Ronnie Leten comments on Atlas Copco’s Q4 results
Stockholm, Sweden, January 29, 2015: Atlas Copco, a leading provider of sustainable productivity solutions, today reported record revenue and operating cash flow for the fourth quarter and proposed an extra capital distribution. The overall near-term demand for the Group is expected to increase somewhat.
Fourth-quarter orders rose 24% year-on-year to MSEK 24 375 (19 714), supported by acquisitions and a strong service business. The organic increase was 2%. Revenues in the quarter reached a record of MSEK 25 360 (21 266). The adjusted operating profit was MSEK 4 886 (4 098), corresponding to a margin of 19.3% (19.3). The cash flow was the highest ever at MSEK 5 083 (2 563).
“The year ended with very strong cash flow and with a good working capital development,” said Ronnie Leten, President and CEO of the Atlas Copco Group. “Demand from the manufacturing industry was stable for equipment and strong for service. The service business for mining continued to grow.”
Events during the quarter included the acquisition of Titan Technologies International Inc., a U.S.-based provider of powerful bolting tools. Also, Atlas Copco was again included in the annual United Nations Global Compact 100 stock index.
Atlas Copco launched several new innovative products including a range of oil-free scroll compressors, a complete range of quality assurance equipment for the motor vehicle and general industries, and a range of medium sized face-drilling rigs for underground mining and tunneling.
“Boosting customer productivity is our number one priority,” Ronnie Leten said. “We are continuously improving our efficiency while investing in top products and service as that will ensure our future growth.”
The Board proposes a distribution to shareholders of SEK 12.00 per share through:
- An annual dividend for 2014 of SEK 6.00 (5.50) per share, which will be paid in two installments.
- An extra distribution of SEK 6.00 per share through mandatory redemption of shares.
For more information please contact:
Mattias Olsson, Vice President Investor Relations
+46 8 743 8295 or +46 72 729 8295
Ola Kinnander, Media Relations Manager
+46 8 743 8060 or +46 70 347 2455
Atlas Copco discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.
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 2014, Atlas Copco had revenues of BSEK 94 (BEUR 10.3) and more than 44 000 employees. Learn more at www.atlascopco.com.