Sandvik’s orders surge as signs of industrial recovery appear

Sandvik AB’s orders grew the fastest since 2022 as it benefited from improving sentiment among industrial customers and continued demand for mining equipment.

Sandvik’s orders grew 23% on an organic basis — the most in four years — and came in ahead of the average analyst expectation of 14% growth. All four of its units reported double-digit organic order growth, according to a Wednesday statement.

Orders in its mining segment delivered a 78% upside to expectations in the quarter as soaring metal prices boosted demand for the machines and aftermarket services used in mines around the world. The unit was Sandvik’s best performing in 2025.

The machining unit — which provides tools to optimize operations such as turning, milling, and drilling — saw orders jump 28% in the first quarter, with solid demand from the aerospace, defense and medical end markets.

“In North America, and to a certain extent also in Europe, demand in general industry was stronger than expected, with elements of stock-building motivated by scarce supply of tungsten and in anticipation of continued price increases,” the company said, adding that it also saw “early signs” of improved underlying demand.

The beginning of infrastructure recovery was confirmed in the first quarter with “increased dealer activity and solid demand” in those regions, Sandvik added.

(By Chloé Meley)