Sandvik’s CEO Björn Rosengren. Photo: Jonas Ekströmer / TT
Sandvik’s earnings before tax was SEK 266 million in the fourth quarter of 2015, which was 30 percent worse than expected 380 million, according to SME Direkt summary for the report.
in the fourth quarter, Sandvik’s order intake organically by 7 percent in the fourth quarter compared with last year’s corresponding period. Total order intake amounted to 19.531 billion kronor, compared with analysts forecast of 19.902 billion crowns.
“Order intake was inhibited by a weakened market activity, particularly in Asia and North America, as well as a general weakening in the energy segment. in China recorded a general slowdown in most segments, “writes CEO Björn Rosengren in the report.
” in the US, low oil prices negatively affect the energy segment, with a negative indirect effect on demand in the engineering segment. order intake for Sandvik mining was in line with last year. We noted, however, a slowdown in the aftermarket for the mining industry in the latter part of the year, “the CEO on.
Sandvik also report to orders of approximately SEK 100 million were canceled in Mining during the quarter (total orders: 4.8 billion). Cancellation pertained primarily equipment for crushing and screening in China.
A dividend of SEK 2.50 per share is proposed (3.50). According to SME Direkt was expected to average 2.67 crowns.
Sandvik track that operating profit during the first quarter of this year will be affected by less 300 million of currency effects, compared with the same quarter last year. It appears from the report’s quarterly financial guidance.
In the fourth quarter earnings were affected positively by approximately SEK 70 million. The forecast for the quarter was plus 100 million.
Changes in exchange rates contributed positively by 3 percent to Sandvik’s order intake and invoiced sales during the quarter, compared with 6 percent and 7 percent in the third quarter.
Metal prices predicted to affect operating profit in the first quarter to minus SEK 130 million, compared with minus 118 million in the fourth quarter (SMEs -125).
Sandvik estimates the investment level to 4, 1 billion in 2016.
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