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    SAND   SE0000667891

SANDVIK AB

(SAND)
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Sandvik : CFO Tomas Eliasson to leave Sandvik

08/30/2021 | 05:31am EDT

Tomas Eliasson, Executive Vice President and Chief Financial Officer, CFO, for Sandvik has decided to leave his position as of October 31, 2021, after more than five years in the Group. 

"Tomas Eliasson has been a key member of Sandvik Group's Executive Management since 2016 and I'm very thankful for his contributions to the Group over the years. He has played an essential role in the decentralization of Sandvik and in making the company more agile and flexible. Tomas has established a very solid governance model for us to ensure strong results in our different divisions and to deliver stable margins as a Group over time", says Stefan Widing, President and CEO of Sandvik.

The recruitment process for a new CFO has been initiated. Until a permanent solution has been found, Cecilia Felton, currently Vice President Group Control, will serve as the company's interim CFO effective as of November 1. Tomas Eliasson will until February 1, 2022, also be available to ensure a smooth transition.

Stockholm, August 30, 2021

Sandvik AB

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.

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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 sustainability. 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 2020 the Group had approximately 37,000 employees and revenues of about 86 billion SEK in more than 160 countries within continuing operations.

https://news.cision.com/sandvik/r/cfo-tomas-eliasson-to-leave-sandvik,c3405906

https://mb.cision.com/Main/208/3405906/1461237.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 95 921 M 11 146 M 11 146 M
Net income 2021 13 727 M 1 595 M 1 595 M
Net Debt 2021 5 567 M 647 M 647 M
P/E ratio 2021 19,4x
Yield 2021 2,49%
Capitalization 266 B 30 929 M 30 944 M
EV / Sales 2021 2,83x
EV / Sales 2022 2,46x
Nbr of Employees 38 995
Free-Float 97,3%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 212,30 SEK
Average target price 254,17 SEK
Spread / Average Target 19,7%
EPS Revisions
Managers and Directors
Stefan Widing President, Chief Executive Officer & Director
Tomas Eliasson Chief Financial Officer & Executive Vice President
Johan Molin Chairman
Lars Erik Westerberg Independent Director
Jennifer Margaret Allerton Independent Director
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