Q4 2019 Sandvik AB Earnings Call Transcript
Greetings, everyone, and welcome to the presentation of the Fourth Quarter Results of Sandvik. We will spend about the next hour together. And as we normally do, we will look through the presentation and followed by a Q&A.
And with us today, we have, of course, our CEO, Björn Rosengren; and our CFO, Tomas Eliasson. And without further ado, I will let Björn and Thomas take over from here.
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Thank you, Ann-Sofie. Hello, everybody. Good morning. So starting up with 2019, another remarkable year when it comes to earnings and cash flow. And this is despite that we have big headwind when it comes to our so-called short-cycle business. And I think it's building on a strong mitigation package, which was presented during Q3.
And if we look at the earnings for the year, 18.6%, and a cash flow of SEK 18 billion, which is of course both of them very high numbers. But Tomas, there is one disappointment and
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