According to Sandvik?s President and CEO Olof Faxander, overall demand remained favourable in the second quarter of the year for the majority of Sandvik?s customer segments. Order intake remained strong at 26.2 billion SEK and invoiced sales reached 25.9 billion SEK, an increase of 8 per cent in price and volume. Although high on an overall level, the demand fluctuated between various markets.

?Europe weakened slightly while the scenario in North and South America remained strong. Demand from Asia was strong albeit with significant variations between segments. Similar to previous quarters, both Sandvik Mining and Sandvik Machining Solutions noted high demand, while the other business areas all faced a more challenging market situation?, he said.

?Healthy demand and progress ahead of plan regarding our cost savings resulted in an improved operating profit of 4.2 billion SEK, or 16.2 per cent of invoiced sales. An area of strategic importance where challenges remain is capital efficiency, in which Sandvik has tangible improvement potentials,? he added.