"Demand for Sandvik's products remained high in all markets during the first quarter. Order intake increased in price and volume by 8%, amounting to SEK 25 billion. Invoiced sales increased in price and volume by 5% and amounted to SEK 22 billion. Operating profit was charged with SEK 517 M related to certain products in Sandvik Materials Technology and amounted to SEK 3.2 billion and the operating margin was 14.5%. However, adjusted for the effect of nickel prices, operating profit totaled SEK 3.7 billion and the operating margin amounted to 16.9%", says Sandvik's President and CEO Lars Pettersson.
"The trend of underlying profitability was positive, but invoicing and earnings were negatively impacted by fewer working days, delays in a number of projects and the continued shortage of components in Sandvik Mining and Construction. The gap between order intake and invoicing means that we must intensify our efforts to eliminate bottlenecks."