An eventful quarter and a year with all-time-high revenues

Q4 2022 highlights

Organic order intake growth for the rolling 12-months period was 19%. Order intake in the quarter increased by 37% to SEK 5,825 million (4,262), with organic growth of 17%, driven by major orders in the Oil and Gas and Medical segments. Organic order intake excl. major orders was -7% in the quarter.

Revenues increased by 31% to SEK 5,159 million (3,935), with organic growth of 14%, driven by growth in all three divisions, and the Oil and Gas segment in particular.

Adjusted operating profit (EBIT), amounted to SEK 555 million (353), corresponding to a margin of 10.8% (9.0), supported by higher volumes, a favorable product mix and strong execution of price increases which offset cost inflation.

Operating profit (EBIT) amounted to SEK 407 million (392), corresponding to a margin of 7.9% (10.0), and included metal price effects of SEK -149 million (129) and items affecting comparability of SEK 0 million (-89).

Adjusted earnings per share was SEK 2.11 (1.59). Earnings per share was SEK 1.65 (1.71).

Cash flow from operating activities increased to SEK 1,107 million (940).

Free operating cash flow increased to SEK 801 million (684).

The Board of Directors proposes a dividend of SEK 1.40. The proposal corresponds to 38% of profit for the period (adjusted for metal price effects).

Acquired Endosmart, a nitinol expert for medical devices.

Commitment to set targets in line with the Science Based Targets initiative.

CEO’s comment

As we conclude 2022, I am proud of what we have achieved as an organization. The year has been full of both challenges and opportunities, and we have written a new page in our history with the listing on the Nasdaq Stockholm Stock Exchange. Our new life as a listed company is truly exciting. We are sharing our story as Alleima, a world leading advanced materials company and although we have 160 years of experience behind us, our journey has just begun.

We finished the year strongly and noted several major orders, of which three for Oil and Gas products and one in the Medical segment. The subdued demand we noted for low-refined products in the Industrial and Consumer segments in the third quarter, persisted in the fourth quarter, mainly in Europe and North America, while demand was flat on a sequential basis. Customer activity in our other segments remained high in general, and underlying demand remained healthy. In total, this translates to a year on year organic order intake growth for the quarter of 17%, and -7% excluding major orders.

Revenues in the fourth quarter increased organically by 14%. We improved the adjusted EBIT margin to 10.8%, compared to 9.0% for the corresponding quarter last year and we successfully offset significant cost inflation through strong price execution. Free operating cash flow improved to SEK 801 million but decreased for the full year compared with 2021. This is normal in our business when we have an environment characterized by high raw material prices and strong topline growth. Our performance during the year is well in line with our financial targets, with organic revenue growth of 13%, and an adjusted EBIT margin of 9.1%. We have a solid financial position and we are almost debt free.

We have ambitious sustainability targets, and we are aiming for industry leadership both through our operations and our offering, not least by growing our portfolio of products to enable the green transition. During the quarter we received a breakthrough order for OCTG (Oil Country Tubular Goods) tubes for use in carbon capture and storage. This is a great example of how our existing products also fit in a more sustainable world. Although we already have one of the lowest CO2 footprints in the industry, our ambition is to halve our emissions by 2030, and I am proud that we have committed to the Science Based Targets initiative (SBTi).

One of our focus areas is the profitable Medical segment. During the quarter, we received our very first major order for ultra-fine medical wire, the result of the commercialization of a new product used for remote monitoring of patients. We also acquired Endosmart, a nitinol expert for medical devices. This further expands our capabilities and increases our current addressable market.

However, we cannot escape the challenges of the current macroeconomic environment: the war in Ukraine, inflationary pressures, and energy supply restraints. This means that we will continue to work proactively to mitigate increased costs. We have proven that we can adapt quickly to changing market conditions and we are ready to take swift actions should market conditions deteriorate.

Despite these challenges, several long-term trends work in our favor, and we will continue our focus on profitable and less cyclical segments to reduce earnings volatility. Our view of an underinvested energy sector remains intact and the prospect list for Oil & Gas projects remains solid, at the same time as we are seeing an increasing number of prospects within renewable energy. We have a strong backlog that improved significantly in the quarter and gives us confidence going into 2023.

I would like to sincerely thank all our employees for their dedicated work during the year and to thank all our customers. I would also like to welcome our new shareholders. I am looking forward to a new year of great opportunities together.

Göran Björkman, President and CEO

Conference call and webcast 13:00 CEST

A webcast and conference call will be hosted on January 24, 2023 at 13:00 pm CEST. More information and a presentation will be available at

Dial-in details for the conference call

Sweden: +46 (0) 8 5051 0031

UK: +44 (0) 207 107 06 13

US: +1 (1) 631 570 56 13

Link to webcast


Sandviken, January 24, 2023

Alleima AB (publ)

Contact details

Emelie Alm, Head of Investor Relations
Phone: +46 (0) 79 060 87 17

Yvonne Edenholm, Press and Media Relations Manager
Phone: +46 (0) 72 145 23 42

About Alleima
Alleima AB, formerly Sandvik Materials Technology, is a global manufacturer of high value-added products in advanced stainless steels and special alloys as well as solutions for industrial heating. Based on long-term customer partnerships and leading materials technology, we develop products for the most demanding applications and industries. Our offering includes products like seamless steel tubes for the energy, chemical and aerospace industry, precision strip steel for white goods compressor, air conditioners and knife applications, based on more than 900 active alloy recipes. It also includes ultra-fine wires for medical and micro-electronic devices, industrial electric heating technology and coated strip steel for fuel cell technology for cars, trucks, and hydrogen production. Our fully integrated value chain, from R&D to end-product, ensures industry-leading technology, quality, sustainability, and circularity. Alleima, with headquarter in Sandviken, Sweden and revenues of SEK 18.4 billion in 2022, has approximately 6,000 employees and customers in approximately 90 countries. Alleima was listed on Nasdaq Stockholm on August 31, 2022 under the ticker ‘ALLEI’. Learn more at

This information is information that Alleima AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 11:30 AM CET on January 24, 2023.