Sandvik AB

Sandvik AB (publ) is an engineering company that provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide. Its offerings include mining and rock excavation equipment such as drill rigs, bolters, underground loaders and trucks, mechanical cutting equipment, rock tools and rock drills, and mining automation, as well as rock processing equipment including crushers, screens, hydraulic breakers, demolition tools, and breaker booms. The company also supplies cutting tools and tooling systems, digital solutions and software, metal powder for additive manufacturing, products made from controlled expansion alloys, and tungsten powders, along with recycling services for secondary tungsten raw materials. It serves the aerospace, automotive, mining, general engineering, infrastructure, and other industries, and was founded in 1862 with headquarters in Stockholm, Sweden.

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FLSmidth appoints Petri Virrankoski as new President, Service Business Line

FLSmidth has appointed Petri Virrankoski as President of its Service Business Line, with the new executive expected to join the company during 2027. Until then, Alanas Kraujalis will remain interim President of the Service Business Line. Virrankoski joins from Sandvik's Surface Drilling Division, where he has served as President and a member of Sandvik Mining's management team since 2019. The appointment comes as FLSmidth prepares to pursue organic growth and strategic acquisitions, with a particular focus on strengthening the Service Business Line.

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Sandvik Q2 profit surges 63%, orders climb 17%, but shares drop 6.5%

Sandvik AB reported a 63 percent jump in second-quarter profit to 5.236 billion Swedish kronor, driven by double-digit organic growth in both order intake and revenues. Order intake climbed 17 percent to 37.799 billion kronor, while revenue rose 23.7 percent to 36.752 billion kronor, with organic growth of 17 percent and 23 percent respectively. Adjusted EBITA increased 48 percent to 8.306 billion kronor, yielding a margin of 22.6 percent. The company reconfirmed its long-term financial targets for the 2025–2030 strategy period, including 7 percent growth through a business cycle and an adjusted EBITA range of 20 to 22 percent. Despite the strong results, shares fell 6.46 percent in Stockholm to 348.80 kronor.

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