Key data for the fourth quarter of 2023 at a glance
Order quantity300.6.2 billionSwedish krona
At a constant exchange rate，Orders are down2%
Quarterly revenue318.1.6 billionSwedish krona
Calculated at a constant exchange rate，Quarterly revenue growth2%
Adjusted EBITDA（EBITA）62.1.1 billionSwedish krona
Adjusted EBITDA margin19.5%
Adjusted EBIT（EBIT）57.3.8 billionSwedish krona
Adjusted EBIT margin18.0%
Adjusted profit before tax51.0.7 billionSwedish krona
Profit for the period42.5.9 billionSwedish krona
The adjusted profit for the current period is?40.4.7 billionSwedish krona
Diluted earnings per share3.39Swedish krona
Adjusted earnings per share，Diluted3.22Swedish krona
Free operating cash flow54.6.3 billionSwedish krona
The board of directors recommended a distribution of per share.5.50Dividends from SEK
President's comments
Stefan Widing
Sandvik President and Chief Executive Officer
Fourth quarter of 2023，We turned in a good report card.，A perfect end to the year.。At a constant exchange rate，Orders for the quarter fell by 2 percent%，ButRevenue grew by 2 percent%，Adjusted EBITDA margin was 19 percent.5%。Taking into account the impact of the macroeconomic environment，Although performance did not fully meet business cycle targets，However, the overall performance is relatively stable.。
Sandvik Mine and Rock Technology's overall business is in good shape，Although organic orders fell by 3 percent%，ButOrganic revenue grew 5 percent%，It also won three large orders of strategic importance this quarter.。The automation sector remains strong.，The Digital Mining Technologies segment has delivered double-digit growth for 11 consecutive quarters.。We have introduced for underground drilling rigs.Automine®System，Integrate mining equipment into one system，Set new standards for underground mining efficiency。This quarter，We have also launched a second pure electric concept open-air drilling rig.，And belong to that initiative in the same specification product.。In addition，We have also invested in a new testing facility in Finland.，To support the transition of open pit drilling to electrification and automation and optimization technologies。
Affected by the general weakness of market demand，Sandvik Rock Treatment TechnologyOrganic order volume and revenue declined.，ButDemand for mining operations is stable.，Positive aftermarket growth。At the same time，Sandvik Rock Processing Technology has invested in a plant in India for the production of Crusher wear parts，In order to better control production capacity and supply chain。
Sandvik Manufacturing and Machining Solutions Cutting Tools and Software Business Trends Good，The performance of General Machinery business is stable.。Driven by slightly higher auto sales and strong aerospace demand，Organic growth in orders for cutting tools 4%，Software orders and revenue grew by 8 percent%And 10%。Total orders across the business increased by 1% in the quarter%，Among them, organic orders in Asia increased by 10 percent%。We have also acquired a number of quality companies.，Continue to increase the manufacturing field，Boost overall business growth。
Given that the macroeconomic outlook remains uncertain,，It is becoming more and more important to continuously improve the efficiency of the company's operation.。Face the future，Sandvik will continue its efforts to improve operational efficiency by reducing structural costs.，To this，We recently announced a new restructuring plan.。The plan is expected to save 1.2 billion Swedish kronor per year.，The total cost was SEK 2.4 billion.，To be booked in the first quarter of 2024。
Despite a challenging macro environment，In 2023, we still achieved record performance and strong cash conversion rate.。At the same time，We have a relentless focus on transformational strategies，And continue to strengthen our strategic market position，Will better capture future growth opportunities。This is important for the future growth of the company and the creation of value for all Sandvik stakeholders。This is something we should be proud of.，I would like to express my sincere thanks to all Sandvik employees.，Thank you all for your hard work.，Create brilliant together.2023。
Highlights by Business Area for the Quarter
Sandvik Mine and Rock Technology
For the Congo Kamoa-Kakula Provision of underground mining equipment for the copper mine，Worth about SEK 200 million
For the world's largest underground iron ore mine Kiruna Iron Mine to provide automatic scraper.，Worth about 2.SEK 500 million
Obtained the largest open-pit rig order ever，Worth about 2.4.8 billion Swedish kronor
Introduced for underground drilling rigs.Automine®System，Making Sandvik the first company to develop underground mining equipment（Scraper、Truck、Rig）Manufacturer of a unified automation management system。
Introduction of pure electric concept open-air drilling rig
Sandvik Rock Treatment Technology
Received two large orders，The total amount is 1.7.1 billion Swedish kronor
Aftermarket growth8%
The aftermarket business accounted for 61% of total revenues%，Equipment business accounted for 39 percent%
Sandvik manufacturing and processing solutions
Aerospace demand is strong，The General Machinery business remained stable
Organic order volume in Asian market increased by 10%
Acquired the leading US manufacturer of tungsten metal powder and tungsten carbide powderBuffalo Tungsten、 German Powerful Tooth Scraping Software SupplierescoAnd other high-quality companies
