Technology that transforms the future
Mats Rahmström President and CEO of Atlas Copco Group
This year was a memorable year, and we reached several milestones. We delivered record orders, revenues and operating profit and we had the unique opportunity to celebrate our 150th anniversary.
During a century and a half, we have delivered breakthrough innovations and technologies to customers in many different industries. We have contributed to the development of many aspects of modern society and have had an impact on people’s professional and private lives. We used this opportunity not only to look back, but also to focus on how we are shaping the future.
At the core of our value creation is technology and people who find opportunities in the challenges our customers and society are facing. In 2023, we invested 4% of our total revenues, or MSEK 6 166, in R&D. The last couple of years we have put increased efforts and funding into developing efficient technologies and solutions that enable the transformation to a low-carbon society. There is no doubt that climate change is the biggest challenge of our time and we have made a commitment to be part of the solution by reducing the environmental impact of our operations and products. At the same time, creating platforms for growth in new segments connected to society’s need for new sources of energy, new modes of transportation and automation, could be our biggest opportunity ever. If we are to succeed in limiting global warming and staying within the planetary boundaries, big changes are required. I’m very proud of the role Atlas Copco Group plays in this transition.
In November 2023, I announced that I’m stepping down from the role as CEO. I have worked 35 years in the Group and have had the privilege to lead this organization for seven. As CEO, my focus has always been to build a stronger and better company and I’m very happy with the growth we have achieved and the initiatives launched during my tenure. I will carry nothing but extremely fond memories of the people, passion, and continuous focus on always finding new and better ways that I have experienced here. The Group is all about focusing on creating value for our customers as well as other stakeholders and living our values. That is what has made this Group such an amazing company and that is what will continue to allow for further growth and development.
Mats Rahmström
President and CEO of Atlas Copco Group
