Sandvik distributes proforma numbers for Sandvik Mining and Rock Technology
Sandvik announced on 28 October 2019 that the agreement to divest the majority of Drilling and Completions (Varel) was signed. As earlier stated, the related write-down impacted the net profit in the fourth quarter of 2019 by -3.9 billion SEK, out of which -4.2 billion SEK impacted operating profit negatively whilst impact on taxes was positive by +0.3 billion SEK. Related to the ongoing divestment, Varel has been moved out of Sandvik Mining and Rock Technology and is instead reported in Other Operations until expected closure of the deal, during the first quarter of 2020. In line