Interim report at March 31, 2004 (unaudited)
Interim report at March 31, 2004 (unaudited) Robust order and profit growth · Order volumes up 11%, 8% negative currency translation effect. · Revenues reached MSEK 10 858 (10 400), up 9% in volume. · Operating profit margin increased to 12.1% (10.3). · Profit after financial items increased to MSEK 1 211 (956). · Net profit increased to MSEK 819 (636), and earnings per share was SEK 3.91 (3.03). · Operating cash flow totaled MSEK 837 (1 191). · Agreement to acquire Ingersoll-Rand Drilling Solutions. Note: All comparative figures are for the first quarter of 2003, unless otherwise stated. January - March Change MSEK 2004 2003 % Orders received 11 577 10 903 +6 Revenues 10 858 10 400 +4 Operating profit 1 312 1 072 +22 - as a percentage of revenues 12.1 10.3 Profit after financial items 1 211 956 +27 - as a percentage of revenues 11.2 9.2 Net profit 819 636 +29 Earnings per share, SEK 3.91 3.03 +29 Items affecting comparability Restructuring costs -14 -12 Equity capital per share, SEK 105 99 Return on capital employed (12 18 13* month value), % * Excluding goodwill impairment charge. Near-term demand outlook The positive demand trend for Atlas Copco's products and services is expected to continue. The manufacturing and process industries are expected to continue to increase their investments and demand more aftermarket products and services. It is foreseen that the recent general improvement in demand for construction equipment will continue, even though the activity level in the important non- residential building sector in the United States is expected to remain largely flat. Demand from the mining industry is expected to remain high. For further information Atlas Copco AB (publ) SE-105 23 Stockholm, Sweden Phone: +46-8-743 8000, Fax: +46-8-644 9045 Internet: www.atlascopco-group.com Corp. id. no: 556014-2720 Analysts Mattias Olsson, Investor Relations Manager Phone: +46 8 743 8291, Mobile: +46 70 518 8291 ir@se.atlascopco.com Media Annika Berglund, Senior Vice President Group Communications Phone: +46 8 743 8070, Mobile: +46 70 322 8070 Conference call and presentation material A conference call to discuss the results will be held at 3:00 PM CET / 9:00 AM EST, on April 27, 2004. The dial-in number is +44 (0)207 984 7582. To help ensure that the conference call begins in a timely manner, please dial in 5-10 minutes prior to the scheduled start time. The conference call will be broadcasted live via the Internet. Please see the Investor Relations section of our website for link, presentation material, and further details. www.atlascopco-group.com A recording of the conference call will be available for 2 days on +44 (0) 207 784 1024 with access code 748 373#. Interim report at June 30, 2004 The second quarter report will be published on July 16, 2004. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/04/27/20040427BIT20250/wkr0002.pdf The full report http://www.waymaker.net/bitonline/2004/04/27/20040427BIT20250/wkr0004.doc The full report