Ronnie Leten comments on Atlas Copco’s Q2 results
Stockholm, Sweden, July 17, 2012: Atlas Copco today reported record revenues and operating profit for the second quarter, supported by growing revenue volumes and a strong service business. Overall demand remained on a healthy level.
Orders received rose to MSEK 23 263, corresponding to a decline of 2% organically. Revenues reached a record of MSEK 23 437, up 9% organically. The operating profit increased 20% to MSEK 5 019, corresponding to a margin of 21.4% (20.9).
“Committed work pays off. Everywhere in the world our people are challenging themselves to provide even better service to customers, while they at the same time are working in a more productive and lean way,” said Ronnie Leten, President and CEO of the Atlas Copco Group. “The strong performance of our service business means we will both sustain and continue to develop customer support and relations.”
The aftermarket, including service and consumables, had strong growth during the quarter. Order intake was good for small and medium-sized equipment but was lower for large compressors and mining equipment compared to the strong previous year.
“The overall demand for Atlas Copco’s products and services is expected to remain at the current high level,” Ronnie Leten said. “Investments in service, improved operational excellence and continuous launches of great new products will continue to give Atlas Copco sustainable profitable development.”
Atlas Copco has recently launched a new controller that can control an entire compressed air network and save 10% energy on average. Other innovations introduced in the quarter include a range of oil-sealed rotary screw vacuum pumps, a new advanced assembly tool for high torque applications, a new drill rig for tunneling applications, new surface drill rigs, and a range of rig-mounted bucket crushers for recycling.
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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 2011, Atlas Copco had 37 500 employees and revenues of BSEK 81 (BEUR 9). Learn more at www.atlascopco.com.