Sandvik buoyed by mining contribution

Sandvik’s mining business contributed 51% of its SEK126.5 billion (US$12 billion) group revenue in the 12 months to the end of December, 2023, which was up 13% year-on-year.

Sandvik Mining and Rock Solutions (SMR), the company’s largest mining equipment, consumables and technology business, contributed SEK65.690 billion (US$6.28 billion) of sales, up 16% yoy, and a 20.9% EBITDA margin.