STOCKHOLM, Sweden, Aug. 7, 2002 (PRIMEZONE) -- Sandvik AB:
-- Profit after financial items: SEK 1,457 M in the quarter, 12% of invoicing -- Invoicing: SEK 12,510 M, up 1% -- Strong cash flow from operations: SEK 1,898 M -- Valenite acquired Key figures Q2 Q2 Change Q1-2 Q1-2 Change SEK M 2002 2001 % 2002 2001 % Order intake 12 870 12 980 -1 (1) 25 700 25 550 +1 (1) Invoiced sales 12 510 12 440 +1 (2) 24 310 24 490 -1 (2) Operating 1 614 1 760 -8 3 035 3 400 -11 profit % 13 14 12 14 Profit after 1 457 1 635 -11 2 718 3 160 -14 financial items % 12 13 11 13 Net profit 970 982 -1 1 738 1 883 -8 % 8 8 7 8 Earnings per 14.00 13.50 share (3), SEK Return on 15.6 18.7 capital employed (3), % (1) -9% and -7% at fixed exchange rates for comparable units. (2) -7% and -9% at fixed exchange rates for comparable units. (3) Rolling 12 months.
Short-term market outlook
The outlook presented in the preceding interim report remains valid: "No significant change in the demand situation is expected for Sandvik in the near future. The process of change under way in the Group is proceeding as planned, which means that higher efficiency and cost savings successively affect profitability positively. The readiness is high to capitalize on a future increase in demand."
Concurrently, Sandvik's market position is being strengthened through acquisitions.
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www.waymaker.net/bitonline/2002/08/07/20020807BIT00020/wkr0001.doc The Full Report www.waymaker.net/bitonline/2002/08/07/20020807BIT00020/wkr0002.pdf The Full Report