The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst
: I've just got 2. I just want to try and clear up a little bit on the savings and the -- in 2022 and then the costs returning. I just -- obviously you talked
about some of the temporary savings basically sort of still remaining. Is that, that they're expected to remain, or should we expect those to continue
to come back into the business? I guess I'm just trying to understand sort of the cost savings versus costs coming back has been quite a big swing
factor as you've gone through this year. And I'm just trying to get a -- even a very high-level number for '22 versus '21.
Stefan Widing - Sandvik AB (publ) - President, CEO, Director and President of Sandvik Manufacturing & Machining Solutions
I think, I mean, what we -- as Cecilia said, we will take away this notion now of that being a temporary savings bridge. And it's a little bit a mind
setting. As long as we highlight the temporary saving, it's sort of okay that it comes back. So now we shift focus and say this is the level we are
running the business as. We understand that there are still less travel than the normal situation, as an example, but it's more going to be have to
be motivated by the normal cost increase means, so to say. So it's more a change of perspective. So yes, more will come back, but we don't want
or expect everything to come back. And I think this is a better way of looking at it now going forward, that, okay, let's see what additional cost
increases we need. And the reason we are not sort of giving a number is because we don't really know either. I mean we have ambitions and targets
how much we will reduce travel or -- and so on, but at the end of the day, we don't know because at the end of the day, first, we're going to take
care of the business, so to say. And we will do our best to keep the remaining increase away as much as possible.
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