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Sandvik Group

Report on the second quarter 2008: Stable demand and strong cash flow

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President's comment:

"Demand for Sandvik's products remained favorable. Order intake increased in price and volume by 2%. Adjusted for working days, metal price effects and major project orders the order intake increased by about 9%. Invoiced sales increased in price and volume by 12% and amounted to SEK 24 billion. Operating profit amounted to SEK 3.8 billion and was negatively impacted by effects of changed currency rates and declining metal prices," said Sandvik's President and CEO Lars Pettersson.

"Higher invoicing and a positive price development did offset increased raw material costs. Furthermore, improved capital efficiency contributed to strong cash flow."

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