risen 8.8% to kr393. The fair value is estimated to be kr493, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 8.3% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Announcement • Apr 30
Sandvik AB (Publ) Appoints Patrick Murphy as President of Business Area Mining and New Member of the Sandvik Group Executive Management, Effective July 1, 2026 Sandvik AB (publ) has appointed Patrick Murphy as President of business area Mining and new member of the Sandvik Group Executive Management, effective July 1, 2026. He succeeds Mats Eriksson, who as previously announced is stepping down from the role ahead of his planned retirement in 2027. Patrick Murphy is currently President of the Rotary Drilling division within Mining. Patrick Murphy, born in 1976, is a Canadian national. He joined Sandvik in 2001 and has a strong background from various roles within the Mining business area, working in Canada, Australia, India, Finland and the United States. Prior to his current role as President Rotary Drilling, he headed the Underground Drilling division as well as the Rock Drills and Technologies division. Announcement • Apr 28
Sandvik AB (publ) Approves Dividend, Payable on May 6, 2026 Sandvik AB (publ) at its AGM held on April 28, 2026, resolved pursuant to the Board's proposal on a dividend of SEK 6.00 per share. The record day for payment of the dividend was set at April 30, 2026. The dividend is expected to be paid by Euroclear on May 6, 2026. Announcement • Apr 09
Sandvik AB (publ) (OM:SAND) acquired 80% stake in K&Y Diamond Ltd. Sandvik AB (publ) (OM:SAND) acquired 80% stake in K&Y Diamond Ltd. on April 9, 2026.
Sandvik AB (publ) (OM:SAND) completed the acquisition of 80% stake in K&Y Diamond Ltd. on April 9, 2026. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: kr11.71 (vs kr9.76 in FY 2024) Full year 2025 results: EPS: kr11.71 (up from kr9.76 in FY 2024). Revenue: kr120.7b (down 1.8% from FY 2024). Net income: kr14.7b (up 20% from FY 2024). Profit margin: 12% (up from 10.0% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 13
Sandvik AB (publ) (OM:SAND) signed an agreement to agreement to acquire ThoroughTec Simulation (Pty) Ltd. Sandvik AB (publ) (OM:SAND) signed an agreement to agreement to acquire ThoroughTec Simulation (Pty) Ltd. on February 12, 2026. ThoroughTec will be reported in Parts and Services, a division within business area Mining.
For the period ending December 31, 2025, ThoroughTec Simulation (Pty) Ltd. reported total revenue of SEK 170 million.
The transaction is subject to customary regulatory approvals and is expected to close during second quarter of 2026. Recent Insider Transactions • Feb 04
Executive VP & Head of Human Resources recently sold kr2.0m worth of stock On the 2nd of February, Bjorn Axelsson sold around 6k shares on-market at roughly kr354 per share. This trade did not impact their existing holding. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr4.1m more than they bought in the last 12 months. Declared Dividend • Jan 29
Dividend increased to kr6.00 Dividend of kr6.00 is 4.3% higher than last year. Ex-date: 29th April 2026 Payment date: 6th May 2026 Dividend yield will be 1.7%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 5.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 28
Full year 2025 earnings released: EPS: kr11.71 (vs kr9.76 in FY 2024) Full year 2025 results: EPS: kr11.71 (up from kr9.76 in FY 2024). Revenue: kr120.7b (down 1.8% from FY 2024). Net income: kr14.7b (up 20% from FY 2024). Profit margin: 12% (up from 10.0% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jan 03
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to kr302. The fair value is estimated to be kr251, however this is not to be taken as a sell recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings are also forecast to grow by 8.9% per annum over the same time period. Buy Or Sell Opportunity • Dec 02
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to kr286. The fair value is estimated to be kr239, however this is not to be taken as a sell recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings are also forecast to grow by 9.2% per annum over the same time period. Buy Or Sell Opportunity • Nov 10
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to kr289. The fair value is estimated to be kr241, however this is not to be taken as a sell recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings are also forecast to grow by 9.2% per annum over the same time period. Reported Earnings • Oct 21
