Solid financial position supports shift to growth

We have a growth target of 7% through a business cycle, where 50% will be generated from organic growth, and 50% from acquired growth.

Our proven ability to develop new technologies and solutions in tune with our customers, enables us to continue to adjust and benefit from long-term market trends. This, combined with our solid balance sheet, good cash flow generation and a net cash position, will enable us to deliver on our growth target.

Reaching 7% growth through a business cycle

>2x Business areas to grow >2x faster than their respective markets :

Forecasted market growth 2019–2025, CAGR

Sandvik Mining and Rock Solutions ~3%
Sandvik Rock Processing Solutions 2.5–3%

Sandvik Manufacturing and Machining Solutions

Sandvik Machining Solutions* ~2%
Sandvik Manufacturing Solutions* >10%

*Business area segment

Expanding our core competencies and the customer offering

We continue to advance in our core areas, building on and expanding our key competencies within metal cutting, mining equipment and advanced materials.

Combining our core skills and hardware with new digital technologies enables new customer solutions.


Trends shaping our reality

We see several trends impacting our markets. Examples are:

  • Digitalization and connectivity
  • Technological advancements
  • Drive for sustainability
  • Climate change
  • Resource efficiency
  • Economic and political developments

Grasping the opportunities of the future

To remain relevant for future business opportunities we grow our customer offering through acquisitions and partnerships to create new digital and technology solutions to be relevant to customers on a broader spectrum. This enables us to meet the commercial trends of the future which we see emerging and taking off.

The illustration shows the degree of maturity of various technologies.

Examples of future opportunities


The number of acquisitions has increased since 2018, supported by a strong balance sheet. 50 percent of our growth target of at least 5% over a business cycle will be coming from acquired growth and each division owns its own M&A agenda.
Go to the acquisitions page


In recent years a number of businesses have been divested as they were viewed as non-core to Sandvik or not an area where we believe will be a leading supplier. Divestments include Sandvik Drilling & Completions (Varel), Hyperion, Sandvik Process Systems, Wire.