Sweden-based mining equipment manufacturer Sandvik has reported its "highest ever" quarterly order intake in Q3 2021, following a 21% year-on-year (YoY) rise to 26 billion SEK (US$3.01 billion).
The company attributed "strong underlying demand" in the industry in its interim Q3 report. Additionally, it claimed that its mining and rock solutions "continued the positive trajectory" of 2021.
The company's revenues also increased by 13%, rising to 24 billion SEK (US$2.78 billion).
Furthermore, it explained that it had seen an accelerated interest in its automation solutions and battery electric interest vehicles.
The company's rock processing solutions also performed well despite what it called "supply chain and logistics issues".
Additionally, its manufacturing and machining solutions grew by 16%, 8.6 billion SEK ($997 million), and 18%, 8.8 billion SEK ($1.02 billion) respectively, despite component shortages in global automotive production.
Stefan Wilding, president and chief executive office, Sandvik, said the company has taken important steps to become more "digitally-focused" and pointed to a number of "strategic acquisitions", such as that of CNC Software, designed to improve processes.
"As a growth-focused, resilient and high-performing company, and with an underlying demand for our solutions, Sandvik is well-positioned to execute on profitable growth, and to deliver long-term shareholder value," Wilding said.