Third quarter 2025 earnings released: EPS: kr2.82 (vs kr2.58 in 3Q 2024) Third quarter 2025 results: EPS: kr2.82 (up from kr2.58 in 3Q 2024). Revenue: kr29.2b (down 3.6% from 3Q 2024). Net income: kr3.54b (up 9.3% from 3Q 2024). Profit margin: 12% (up from 11% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Sep 21
Insider recently sold kr1.5m worth of stock On the 17th of September, Björn Roodzant sold around 6k shares on-market at roughly kr253 per share. This transaction amounted to 61% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr1.1m more than they bought in the last 12 months. Announcement • Sep 17
Sandvik AB (publ), Annual General Meeting, Apr 28, 2026 Sandvik AB (publ), Annual General Meeting, Apr 28, 2026. Location: sandviken Sweden Reported Earnings • Jul 17
Second quarter 2025 earnings released: EPS: kr2.56 (vs kr2.76 in 2Q 2024) Second quarter 2025 results: EPS: kr2.56 (down from kr2.76 in 2Q 2024). Revenue: kr29.7b (down 5.5% from 2Q 2024). Net income: kr3.22b (down 7.1% from 2Q 2024). Profit margin: 11% (in line with 2Q 2024). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 02
Sandvik AB (publ) (OM:SAND) completed the acquisition of Osa Demolition Equipment S.R.L. Sandvik AB (publ) (OM:SAND) signed an agreement to acquire Osa Demolition Equipment S.R.L. on April 4, 2025. As part of the acquisition, OSA will be reported as a business unit within the Attachment Tools division in the business area Sandvik Rock Processing Solutions.
For the period ending December 31, 2024, Osa Demolition Equipment S.R.L. reported total revenue of SEK 150 million. The transaction is expected to close during the third quarter of 2025, subject to customary regulatory approvals.
Claudio Di Falco of Norton Rose Fulbright Studio Legale acted as legal advisor to Sandvik AB (publ). Diego Rigatti and Niccolò Massimo Gruppi of Fieldfisher Italyacted as legal advisor to Osa Demolition Equipment S.R.L.
Sandvik AB (publ) (OM:SAND) completed the acquisition of Osa Demolition Equipment S.R.L. on July 1, 2025. Announcement • Jun 03
Sandvik AB (publ) (OM:SAND) completed the acquisition of Verisurf Software, Inc. Sandvik AB (publ) (OM:SAND) signed an agreement to acquire Verisurf Software, Inc. on March 10, 2025. After the completion of the transaction Verisurf Software, Inc. will be reported as a separate business unit within business area Sandvik Manufacturing and Machining Solutions. For the period ending December 31, 2024, Verisurf Software, Inc. reported total revenue of $12 million. The transaction is expected to close during the second quarter of 2025 and is subject to customary regulatory approvals.
Sandvik AB (publ) (OM:SAND) completed the acquisition of Verisurf Software, Inc. on June 3, 2025. Recent Insider Transactions • Jun 03
Executive VP & CFO recently sold kr3.1m worth of stock On the 30th of May, Cecilia Felton sold around 15k shares on-market at roughly kr210 per share. This transaction amounted to 70% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Cecilia has been a net seller over the last 12 months, reducing personal holdings by kr2.6m. Recent Insider Transactions • May 13
Insider recently sold kr2.7m worth of stock On the 8th of May, Richard Harris sold around 13k shares on-market at roughly kr205 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought kr416m more than they sold in the last 12 months. Announcement • Apr 29
Sandvik AB (Publ) Approves Dividend, Payable on May 7, 2025 Sandvik AB (publ) at its Annual General Meeting held on April 29, 2025, approved a dividend of SEK 5.75 per share. The record day for payment of the dividend was set at May 2, 2025. The dividend is expected to be paid by Euroclear on May 7, 2025. Upcoming Dividend • Apr 23
Upcoming dividend of kr5.75 per share Eligible shareholders must have bought the stock before 30 April 2025. Payment date: 07 May 2025. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of British dividend payers (6.2%). Higher than average of industry peers (2.6%). Buy Or Sell Opportunity • Apr 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to kr186. The fair value is estimated to be kr235, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings are also forecast to grow by 6.6% per annum over the same time period. Reported Earnings • Apr 16
First quarter 2025 earnings released: EPS: kr2.98 (vs kr0.99 in 1Q 2024) First quarter 2025 results: EPS: kr2.98 (up from kr0.99 in 1Q 2024). Revenue: kr29.3b (up 1.0% from 1Q 2024). Net income: kr3.74b (up 199% from 1Q 2024). Profit margin: 13% (up from 4.3% in 1Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 2% per year. Announcement • Apr 15
