Sandvik AB - Report on the fourth quarter and full year 2002
SANDVIK AB - Report on the fourth quarter and full year 2002 ·Fourth quarter: -Invoicing, SEK 12,660 M, down 1% compared with year earlier -Profit: SEK 1,309 M (1,149) after financial items, 10% of invoicing ·Full year 2002: -Invoicing, SEK 48,700 M, unchanged level compared with year earlier -Profit: SEK 5,063 M (5,606) after financial items, 10% of invoicing ·Cash flow: SEK 7,190 M before investments, up 41% compared with year earlier ·Two strategic company acquisitions within Sandvik Tooling, Walter and Valenite ·Proposals to Annual General Meeting 5 May 2003 -Dividend SEK 10.00, increase of 5% -Buy-back: 10% of shares. Current authorization 10% Key figures Q4 Q4 Change Full- Full- Chang year year e SEK M 2002 2001 % 2002 2001 % Order intake 12 680 11 350 +12 1) 50 47 900 +5 1) 230 Invoiced sales 12 660 12 780 -1 2) 48 48 900 0 2) 700 Operating profit 1 523 1 278 +19 3) 5 771 6 103 -5 3) % 12 10 12 12 Profit after 1 309 1 149 +14 3) 5 063 5 606 -10 3) financial items % 10 9 10 11 Net profit 940 1 065 -12 3) 3 436 3 688 -7 3) % 7 8 7 8 Earnings per share, 13.70 14.40 SEK Return on capital 15.4 17.4 employed, % 1) +12% and -1% at fixed exchange rates for comparable units. 2) -2% and -7% at fixed exchange rates for comparable units. 3) 2001: Including capital gain SEK +340 M and costs for restructuring program SEK -515 M in Q4. Effective 2003, the Sandvik Specialty Steels business area changed name to Sandvik Materials Technology. Appendices: 1. Group summary 2. Invoicing and operating profit The report on 2002 operations has not been audited by the company's auditors. Sandvik Group's result for the first quarter of 2003 will be published in connection with the Company's Annual General Meeting on 5 May 2003. For additional information, please call +46 (0)26-26 10 01 A combined presentation and telephone conference will be held at the Operaterrassen in Stockholm on 11 February, 14:00. For further information visit www.sandvik.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/02/11/20030211BIT00020/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/02/11/20030211BIT00020/wkr0002.pdf The full report