Atlas Copco: Second quarter report 2006 (unaudited)
July 17, 2006
Record performance - strategic acquisitions
The divestment process of the construction equipment rental business continues and is expected to be finalized in the third quarter. – This business is reported as discontinued operations. Strong growth in all regions and most customer segments.All business areas improved sales, profits and margins. Agreements to acquire two compressor businesses with total turnover above BSEK 2.2. Orders received for continuing operations up 20%, whereof 14% in volume.Revenues for continuing operations reached MSEK 12 444 (10 539), up 12% in volume. – MSEK 15 408 (13 062) including Rental Service. Operating profit for continuing operations was MSEK 2 337 (1 667), corresponding to a margin of 18.8% (15.8). – MSEK 3 163 (2 241) including Rental Service, a margin of 20.5% (17.2). Profit before tax for continuing operations increased 38% to MSEK 2 433 (1 766). – MSEK 2 926 (2 170) including Rental Service.Profit for the period was MSEK 1 963 (1 492).Basic earnings per share were SEK 3.11 (2.36). Operating cash flow totaled MSEK 799 (955).Near-term demand outlook The demand for Atlas Copco's products and services, from most customer segments such as mining, infrastructure and other non-residential construction, the manufacturing and process industries, is expected to remain at the current high level.
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