Sandvik AB (Publ) Appoints Johanna Kreft as Executive Vice President and General Counsel, Effective October 13, 2025 Sandvik has appointed Johanna Kreft as Executive Vice President and General Counsel, effective October 13, 2025. Johanna Kreft, who currently holds the equivalent position at Alleima, will also be a member of the Sandvik Group Executive Management. Johanna Kreft, born in 1976, has a long background from within Sandvik spanning over 15 years. Before the spinoff of Sandvik Materials Technology (SMT) as Alleima from Sandvik in 2022, she was Business Area General Counsel for SMT. Her previous roles also include Chief Legal Counsel for SMT as well as Legal Counsel for Sandvik AB. She replaces Åsa Thunman, who as previously announced is leaving Sandvik for a similar position at the Swedish project development and construction group Skanska. Buy Or Sell Opportunity • Apr 04
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.7% to kr185. The fair value is estimated to be kr238, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Reported Earnings • Mar 11
Full year 2024 earnings released: EPS: kr9.76 (vs kr12.20 in FY 2023) Full year 2024 results: EPS: kr9.76 (down from kr12.20 in FY 2023). Revenue: kr122.9b (down 2.9% from FY 2023). Net income: kr12.2b (down 20% from FY 2023). Profit margin: 10.0% (down from 12% in FY 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 3% per year. Announcement • Mar 11
Sandvik AB (publ) (OM:SAND) signed an agreement to acquire Verisurf Software, Inc. Sandvik AB (publ) (OM:SAND) signed an agreement to acquire Verisurf Software, Inc. on March 10, 2025. After the completion of the transaction Verisurf Software, Inc. will be reported as a separate business unit within business area Sandvik Manufacturing and Machining Solutions. For the period ending December 31, 2024, Verisurf Software, Inc. reported total revenue of $12 million. The transaction is expected to close during the second quarter of 2025 and is subject to customary regulatory approvals. Declared Dividend • Feb 03
Dividend increased to kr5.75 Dividend of kr5.75 is 4.5% higher than last year. Ex-date: 30th April 2025 Payment date: 7th May 2025 Dividend yield will be 2.5%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 5.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 42% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 24
Full year 2024 earnings released: EPS: kr9.76 (vs kr12.20 in FY 2023) Full year 2024 results: EPS: kr9.76 (down from kr12.20 in FY 2023). Revenue: kr122.9b (down 2.9% from FY 2023). Net income: kr12.2b (down 20% from FY 2023). Profit margin: 10.0% (down from 12% in FY 2023). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year. Announcement • Jan 23
Sandvik AB (publ) to Report Fiscal Year 2024 Results on Mar 10, 2025 Sandvik AB (publ) announced that they will report fiscal year 2024 results on Mar 10, 2025 Announcement • Jan 10
Sandvik AB (Publ) Announces Åsa Thunman, Executive Vice President and General Counsel Decides to Leave , Effective No Later Than July 8, 2025 Sandvik AB (publ) announced that Åsa Thunman, Executive Vice President and General Counsel of Sandvik, has decided to leave Sandvik for a corresponding position at the Swedish project development and construction group Skanska. Åsa Thunman, who has been in her current position and a member of the Group Executive Management since 2014, will leave Sandvik no later than July 8, 2025. A recruitment process to find a successor will now be initiated. Reported Earnings • Oct 21
Third quarter 2024 earnings released: EPS: kr2.58 (vs kr3.11 in 3Q 2023) Third quarter 2024 results: EPS: kr2.58 (down from kr3.11 in 3Q 2023). Revenue: kr30.3b (down 3.7% from 3Q 2023). Net income: kr3.24b (down 17% from 3Q 2023). Profit margin: 11% (down from 12% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 1% per year. Announcement • Sep 25
Sandvik AB (publ), Annual General Meeting, Apr 29, 2025 Sandvik AB (publ), Annual General Meeting, Apr 29, 2025. Location: sandviken, Sweden Announcement • Sep 24
Sandvik AB (Publ) Announces Appointments to Nomination Committee for the 2025 Annual General Meeting Sandvik AB (Publ) announced that the nomination committee has now been appointed and consists of the following members: Fredrik Lundberg, AB Industrivärden, Chairman of the Nomination Committee, Daniel Kristiansson, Alecta, Marianne Nilsson, Swedbank Robur Funds, Lars Pettersson, Lundbergs and Johan Molin, Sandvik's Chairman of the Board. The Nomination Committee shall prepare proposals for the 2025 Annual General Meeting regarding the Chairman of the Meeting, number of Board members, fees to be paid to each of the Board members, election of Board members and Board Chairman, remuneration to the auditor and election of auditor and, if necessary, proposal for changes in the instruction to the Nomination Committee. Announcement • Aug 21
