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Report on the second quarter 2006

President's comment:

"The business climate remained good during the second quarter and growth was favorable. The increase in profit was primarily attributable to higher capacity utilization, an improved product mix and increased productivity. Invoicing increased by a total of 11% to SEK 17.9 billion, the operating margin increased to 16.8% and earnings per share rose by 33%.

It was positive that the profit margin increased within all business areas through a focus on increased customer care, a better product mix and greater internal efficiency. The positive price effect offset the higher raw materials costs. It was also gratifying that we acquired three companies that give Sandvik a strong position in an attractive new application area, mineral exploration," says Lars Pettersson, Sandvik's President and CEO.