Sandvik AB reported a second-quarter adjusted operating profit of SEK 7.9 billion. This result surpassed the analyst consensus of SEK 7.6 billion. Revenues rose 24% to SEK 36.8 billion, exceeding market expectations. The engineering group's adjusted EBITA margin increased to 22.6% from 19.0% a year earlier.
Order intake reached SEK 37.8 billion, falling short of the projected SEK 38.8 billion. Sandvik shares dropped over 7% following the announcement as investors reacted to the miss.
CEO Stefan Widing highlighted record-level results in order intake, revenues, and earnings. Widing expressed satisfaction with the quarter's strong momentum.