Sandvik’s Capital Markets Day focuses on growth
01 December 2020
At Sandvik’s virtual Capital Markets Day, Stefan Widing, President and CEO of Sandvik, and Tomas Eliasson, Executive Vice President and CFO of Sandvik, provided an update on the company’s performance and present the key strategic focus areas of Sandvik’s shift to growth. The overall strategy and financial targets remain the same and focus going forward will be on capturing opportunities to accelerate growth.
“In recent years we have focused on stability before growth and to ensure agility and ability to quickly adjust to changing market conditions, which has resulted in a strong company and a solid platform. I am pleased to say that we will now shift to growth, and our new organizational set up will allow us to capture the interesting opportunities that lies ahead of us,” says Stefan Widing, President and CEO of Sandvik.
The financial growth target for the Group remain at ≥5% through a business cycle, organically and through acquisitions, and the business area Presidents presented the key focus areas for the growth ambitions in their respective operations at the Capital Markets Day. Sandvik Manufacturing and Machining Solutions, Sandvik Rock Processing Solutions and Sandvik Mining and Rock Solutions aim to grow at least twice as fast as their respective estimated market growth. In addition, Sandvik Manufacturing and Machining Solutions objective is to increase the sales from adjacent and digital solutions by 5x from 2019 to 2025.
In October, Sandvik announced that it will establish a new business area, Sandvik Rock Processing Solutions, consisting of the current Crushing and Screening division, as of January 1st, 2021. Full proforma numbers for the new business area and the remainder Sandvik Mining and Rock Solutions will be available during the first quarter of 2021.
Courtesy of Sandvik.