Sandvik reports Q1 earnings up by 34% on strong demand

Earnings at Swedish engineering group Sandvik increased by 33.78% year-on-year in the first quarter of 2017, the company said on Monday April 24.

The group’s earnings before interest, taxes, depreciation and amortisation (Ebitda) reached SKr4.67 billion ($516.68 million) in January-March 2017, up from SKr3.49 billion ($386.13 million) over the corresponding months in 2016. “We noted good momentum in our businesses in the first quarter. Improved customer activity resulted in positive order growth in all three business areas and in other operations,” president and ceo Björn Rosengren said. “On increased customer activity and the efficiency measures we have...

Published

Maria Tanatar

April 24, 2017

15:20 GMT

Dnepr