Sandvik arranged an online event for shareholders ahead of AGM
On Monday April 26, Sandvik arranged a livestreamed digital event where Group CEO Stefan Widing and Chairman of the Board Johan Molin gave presentations addressing the company’s performance during 2020 and explained the strategic direction going forward.
At the event, held the day before Tuesday’s Annual General Meeting with postal voting, Sandvik shareholders also had the opportunity to ask questions to the CEO and the Chairman.
Stefan Widing referred to the strong report in the first quarter, in which big improvements in order intake across many areas were noted, and he described Sandvik as being in a recovery phase.
”So we look ahead to 2021 with confidence,” he said.
About 100 people joined the livestream, and some of them took the chance to ask questions about topics ranging from the sustainability strategy and ambitions for acquisitions, to research investments and the plans to the separate and list the Sandvik Materials Technology (SMT) business during 2022.
Sustainability an integrated part of the strategy
Stefan Widing said sustainability is an integrated part of Sandvik’s overall strategy, and one of six strategic focus areas in the recently updated strategy. The development in relation to the ambitious sustainability targets set is continuously monitored using a scorecard-based system.
“This is very good for business. The targets are well integrated and will strengthen the business,” Mats W Lundberg, Sandvik’s Head of Sustainability, said on the sustainability targets.
Regarding Sandvik’s acquisition agenda, an important part in the company’s increased growth focus, Johan Molin said he counts on high activity in the divisions, and stated that smaller bolt-on acquisitions is the main part of the strategy.
When it comes to the work on the SMT separation, Widing said that all work internally is being done with the intention to be listing ready in 2022. However a completion of the process requires a board decision and shareholders’ approval, and is of course dependent on that the circumstances are being deemed favorable at that point.
Innovation is key issue to Sandvik, and when responding to a question on whether the pandemic had hurt Sandvik’s innovation efforts in 2020, Johan Molin said that the Board has continued to prioritize investments in research and development throughout the pandemic.
”It’s both my and the Board’s firm opinion that the innovation work has proceeded at a good level,” Molin said.
During the event, the winners of the Wilhelm Haglund Medal for Sandvik’s product developer of the year, and the Sustainability Award in Memory of Sigrid Göransson, were also presented.