SANDVIKEN, Sweden, Oct. 30, 2003 (PRIMEZONE) -- Sandvik AB
Continued growth and improved earnings in the third quarter
"Order intake and invoiced sales increased in the third quarter for comparable units, in a continued weak business climate. Operating profit rose 8% despite negative currency effects. Profit increased for Sandvik Tooling and Sandvik Mining and Construction but declined for Sandvik Materials Technology. The business climate remains uncertain and we do not expect any significant change in demand in the near future," says Sandvik President and Chief Executive Officer Lars Pettersson.
Key figures Q3 Q3 Change Q1-3 Q1-3 Change SEK M 2003 2002 % 2003 2002 %
Order 11 550 11 850 -3 1) 37 380 37 550 0 1) intake Invoiced 11 520 11 730 -2 2) 35 930 36 040 0 2) sales Operating 1 304 1 213 +8 4 162 4 248 -2 profit % 11 10 12 12 Profit 1 103 1 036 +6 3 575 3 754 -5 after financial items % 10 9 10 10 Net profit 788 758 +4 2 530 2 496 +1 % 7 6 7 7 Earnings 3.15 3.00 13.90 3) 14.20 3) per share, SEK Return on 15.3 14.8 capital employed, % 3)
1) +2 % and +3 % at fixed exchange rates for comparable units. 2) +2 % and +3 % at fixed exchange rates for comparable units. 3) Rolling 12 months.
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