Advancing to 2030
Sandvik has presented an updated Group strategy – Advancing to 2030. The strategy is centered around five strategic objectives, focusing on growth, innovation, digitalization, profitability, and high-performing teams, with sustainability embedded in all operations.
Sandvik is currently operating under a strategy that leads up to the end of 2025. With that period nearing completion, and with most of the targets having been achieved, the company has presented an updated strategy for 2026–2030.
“The revised strategy is called Advancing to 2030 because it emphasizes that we need to continue to move in the good direction that we have set and make progress in that direction,” says Stefan Widing, President and CEO Sandvik.
The Advancing to 2030 strategy has five strategic objectives: drive growth, empower high-performing teams, accelerate digital, deliver profitability and efficiency and lead industry innovation (see fact box).
Focus on growth and profitability
“Driving growth and delivering profitability and efficiency are related to our financial targets,” says Widing. “Organic growth is always the highest priority. This is achieved mainly through leveraging our premium products and innovation, which will continue to be at the core of Sandvik. We have also now built a strong foundation in our digital offering and have a new objective to accelerate this progress.”
The objective of empowering high performing teams replaces the existing employer of choice objective. “We continue to want to be the employer of choice,” says Widing. “But we also want to make sure that employees are empowered to perform at the highest level.”
Sustainability will not be a separate strategic objective but embedded in all operations and it remains just as important as before. Sustainability achievements will continue to be followed up in the target setting, such as for sustainable solutions and emissions reductions.
Purpose and core values
In connection with the launch of the updated strategy, Sandvik has also revised its purpose to “Advancing the world through Engineering” and presented revised core values: Winning together, Curiosity, Responsibility and Customer focus.
“We should be very proud of what we have achieved because we have delivered on many of the targets we set out a few years ago,” says Widing. “We have made good progress. And through our revised core values, our purpose and our updated strategy, Sandvik will continue to be recognized as one of the world's leading industrial technology companies.”
Advancing to 2030 strategy
Drive growth
Driving growth is the principal way that Sandvik creates value for stakeholders and increases returns for shareholders. The existing growth target of 7 percent, achieved through organic and acquisitive growth, will continue until 2030.
Empower high-performing teams
Targets relate to health and safety and employee engagement. An increased emphasis on psychological safety will be measured by a psychological safety index.
Accelerate digital
The continued digitalization of Sandvik will create a more intelligent, automated and resilient business, delivering leading experiences and efficiency to empower customers and colleagues. The new 2030 digital revenue target is 13 BSEK.
Deliver profitability and efficiency
Includes EBITA target range, which remains at 20 to 22 percent, and productivity, capital efficiency, and emissions reduction targets.
Lead industry innovation
Investment of about 4 percent of revenues into R&D will continue. New innovation sales ratio and sustainable solutions targets to be established.