Sandvik Beats Estimates as Mining Demand Drives 15% Growth for Stefan Widing

Sandvik surpassed financial expectations with an adjusted operating profit of 5.9 billion kr and 15% organic order growth during the fourth quarter.CEO Stefan Widing highlighted strong demand in the mining and machining sectors while noting that a broader industrial recovery is not yet fully visible.A stronger Swedish krona negatively impacted the operating margin by 1.3 percentage points although the group continues to outperform its competitor Epiroc.