Sandvik's Capital Markets Day to focus on the shift to growth

SANDVIKEN, Sweden, Nov. 3, 2020 /PRNewswire/ -- Today, at Sandvik's virtual Capital Markets Day, Stefan Widing, President and CEO of Sandvik and Tomas Eliasson, Executive Vice President and CFO of Sandvik, will provide an update on the company's performance and present the key strategic focus areas of Sandvik's shift to growth. The overall strategy and financial targets remain the same and focus going forward will be on capturing opportunities to accelerate growth.

"The recent years we have focused on stability before growth and to ensure agility and ability to quickly adjust to changing market conditions, which has resulted in a strong company and a solid platform. I am pleased to say that we will now shift to growth, and our new organizational set up will allow us to capture the interesting opportunities that lies ahead of us," says Stefan Widing, President and CEO of Sandvik.

The financial growth target for the Group remain at ≥5% through a business cycle, organically and through acquisitions, and the business area Presidents will at the Capital Markets Day present the key focus areas for the growth ambitions in their respective operations. Sandvik Manufacturing and Machining Solutions, Sandvik Rock Processing Solutions and Sandvik Mining and Rock Solutions aim to grow at least twice as fast as their respective estimated market growth. In addition, Sandvik Manufacturing and Machining Solutions objective is to increase the sales from adjacent and digital solutions by 5x from 2019 to 2025.

In October, Sandvik announced that it will establish a new business area, Sandvik Rock Processing Solutions, consisting of the current Crushing and Screening division, as of 1 January 2021. Full proforma numbers for the new business area and the remainder Sandvik Mining and Rock Solutions will be available during the first quarter of 2021 and a summary is to be provided during the Capital Markets Day.

  *Adjusted for Items Affecting Comparability

Dial-in details for the conference call, starting at 13.00 CET:

SE: +46 8 566 426 95

UK: +44 333 300 9262

US: +1 833 526 8396

No pre-registration is required. Please visit our website home.sandvik/investors for more information.

Recordings of the presentations and the corresponding slides will be available on Sandvik's website no later than 4 November.

Stockholm, 3 November 2020

Sandvik AB

For further information, contact
Emelie Alm
Investor Relations Officer
phone: +46 79 060 8717 or

Martin Blomgren
Press and Media Relations Manager
phone: +46 70 577 0549

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/sandvik/r/sandvik-s-capital-markets-day-to-focus-on-the-shift-to-growth,c3229532

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SOURCE Sandvik

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