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Higher demand boosts Sandvik's earnings

Sandvik AB reported fourth-quarter EPS of 5.04 Swedish kronor as total revenue rose 15% to 23.94 billion kronor on improved demand across all business segments.

Order intake rose to 24.11 billion kronor from 21.99 billion kronor in the fourth quarter of 2016.

Fourth-quarter operating profit came in at 4.07 billion kronor, up from 3.28 billion kronor in the year-ago period.

For full year 2017, the company posted group revenue of 90.91 billion kronor and EPS of 10.52 kronor compared to revenue of 81.55 billion kronor and EPS of 4.39 kronor in 2016. Full-year operating profit stood at 14.64 billion kronor, compared to 11.02 billion kronor the previous year.

The Swedish engineering company said that it was able to divest the welding wire operations in Sandvik Materials Technology to ESAB, part of Colfax Corp., on Oct. 30. The divestment was completed on Jan. 31. The completion of the divestment of the Mining Systems business was announced on Nov. 2. This transaction was followed by the completion of the divestment of Sandvik Process Systems to FAM AB on Dec. 1. Sandvik then entered into an agreement to divest Hyperion to the U.S.-listed investment firm KKR for 4 billion kronor.