Metso Comments on Market Rumors Market rumors have been made public regarding Metso Oyj (HLSE:METSO) and Swedish Sandvik AB (publ) (OM:SAND)'s mining business. Metso has no information related to the speculations and no related insider project exists. Announcement • Aug 20
Metso Dismisses Speculations over Deal with Sandvik Finnish industrial machinery firm Metso Oyj (HLSE:METSO) denied on August 20, 2024 a media report which suggested that it could merge its mining equipment operations with those of Swedish engineering group Sandvik AB (publ) (OM:SAND) as the move was requested by major shareholders. “Metso has no information related to the speculations and no related insider project exists,” the Finnish firm said. Further details were not disclosed. The statement was issued after Swedish business daily Dagens Industri reported over the weekend that Metso management was considering a potential transaction with Sandvik. Recent Insider Transactions • Jul 28
Director recently bought kr412m worth of stock On the 25th of July, Helena Stjernholm bought around 2m shares on-market at roughly kr217 per share. This transaction increased Helena's direct individual holding by 380x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.3b more in shares than they have sold in the last 12 months. Reported Earnings • Jul 22
Second quarter 2024 earnings released: EPS: kr2.76 (vs kr2.65 in 2Q 2023) Second quarter 2024 results: EPS: kr2.76 (up from kr2.65 in 2Q 2023). Revenue: kr31.4b (down 2.6% from 2Q 2023). Net income: kr3.46b (up 4.0% from 2Q 2023). Profit margin: 11% (in line with 2Q 2023). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jun 17
President recently bought kr1.6m worth of stock On the 13th of June, Stefan Widing bought around 7k shares on-market at roughly kr226 per share. This transaction amounted to 8.9% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr11m. Stefan has been a buyer over the last 12 months, purchasing a net total of kr5.0m worth in shares. Buy Or Sell Opportunity • May 28
Now 20% undervalued Over the last 90 days, the stock has risen 2.8% to kr237. The fair value is estimated to be kr297, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 7.7%. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Recent Insider Transactions • May 08
President recently bought kr11m worth of stock On the 3rd of May, Stefan Widing bought around 51k shares on-market at roughly kr220 per share. This transaction amounted to 78% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Stefan has been a buyer over the last 12 months, purchasing a net total of kr13m worth in shares. Board Change • May 05
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Andreas Nordbrandt was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 26
Upcoming dividend of kr5.50 per share Eligible shareholders must have bought the stock before 30 April 2024. Payment date: 07 May 2024. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of British dividend payers (5.9%). Higher than average of industry peers (2.2%). Declared Dividend • Apr 25
Dividend increased to kr5.50 Dividend of kr5.50 is 10% higher than last year. Ex-date: 30th April 2024 Payment date: 7th May 2024 Dividend yield will be 2.4%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 4.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 51% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 20
Jennifer Allerton Declines Re-Election as Board Member of Sandvik AB (publ) Jennifer Allerton has declined re-election as board member of Sandvik AB (publ), at its AGM to be held on April 29, 2024. Announcement • Feb 02
Sandvik AB (publ) (OM:SAND) acquired Pro-Micron Gmbh. Sandvik AB (publ) (OM:SAND) signed an agreement to acquire Pro-Micron Gmbh on December 28, 2023.Sandvik AB (publ) (OM:SAND) completed the acquisition of Pro-Micron Gmbh on February 2, 2024. Announcement • Feb 01
Sandvik AB (publ) to Report Fiscal Year 2023 Results on Mar 13, 2024 Sandvik AB (publ) announced that they will report fiscal year 2023 results on Mar 13, 2024 Announcement • Jan 24
Jennifer Allerton Declines Re-Election as Board Member of Sandvik AB (publ) Sandvik AB (publ) announced that Board member, Jennifer Allerton has declined re-election for the 2024 Annual General Meeting to be held on April 29, 2024. Recent Insider Transactions • Nov 09
Independent Director recently bought kr98m worth of stock On the 6th of November, Claes Boustedt bought around 500k shares on-market at roughly kr196 per share. This transaction increased Claes' direct individual holding by 1x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr374m. Insiders have collectively bought kr1.0b more in shares than they have sold in the last 12 months. Announcement • Nov 05
