Sweden: Sandvik’s Rock and Mining division’s revenue has fallen by 3% year-on-year to Euro3.30bn in 2016 from Euro3.52bn in 2015. Its order intake also fell slightly to Euro3.38bn although it says it rose slightly if currency variations throughout the year are taken into account. Notably, its order intake rose sharply by 19% year-on-year to Euro970m in the fourth quarter of 2016. Its operating profit for 2016 rose by 33% to Euro430m. Overall the engineering company has reported slight declines in revenue and order intake across all of its businesses although this has picked up in the fourth quarter of 2016.
Sandvik Rock and Mining division revenue falls slightly in 2016
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