Sandvik’s mining equipment, parts, technology and service orders surged above US$2 billion and division revenues rose 4% year-on-year to $1.65 billion in the March quarter in what CEO Stefan Widing described as an excellent start to 2026 for the manufacturer.
The company’s mining and machining businesses drove group revenues 5% higher yoy to SEK30.68 billion (US$3.33 billion) while group order intake grew 12% yoy to SEK36.76 billion ($3.99 billion).
Widing said the record mining order intake level reflected “strong demand across equipment divisions and in the aftermarket business”. Two major orders received in the quarter totalled about $65 million.
“Activity levels remained high in the mining industry driven by elevated mineral prices,” Widing said.
“The high production pace, in combination with an aging fleet, continued to drive consumption for parts and services. Customers continued to invest in digital solutions to drive efficiency, extend production capabilities and improve safety.
“Accelerating digital is one of our strategic objectives and I am pleased to see another quarter with double digit growth in our digital businesses.”
Widing said interest in Sandvik’s mining automation products was also high.
“A highlight in the quarter was the multiple AutoMine orders from a large customer who now run most of its global operations with AutoMine,” he said.
Sandvik acquired South African mining, construction and defence equipment training simulator firm, ThoroughTec Simulation, in February. It introduced a cloud-based drilling data analytics service, My Sandvik Geo, in Q1.
Canadian national Patrick Murphy has been announced as Sandvik’s mining business area president, replacing the retiring Mats Eriksson on July 1. Murphy, currently heading the company’s rotary drilling arm within the mining business, previously ran underground drilling and rock drills and technologies, which is now Sandvik’s digital mining technologies unit.
