Sandvik registers record order intake for mining equipment in Q3

Sandvik Mining and Rock Solutions booked its highest order intake on record during the September quarter as demand for the company’s solutions continued the positive trajectory the OEM has seen throughout the year.

The company, a part of the Sandvik Group, recorded a strong contribution from all divisions, it said.

Organic order intake grew by 21% year-on-year to SEK12.1 billion ($1.4 billion) including a major order of SEK432 million. Total order intake, at fixed exchange rates, grew by 41%, the company added.

Organic order intake for equipment grew by 28% and aftermarket by 16% year-on-year, it said.

In the quarter, the company also completed the acquisition of DSI, which saw the company create a Ground Support division. This acquisition contributed to 19% in revenue growth in the quarter, the company said.

The Sandvik Group, meanwhile, reported adjusted EBITA of SEK4.7 billion, up from SEK3.6 billion a year earlier. This corresponded to a margin of 19.1%.