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    SAND   SE0000667891

SANDVIK AB

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Delayed Nasdaq Stockholm  -  05/20 11:29:47 am EDT
192.10 SEK   +0.71%
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Sandvik acquires quality management software provider Dimensional Control Systems

12/29/2021 | 08:01am EDT

Sandvik has acquired US-based Dimensional Control Systems (DCS) - a leading global provider of dimensional quality management software and on-site engineering services. DCS's offering will complement and enhance Sandvik's existing portfolio within metrology. The company will be reported in the Industrial Metrology division, within business area Sandvik Manufacturing and Machining Solutions.

"This acquisition is in line with our strategic focus to grow in the digital manufacturing space, with special attention on industrial software close to component manufacturing. Dimensional Control System's offering, in combination with our extensive manufacturing know-how, will enhance Sandvik's overall digital offering - and specifically our industrial metrology solutions," says Stefan Widing, President and CEO of Sandvik.

DCS's software solutions include CAD simulation tools, enabling customers to improve and validate their component design and metrology measurement plan - resulting in reduced scrap, rework, downtime and non-conformance issues. The company is a trusted partner of many major OEM's and other manufacturers world-wide. It has more than 400 software customers in automotive, aerospace, high-tech electronics, medical devices and industrial machinery manufacturing - with 10,000 licenses in total. Software revenues represent 65% of total sales, of which 40% are recurring revenues.

"Dimensional Control Systems' software suites have strong underlying growth and will further strengthen our end-to-end metrology solutions by adding three-dimensional analysis and quality assurance capabilities, as well as deep Geometric Dimensioning and Tolerancing expertise. This will significantly improve quality and productivity for our customers, enabling more sustainable manufacturing. I would like to welcome the DCS team to Sandvik," says Christophe Sut, President of Sandvik Manufacturing Solutions.

Dimensional Control Systems is headquartered in Troy, Michigan, USA, and has a global network of distributors and resellers. In 2020, the company had about 70 employees, revenues of approximately SEK 92 million (USD 10 million) and an EBITA margin neutral to Sandvik Manufacturing and Machining Solutions. DCS's software business has had a historical annual growth rate of approximately 10 percent - and is expected to grow at similar pace going forward. Impact on Sandvik's earnings per share will initially be neutral. The parties have agreed not to disclose the purchase price.

Stockholm, December 29, 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/sandvik-acquires-quality-management-software-provider-dimensional-control-systems,c3479522

https://mb.cision.com/Main/208/3479522/1515520.pdf

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

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Sales 2022 105 B 10 576 M 10 576 M
Net income 2022 16 177 M 1 624 M 1 624 M
Net Debt 2022 21 055 M 2 113 M 2 113 M
P/E ratio 2022 14,7x
Yield 2022 2,87%
Capitalization 241 B 24 187 M 24 187 M
EV / Sales 2022 2,49x
EV / Sales 2023 2,19x
Nbr of Employees 44 559
Free-Float 97,3%
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Number of Analysts 23
Last Close Price 192,10 SEK
Average target price 249,45 SEK
Spread / Average Target 29,9%
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Managers and Directors
Stefan Widing President, Chief Executive Officer & Director
Cecilia Felton Chief Financial Officer & Executive Vice President
Johan Molin Chairman
Jennifer Margaret Allerton Independent Director
Claes G÷sta Boustedt Independent Director
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