Sandvik 1Q Net Profit Rises, Says Japan Quake May Hit 2Q Sales

   DOW JONES NEWSWIRES 

Swedish metals and engineering company Sandvik AB (SAND.SK) Tuesday said indications of reduced vehicle production in Japan could mean lower order intake and invoiced sales during the second quarter, as it reported a SEK2.03 billion in first quarter net profit attributable to shareholders, up from SEK1.06 billion the same quarter last year.

   MAIN FACTS: 

-First quarter order intake was SEK24.9 billion, up 12% year-on-year, from SEK22.27 billion.

-First quarter revenue was SEK22.03 billion, up 19% year-on-year, from SEK18.53 billion.

-Changed exchange rates impacted order intake and invoiced sales negatively with 6% and 7% respectively, or by SEK1.3 billion each.

-First quarter operating profit (Ebit) was SEK3.27 billion, up from SEK1.9 billion the same quarter last year, which translated into an operating margin of 14.8%, up from 10.2% the same quarter last year.

-Sales in Tooling came in at SEK6.52 billion, up from SEK5.55 billion, and operating profit came in at SEK1.4 billion, up from SEK834 million the same quarter last year.

-Sales in Mining and Construction came in at SEK9.18 billion, up from SEK7.59 billion, and operating profit came in at SEK1.33 billion, up from SEK623 million the same quarter last year.

-Sales in Materials Technology came in at SEK4.6 billion, up from SEK4.02 billion, and operating profit came in at SEK362 million, up from SEK312 million the same quarter last year.

-At 1028 GMT shares traded 3.4% lower at SEK121.2.

-By Sven Grundberg, Dow Jones Newswires; [phone]; [e-mail]