Sandvik’s interim report shows an increase in organic revenues by 22%, to SEK 23,460 million (up from SEK 20,230). Order intake increased organically by 43% from SEK 18,971 billion to SEK 25,857 million and adjusted operating profit was SEK 4,469 million, compared to SEK 2,837 million.

In the company’s Manufacturing and Machining business, revenues were up 33% year on year with a currency impact of SEK 700 million. The strongest year on year growth in order intake was noted in North America and Europe of 48% and 50%, respectively, and a growth of 23% was recorded in Asia.

‘Following a solid start to the year, we concluded yet another quarter with positive momentum,’ said Stefan Widing, president and CEO. ‘Organic order intake and revenues for the Group grew year on year by 43% and 22%, respectively. The adjusted operating profit margin was a solid 19.1% (14.0%), supported by increased volumes and good underlying operating leverage. I am […] happy with the SEK140 million battery-electric vehicle (BEV) orders we received in June, which was a significant record for BEV orders in a month. […] Sandvik Materials Technology’s order intake was SEK 4 billion, a significant sequential improvement driven by our short-cycle businesses and with the receipt of some additional umbilical orders. Organic order intake grew by 74%, on the back of a very challenging second quarter last year, but also strong underlying demand in most customer segments. We are indeed operating in a different business environment compared with a year ago, with stronger momentum for both our short and long-cycle businesses.’

This story uses material from Sandvik, with editorial changes made by Materials Today.