Ronnie Leten comments on Atlas Copco’s Q2 results
Stockholm, Sweden, July 16, 2014: Atlas Copco, a leading supplier of sustainable productivity solutions, today reported an increased order intake for the second quarter.
Year-on-year, orders received in the second quarter increased 11% to MSEK 23 450, supported by an improved demand from the manufacturing industry and acquired businesses. The organic order growth was 1%. Revenues reached MSEK 23 348 and the operating profit was MSEK 4 339 (4 533), corresponding to a margin of 18.6% (20.8).
“It is encouraging to see a positive demand development from the manufacturing industry, and that the order intake for mining equipment has stabilized,” said Ronnie Leten, President and CEO of the Atlas Copco Group. “The margin improved compared to the first quarter, partly thanks to further efficiency measures.”
During the second quarter a new regional distribution center was opened in Shanghai, China, which will be the hub for logistics activities in the Asian region.
“Our service business continued to grow and more customers in more locations now benefit from our broad service offering,” said Ronnie Leten.
Also, in May Atlas Copco acquired compressor business in the U.S. with about 120 employees.
In June, Atlas Copco ranked number seven globally in the Newsweek Green Rankings, one of the world’s foremost ranking on corporate sustainability.
The overall demand for the Group’s equipment and service is expected to increase somewhat in the near term.
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Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and service focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2013, Atlas Copco had revenues of BSEK 84 (BEUR 9.7) and more than 40 000 employees. Learn more at www.atlascopco.com.