Q3: 2024-10-21 Earnings Summary
Company Participants
Louise Tjeder - Head of IR
Stefan Widing - President and CEO
Cecilia Felton - EVP and CFO
Conference Call Participants
John Kim - Deutsche Bank
Andrew Wilson - J.P. Morgan
Magnus Kruber - Nordea
Klas Bergelind - Citigroup
Daniela Costa - Goldman Sachs
Edward Hussey - UBS
Max Yates - Morgan Stanley
James Moore - Redburn Atlantic
Operator
Ladies and gentlemen, welcome to the Sandvik Interim Report Q3 2024 Conference Call. I would like to remind you that all participants will be listen-only mode, and the conference is being recorded. The presentation will be followed by a Q&A session. [Operator Instructions] [Operator Instructions] The conference must not be recorded for publication or broadcast. We'll now be joined into the conference room.
Louise Tjeder
Hi everyone. A warm welcome to Sandvik's presentation of the third quarter results 2024. My name is Louise Tjeder, Head of Investor Relations. Beside me, I have our CEO, Stefan Widing; and CFO, Cecilia Felton. We will as we usually do, start with the presentation. Stefan and Cecilia will take you through the highlights of the third quarter. And after that, we’ll have time for your questions.
So without further ado, over to you Stefan.
Stefan Widing
Thank you, Louise. And also from my side welcome to our third quarter report in 2024. If we summarize the quarter, I think we see a mixed demand environment. And in that context, we delivered a stable top-line this quarter. We see solid momentum in our mining and software businesses, while the cutting tools have been negatively impacted by a weak macro environment. Total order intake is flat year-on-year and organic growth was 2%. Total revenues declined by 4%, of that organic was a negative 1%. And at fixed exchange rate, the organic revenue growth