Sandvik AB Non-GAAP EPS of SEK 3.22, revenue of SEK 31.82B; initiates FY24 outlook

Sandvik AB press release (OTCPK:SDVKF): Q4 Non-GAAP EPS of SEK 3.22.
Revenue of SEK 31.82B (+2.3% Y/Y).
Order intake SEK 30,062 million; order intake, at fixed exchange rates, declined by 2%.
Adjusted EBITA SEK 6,211 million; Adjusted EBIT SEK 5,738 million.
Outlook: Capex (cash) Estimated at approx. SEK 5.0 billion for 2024. Currency effects Based on currency rates at the end of December 2023, it is estimated that transaction and translation currency effects will have an impact of about SEK -360 million on EBITA for the first quarter of 2024, compared with the year-earlier period Interest net Estimated at SEK approximately -1.3 billion in 2024. Tax rate Estimated at 23–25% for 2024, normalized.
Sandvik has four long-term financial targets, defined in 2022 Growth A growth of 7% through a business cycle organic and M&A, in fixed currency. Adjusted EBITA range An adjusted EBITA range of 20–22% through a business cycle adjusted for IAC. Dividend payout ratio A dividend payout ratio of 50% of EPS, adjusted for IAC, through a business cycle. Financial net debt/EBITDA A financial net debt/EBITDA of <1.5 excl. transformational M&A

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