Ronnie Leten comments on Atlas Copco’s Q2 2016
Stockholm, Sweden, July 15, 2016: Atlas Copco, a leading provider of sustainable productivity solutions, today reported stable order intake supported by a solid industrial business while demand for mining and construction weakened. The overall near-term demand for the Group is expected to remain at current level.
Orders received in the second quarter were MSEK 25 934 (26 775), negatively affected by currency. Demand was solid for industrial compressors and tools. The relatively low activity in the construction business and recent closure and downsizing of mines impacted the equipment and service business. Revenues were unchanged organically at MSEK 25 438, and the operating profit reached MSEK 4 755, corresponding to a margin of 18.8% (19.4).
“Bright spots in the quarter include Asia, especially India, where all business areas grew,” said Ronnie Leten, President and CEO of the Atlas Copco Group.
Innovative products launched in the quarter include oil-free centrifugal compressors with remote monitoring capabilities, an electric tightening tool for enhanced productivity and ergonomics, a battery-driven underground loader with zero emissions, and user-friendly portable generators.
“Continuously improving customers’ productivity through innovative products and services is what drives us,” Ronnie Leten said.
Atlas Copco has made several acquisitions recently. The Group acquired Kohler Druckluft, a compressor distributor in central Europe, as well as Bondtech, a Swedish supplier of dispensing equipment for adhesives and sealants. Atlas Copco also acquired Roxel Rental, a supplier of temporary air solutions for the Norwegian offshore industry, and agreed to acquire Schneider Druckluft, a German designer and producer of professional compressed air solutions, as well as CSK, a South Korean supplier of high-tech abatement solutions. Also, the acquisition of the Leybold vacuum business, announced in November 2015, has received full regulatory approvals and is expected to be completed on August 31, 2016.
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
This information is information that Atlas Copco AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact persons set out above, at 12.00 CEST on July 15, 2016.
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 services 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 2015, Atlas Copco had revenues of BSEK 102 (BEUR 11) and more than 43 000 employees. Learn more at www.atlascopcogroup.com.