Sandvik AB (publ) (SAND) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:06.558 A warm welcome to Sandvik's presentation of the second quarter results 2025. 00:00:06.561 -- 00:00:09.646 My name is Louise Cheddar, Head of Investor Relations. 00:00:09.646 -- 00:00:15.596 And of course, beside me, I have our CEO Stefan Widing and CFO Cecilia Felton. 00:00:15.596 -- 00:00:20.403 We will, as we usually do, start with the presentation, present the quarterly highlights, 00:00:20.403 -- 00:00:24.630 and after that, we will move on to the Q&A session. 00:00:24.630 -- 00:00:27.942 And with this short introduction, I will hand over to you, Stefan. 00:00:27.942 -- 00:00:33.251 Thank you, Louise. And also from me, welcome to the second quarter report of 2025. 00:00:33.251 -- 00:00:38.781 If we summarize the quarter, of course, we have to start with the order intake, 00:00:38.781 -- 00:00:43.850 which is at an all time high level. We see a strong momentum in mining and 00:00:43.850 -- 00:00:49.521 also in powder solutions. We see a positive development in the software business, aerospace 00:00:49.521 -- 00:00:52.546 and some of the smaller segments. I'll come back to that. 00:00:52.546 -- 00:00:57.274 While, of course, demand in general engineering, automotive and infrastructure continues 00:00:57.274 -- 00:00:59.078 to be soft. 00:00:59.078 -- 00:01:05.169 Order intake was stable year on year, but organically it grew by 10%. 00:01:05.169 -- 00:01:10.875 Total revenue decreased by 5%, but organically it grew by 3%. 00:01:11.092 -- 00:01:16.500 We consider this to be a solid quarter from a profitability point of view, with an adjusted 00:01:16.500 -- 00:01:21.989 EBITDA of 5.6 billion, corresponding to a margin of 19% versus 00:01:21.989 -- 00:01:23.471 19.6% 00:01:23.471 -- 00:01:28.619 last year, and a rolling 12 of 19.4, ...