Sandvik AB (publ) (SAND) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

A warm welcome to Sandvik's presentation of the third quarter results 2025. My name is Louise Cheddar, Head of Investor Relations here at Sandvik and beside me I have our CEO Stefan Widing and CFO Cecilia Felton. We will do as we usually do. We will start with the presentation. Stefan and Cecilia will take you through the highlights of the quarter. And then we will move on to your questions. And with this, it's time to listen to the presentation. And over to you, Stefan. Thank you, Louise. And also from my side, welcome to Sandvik's third quarter report in 2025. It's a quarter that's been characterized by a strong momentum and strong demand in several of our key segments. We see a strong demand in mining, in software solutions, Also, cutting tools are up by single digits, and the underlying demand in general engineering has been stable. We have seen strong growth also in aerospace and defense and, however, a weak picture in automotive. In infrastructure, the demand has been mixed, and I'll come back to that later in the presentation. Total order intake grew by 7% and organically we grew by 16%. Total revenues decreased by 4% but grew organically by 5%. We see resilient delivery on the margin considering the significant currency headwinds we have in the quarter. Adjusted EBITDA came in at 5.5 billion, which corresponds to a margin of 19%. And the rolling 12 months is now 19.3 versus 19.2, same period last year. We see continued effect from our restructuring programs with savings of 145 million in the quarter. Adjusted profit for the period amounted to 3.5 billion and we had a good free operating cash flow of 5.6 billion corresponding to a cash conversion of 105% in the quarter. We have launched several key innovations in the quarter. First of all is the Mastercam co-p...