Sandvik AB (publ) (OM:SAND) acquired Esco Gmbh. Sandvik AB (publ) (OM:SAND) signed an agreement to acquire Esco Gmbh on October 26, 2023. The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions. For FY ended 2022, Esco had generated revenues of about SEK 14 million and had around 17 employees.Sandvik AB (publ) (OM:SAND) completed the acquisition of Esco Gmbh on November 3, 2023. Recent Insider Transactions • Oct 29
Director recently bought kr374m worth of stock On the 25th of October, Helena Stjernholm bought around 2m shares on-market at roughly kr187 per share. This transaction increased Helena's direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr941m more in shares than they have sold in the last 12 months. Reported Earnings • Oct 23
Third quarter 2023 earnings released: EPS: kr3.11 (vs kr2.70 in 3Q 2022) Third quarter 2023 results: EPS: kr3.11 (up from kr2.70 in 3Q 2022). Revenue: kr31.5b (up 7.5% from 3Q 2022). Net income: kr3.90b (up 15% from 3Q 2022). Profit margin: 12% (in line with 3Q 2022). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be kr230, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings is also forecast to grow by 8.3% per annum over the same time period. Recent Insider Transactions • Aug 03
Director recently bought kr361m worth of stock On the 31st of July, Helena Stjernholm bought around 2m shares on-market at roughly kr213 per share. This transaction increased Helena's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr587m more in shares than they have sold in the last 12 months. Reported Earnings • Jul 19
Second quarter 2023 earnings released: EPS: kr2.65 (vs kr2.11 in 2Q 2022) Second quarter 2023 results: EPS: kr2.65 (up from kr2.11 in 2Q 2022). Revenue: kr32.2b (up 19% from 2Q 2022). Net income: kr3.33b (up 26% from 2Q 2022). Profit margin: 10% (in line with 2Q 2022). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Jun 16
President recently bought kr1.5m worth of stock On the 13th of June, Stefan Widing bought around 7k shares on-market at roughly kr211 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Stefan has been a buyer over the last 12 months, purchasing a net total of kr1.7m worth in shares. Recent Insider Transactions • May 29
Employee Representative Director recently bought kr70k worth of stock On the 25th of May, Thomas Lilja bought around 357 shares on-market at roughly kr196 per share. This transaction amounted to 7.4% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr204m. Insiders have collectively bought kr403m more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 19
President recently bought kr113k worth of stock On the 12th of May, Stefan Widing bought around 563 shares on-market at roughly kr200 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr204m. Stefan has been a buyer over the last 12 months, purchasing a net total of kr1.6m worth in shares. Upcoming Dividend • Apr 21
Upcoming dividend of kr5.00 per share at 2.3% yield Eligible shareholders must have bought the stock before 28 April 2023. Payment date: 05 May 2023. Payout ratio is a comfortable 49% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of British dividend payers (5.8%). In line with average of industry peers (2.5%). Board Change • Mar 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Director Thomas Andersson was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 16
Director recently bought kr204m worth of stock On the 13th of March, Helena Stjernholm bought around 1m shares on-market at roughly kr204 per share. This transaction increased Helena's direct individual holding by 200x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr406m more in shares than they have sold in the last 12 months. Announcement • Feb 12
Christophe Sut, President of Sandvik Manufacturing Solutions, to Leave Sandvik as of August 11, 2023 Christophe Sut, President of Business Area segment Sandvik Manufacturing Solutions, has decided to leave Sandvik for a CEO position in a different company. He will leave Sandvik as of August 11, 2023. The process to find a successor will now be initiated. Announcement • Feb 03
Sandvik AB (publ) (OM:SAND) acquired 95% stake in Pmt Premier Machine Tools Limited. Sandvik AB (publ) (OM:SAND) acquired 95% stake in Pmt Premier Machine Tools Limited on February 1, 2023. PMT Premier Machine generated revenues of approximately SEK 120 million for the year ended 2022. The Pmt Premier Machine Tools Limited will be reported within Seco, a division within Sandvik Manufacturing and Machining Solutions.
