Sandvik to book charges of SEK 5.3 bln in third quarter

Alleima AB

29/09/2022 14:42

Sept 29 (Reuters) - Swedish metal-cutting tools and
mining gear maker Sandvik  SAND.ST  said on Thursday it will
book non-recurring charges of about 5.3 billion Swedish crowns
($471.56 million) in the third quarter.
    A capital loss of some 4.7 billion crowns stems from the
distribution of its former subsidiary Alleima  ALLEI.ST  to
shareholders, which will be reported under discontinued
operations.
    Approximately 600 million Swedish crowns of losses stem from
Sandvik's wind-down in Russia and will impact its operating
result before interest, tax and amortisation (EBITA), the
company said.
($1 = 11.2392 Swedish crowns)
 (Reporting by Marie Mannes in Gdansk, editing by Terje Solsvik)
 ((Marie.mannes@thomsonreuters.com))