Order intake was SEK20,719 million, down 16% from 2012 (SEK26,190). Gross profit was SEK7,758 million, down 18% from 2012 (SEK9,473).

“With the exception of certain segments, the market situation for Sandvik’s offering in the second quarter remained largely on par with the first quarter,” said Sandvik CEO Olof Faxander. “Demand in the energy segment continued to improve somewhat, while activity in the mining industry declined. Order intake was adversely affected by the adjustment of SEK 1.1 billion of nuclear related orders, as previously announced, and amounted to SEK 20.7 billion, a decline of 8% compared with the preceding quarter at fixed exchange rates for comparable units. [...]

“The business climate during the second quarter remained largely unchanged for most of Sandvik’s customer segments and regions. The demand in Europe improved somewhat compared with the preceding quarter, partly driven by the positive performance in Russia. North America remained stable at a high level. Order intake in Australia and Asia was signi?cantly impacted by the weakness in the mining industry, mainly related to coal and iron ore. However, supported by the order backlog invoicing was stronger. Demand in South America was varied.

"Machining Solutions remained largely on par with the preceding quarter, with continued high demand from the aerospace industry. The cautiously optimistic market conditions experienced earlier in the year by Sandvik Materials Technology continued in the second quarter, although the absolute levels remain low.”