Ronnie Leten comments on Atlas Copco’s Q1 results
Stockholm, Sweden, April 29, 2013: Atlas Copco today reported a stable order level compared with the previous three months, and said near-term demand is expected to remain at the current level.
Orders received decreased 11% organically from a year earlier to MSEK 21 008 while revenues were down 5% organically to MSEK 20 227. The operating profit was MSEK 4 156 (4 614), corresponding to a margin of 20.5% (20.7).
“Demand for our equipment weakened somewhat as the mining sector and much of the European region continued to struggle,” said Ronnie Leten, President and CEO of the Atlas Copco Group. “The industrial segments performed well, notably in North America, as did our service business overall.”
During the first quarter, Atlas Copco completed two acquisitions, one in China and one in France, and announced an agreement to acquire a tools business in the U.S. Atlas Copco also inaugurated new manufacturing sites in China and India. Other notable events include that the company celebrated 140 years of sustainable productivity since the company’s foundation in 1873.
“We continue to strengthen our presence in all regions and broadening our product offering,” Ronnie Leten said. “New equipment includes a break-through compressor that cuts energy consumption in up to half and will set a new standard for years to come, as well as a new exploration drilling rig designed for high productivity.”
In the near term, the overall demand for Atlas Copco’s products and services is expected to remain at the current level.
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Atlas Copco is an industrial group with world-leading positions in compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems. With innovative products and services, Atlas Copco delivers solutions for sustainable productivity. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 170 countries. In 2012, Atlas Copco had 39 800 employees and revenues of BSEK 90.5 (BEUR 10.5). Learn more at www.atlascopco.com.