Sandvik Sees 4Q Result Hit By SEK1.55 Billion One-Offs
December 10 2015 - 2:55AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Sweden's Sandvik AB (SAND.SK) said Thursday that a
series of one-off costs associated with efficiency measures and
impairments will hit fourth quarter results by 1.55 billion Swedish
kronor ($184 million).
The engineering company has announced a further round of
structural efficiency measures that includes reducing the number of
production units and making changes to its supply chain, which it
expects will generate annual savings of about SEK600 million.
Of the total SEK1.55 billion costs, impairment losses account
for SEK975 million and mainly relate to weaker than expected
performance in parts of its China operations, the company said.
Shares closed Wednesday at SEK79.40.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
December 10, 2015 02:40 ET (07:40 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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