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ENGINEERING

Sandvik welcomes increased profits

Swedish engineering group Sandvik has announced first quarter post-tax profits of 2.7 billion kronor. This was up on results for the first quarter of 2005, when the company presented profits of 1.9 million kronor.

Published: 2 May 2006 15:25 CEST

Reuters reported than analysts had on average expected a profit of 2.4 billion.

Sandvik’s turnover increased by 15 percent, from 14.2 billion kronor to 17.5 billion. Orders were up 23 percent to 21 billion kronor.

The company said its Mining & Construction subsidiary had performed particularly well, with orders up 46 percent. The division had received a number of large orders during the quarter, with a total value of more than 1.6 billion kronor.

Orders for Sandvik Materials Technology was up 12 percent and Sandvik Tooling was up 13 percent.

The company said its order intake rose by 29 percent in Europe, and 10 percent in North America.

“We are continuing to develop our offering with new solutions for increased customer benefit,” said Lars Pettersson, Sandvik’s CEO.

“Combined with a continued global expansion, this increases our competitiveness and ensures growth as well as profitability,” he said.

EMPLOYMENT

Young Euro engineers want work in Germany

German companies made up half of the top-10 most sought after employers for European engineering students in a survey published on Wednesday.

Published: 10 June 2015 15:45 CEST
Young Euro engineers want work in Germany
A Bosch worker at an automated production line. Photo: DPA

Although IBM pipped Siemens out of its 2014 first-place ranking, BMW, Airbus, Bosch and Daimler/Mercedes-Benz loaded the rest of the leaderboard with German quality.

But it wasn't just German companies' reputation for high-quality products that made them leading choices for the future engineers and IT workers.

“Top employers are the ones that have made professional development the top thing on their agendas, and offer a creative and dynamic work environment too,” said Claudi Tattanelli, Global Director of labour market research firm Universum.

That might mean that the likes of Volkswagen, Bayer or BASF have some investing in their workforce to do to move up in the attractiveness stakes, after they placed 23rd, 24th and 26th respectively.

And Germany as a whole has some catching-up to do when it comes to the business side of the equation, where not a single German company was among the top 10 employers picked by undergraduates.

BMW was the top-placed German entrant at 13th, with others such as adidas, Deutsche Bank, Daimler/Mercedes-Benz and Volkswagen peppering the high teens and 20s.

“Business students prefer professional training and development, challenging work and opportunities for international travel/relocation,” Universum said in a press release.

The Universum survey asked 168,000 business and engineering or IT students in the 12 biggest European economies about their preferred companies and workplace environment.

SEE ALSO: Graduates desperate to work for car giants

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