SANDVIKEN, Sweden, Feb. 11, 2003 (PRIMEZONE) -- Sandvik AB (Other OTC:SDVKY) (Stockholm:SAND):
-- Fourth quarter:
- Invoicing, SEK 12,660 M, down 1% compared with year earlier
- Profit: SEK 1,309 M (1,149) after financial items, 10% of invoicing
-- Full-year 2002:
- Invoicing, SEK 48,700 M, unchanged level compared with year earlier
- Profit: SEK 5,063 M (5,606) after financial items, 10% of invoicing
-- Cash flow: SEK 7,190 M before investments, up 41% compared with year
earlier
-- Two strategic company acquisitions within Sandvik Tooling, Walter
and Valenite
-- Proposals to Annual General Meeting May 5, 2003
- Dividend SEK 10.00, increase of 5%
- Buy-back: 10% of shares. Current authorization 10%
Key figures Q4 Q4 Change Full- Full- Change
year year
SEK M 2002 2001 % 2002 2001 %
Order intake 12 680 11 350 +12 (1) 50 230 47 900 +5 (1)
Invoiced sales 12 660 12 780 -1 (2) 48 700 48 900 0 (2)
Operating profit 1 523 1 278 +19 (3) 5 771 6 103 -5 (3)
% 12 10 12 12
Profit after 1 309 1 149 +14 (3) 5 063 5 606 -10 (3)
financial items
% 10 9 10 11
Net profit 940 1 065 -12 (3) 3 436 3 688 -7 (3)
% 7 8 7 8
Earnings per share, 13.70 14.40
SEK
Return on capital 15.4 17.4
employed, %
(1) +12% and -1% at fixed exchange rates for comparable units.
(2) -2% and -7% at fixed exchange rates for comparable units.
(3) 2001: Including capital gain SEK +340 M and costs for
restructuring program SEK -515 M in Q4.
Effective 2003, the Sandvik Specialty Steels business area changed name to Sandvik Materials Technology.
Appendices: 1. Group summary 2. Invoicing and operating profit
The report on 2002 operations has not been audited by the company's auditors. Sandvik Group's result for the first quarter of 2003 will be published in connection with the Company's Annual General Meeting on May 5, 2003.
For additional information, please call +46 (0)26-26 10 01
A combined presentation and telephone conference will be held at the Operaterrassen in Stockholm on February 11, 14:00. For further information visit www.sandvik.com
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www.waymaker.net/bitonline/2003/02/11/20030211BIT00020/wkr0001.doc The full report www.waymaker.net/bitonline/2003/02/11/20030211BIT00020/wkr0002.pdf The full report