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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Sandvik AB    SAND   SE0000667891

SANDVIK AB

(SAND)
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Sandvik : proceeds towards separate listing of Sandvik Materials Technology - Sandvik Group

10/16/2020 | 07:20am EST

Sandvik Board of Directors has today decided that following the completion of the internal separation of Sandvik Materials Technology (SMT), Sandvik will proceed with the preparation to distribute SMT to Sandvik's shareholders and list the company's shares on the Nasdaq Stockholm Exchange.

The Board intends to propose the distribution and listing of the SMT shares at a shareholders' meeting in 2022, provided that the circumstances are deemed right at the time. The intended distribution of shares is expected to meet the Lex Asea requirements and is subject to approval by Sandvik's shareholders.

"The Board believes that both Sandvik and Sandvik Materials Technology can develop more favorably on their own. Both Sandvik and SMT are well positioned within their areas and we believe this will improve long-term shareholder value. However, a listing should be done when circumstances are favorable," says Johan Molin, Chairman of the Sandvik Board of Directors.

"Sandvik Materials Technology is leading in its field, I'm convinced that this is the right direction for SMT and for Sandvik," says Stefan Widing, President and CEO of Sandvik.

"I'm very pleased with that the Sandvik Board of Directors has taken this decision today. It is an important step towards an exciting future," says Göran Björkman, President of Sandvik Materials Technology.

More information will follow as the work progress.

A webcasted press conference for media and investors is held today in connection to the presentation of the Q3 results starting at 13.00 CET.

Stockholm

Sandvik AB

For further information, contact Emelie Alm, Investor Relations Officer, phone: +46 79 060 8717 or Martin Blomgren, Press and Media Relations Manager, phone: +46 70 577 0549.

This information is information that Sandvik AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at about 11.30 CET on 16 October 2020.

.

(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials
Sales 2020 86 805 M 10 153 M 10 153 M
Net income 2020 9 259 M 1 083 M 1 083 M
Net cash 2020 5 242 M 613 M 613 M
P/E ratio 2020 27,5x
Yield 2020 2,05%
Capitalization 241 B 28 179 M 28 222 M
EV / Sales 2020 2,72x
EV / Sales 2021 2,50x
Nbr of Employees 34 969
Free-Float 97,6%
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Technical analysis trends SANDVIK AB
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 195,18 SEK
Last Close Price 196,20 SEK
Spread / Highest target 19,8%
Spread / Average Target -0,52%
Spread / Lowest Target -26,1%
EPS Revisions
Managers
NameTitle
Stefan Widing President, Chief Executive Officer & Director
Johan Molin Chairman
Tomas Eliasson Chief Financial Officer & Executive Vice President
Percy N. Barnevik Honorary Chairman
Tomas Ivar Kärnström Director
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