STOCKHOLM, Sweden, Feb. 14, 2002 (PRIMEZONE) -- Sandvik AB:
-- Invoiced sales: SEK 48,900 M, up 3% at fixed exchange rates
for comparable units
-- Profit: SEK 5,606 M after financial items, up 2%, excluding
items affecting comparability
-- Cash flow: SEK 5,093 M before investments
-- Extensive program of change under way; 800 fewer
employees in Q4
-- Proposals to Annual General Meeting 7 May 2002:
- Dividend: SEK 9.50, increase of 6%
- Buy-back: 10% of shares. Current authorization 5%
Key figures Q4 Q4 Change Full- Full- Change
year year
SEK M 2001 2000 % 2001 2000 %
Order intake 11 350 11 370 +0(1) 47 900 45 000 +6(1)
-
Invoiced sales 12 780 11 940 +7(2) 48 900 43 750 +12(2)
Operating 1 278 1 552 -18(4) 6 103 6 327 -4(3)
profit
% 10 13 12 14
Profit after 1 149 1 419 -19(4) 5 606 5 804 -3(3)
financial
items
% 9 12 11 13
Profit after
financial
items excl.
items
affecting
compar-
ability 5 266 5 144 +2
% 11 12
Net profit 1 065 990 +8(4) 3 688 3 712 -1(3)
% 8 8 8 8
Earnings per 14.40 14.30
share, SEK
Return on net 17.4 20.3
assets, %
1) -11% and -4% at fixed exchange rates for comparable units.
2) -3% and +3% at fixed exchange rates for comparable units.
3) Including items affecting comparability SEK +340 M in 2001 and
SEK +660 M in 2000.
4) Including costs for restructuring program expense SEK -515 M and
capital gain SEK +340 M in Q4 2001.
Short Term Market Outlook*
Demand is expected to remain weak in the near future. An extensive program of change is under way within the Group to further enhance efficiency and reduce cost levels. At the same time, the Group is ready to capitalize on business opportunities in the event of increased demand.
* Previous short-term market outlook (published 9 November 2001) The market trend in NAFTA continues to be negative and a decline is now also being noted in Europe. Demand is expected to remain low in the near future, and now also in the investment-related segments. However, the Group is well positioned to take additional market shares, at the same time as the program of change aimed at retaining profitability is intensified.
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