Atlas Copco Interim report at March 31, 2005 (unaudited)

April 27, 2005

Strong growth and record profit margins

Orders received up 17%, corresponding to volume growth of 8%.Revenues reached MSEK 11 168 (9 595), up 10% in volume.Operating profit margin increased to 15.6% (13.8).
Expected capital gain from the divestment of the professional electric tools
business is not included.Profit after financial items increased 35% to MSEK 1 665 (1 231).Net profit was MSEK 1 167 (922) and earnings per share SEK 5.55 (4.38).Operating cash flow totaled MSEK 685 (862). Net cash flow, after divestments
and acquisitions, amounted to MSEK 4 535.Near-term demand outlookThe demand for Atlas Copco’s products and services is expected to remain at current
high level.
Demand from manufacturing and process industries is expected to stay favorable in most
markets. Activity in the construction industry is expected to continue to increase
somewhat in North America and in most developing countries. Demand from the mining
industry is expected to remain strong.