Sandvik AB (publ) (OM:SAND) completed the acquisition of 95% stake in Pmt Premier Machine Tools Limited on February 1, 2023. Announcement • Feb 02
Sandvik AB (publ) (OM:SAND) completed the acquisition of Polymathian Pty Ltd. Sandvik AB (publ) (OM:SAND) entered into an agreement to acquire Polymathian Pty Ltd for SEK 1.1 billion on November 12, 2022. Polymathian will be reported in Digital Mining Technologies, a division within business area Sandvik Mining and Rock Solutions. Polymathian will be a part of Business Unit Deswik and remain OEM (Original Equipment Manufacturer) agnostic. Polymathian's annual revenues per June 2022 were around SEK 100 million. The EBITA margin is approximately 40 percent and impact on Sandvik's earnings per share (excluding PPA) will be accretive. The transaction is expected to close during the first quarter of 2023. Lyndon Masters and Sara de Haan of DLA Piper Australia Pty Ltd acted as legal advisor to Polymathian Pty Ltd. and sell side PricewaterhouseCoopers Australia acted as accountant to Polymathian Pty Ltd.
Sandvik AB (publ) (OM:SAND) completed the acquisition of Polymathian Pty Ltd on February 1, 2023. Recent Insider Transactions • Jan 29
Insider recently sold kr1.1m worth of stock On the 23rd of January, Henrik Ager sold around 5k shares on-market at roughly kr215 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth kr1.4m. Despite this recent sale, insiders have collectively bought kr202m more than they sold in the last 12 months. Reported Earnings • Jan 23
Full year 2022 earnings released: EPS: kr10.24 (vs kr11.54 in FY 2021) Full year 2022 results: EPS: kr10.24 (down from kr11.54 in FY 2021). Revenue: kr112.3b (up 13% from FY 2021). Net income: kr12.8b (down 11% from FY 2021). Profit margin: 11% (down from 15% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jan 20
Sandvik AB (publ) Proposes Dividend Sandvik AB (publ) Proposed dividend per share SEK 5.00 (SEK 4.75). Recent Insider Transactions • Dec 06
Executive VP recently sold kr1.4m worth of stock On the 2nd of December, Åsa Maria Thunman sold around 7k shares on-market at roughly kr194 per share. This transaction amounted to 67% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought kr203m more than they sold in the last 12 months. Reported Earnings • Oct 17
Third quarter 2022 earnings released: EPS: kr2.55 (vs kr3.12 in 3Q 2021) Third quarter 2022 results: EPS: kr2.55 (down from kr3.12 in 3Q 2021). Revenue: kr29.3b (up 18% from 3Q 2021). Net income: kr3.38b (down 14% from 3Q 2021). Profit margin: 12% (down from 16% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 16
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr27.1b (up 15% from 2Q 2021). Net income: kr2.63b (down 25% from 2Q 2021). Profit margin: 9.7% (down from 15% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 2.0%, compared to a 11% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • May 24
Insider recently sold kr139k worth of stock On the 19th of May, Henrik Ager sold around 735 shares on-market at roughly kr190 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought kr623m more than they sold in the last 12 months. 
