Sandvik utilizes strong balance sheet for debt reduction

During the second quarter, Sandvik has utilized its strong cash position for redemption of US private placement notes and a bilateral loan, to the total amount of 5,100 million SEK. The net cost related to the redemption amounts to -200 million SEK. Consequently, the finance net in the second quarter 2019 will amount to approximately -450 million SEK.

For the full year 2019 the finance net is estimated to about 1 billion SEK, in line with previous guidance, as the quarterly interest net will be lower as from the third quarter 2019, due to the lower debt level.

Additional details will be released in conjunction with the second quarter report at 11.30 CET on 17 July 2019.  

Stockholm, 27 June 2019

Sandvik AB

For further information, contact Ann-Sofie Nordh, Vice President Investor Relations, phone: +46 8 456 14 94 or Martin Blomgren, Press and Media Relations Manager, phone: +46 70 577 0549.

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Sandvik Group
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2018, the Group had approximately 42,000 employees and revenues of about 100 billion SEK in more than 160 countries within continuing operations.

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About Us

Sandvik Group Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2018, the Group had approximately 42,000 employees and revenues of about 100 billion SEK in more than 160 countries within continuing operations.