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July 16, 2007
Stockholm, Sweden, July 16, 2007: Atlas Copco today reported its best quarter ever, with continued double-digit growth in all regions and record profit.
“Our record performance manifests the strength of our three business areas,”says Gunnar Brock, President and CEO. “They all have very solid market positions and highly profitable growth strategies in place."
Atlas Copco has now achieved 21 consecutive quarters with organic growth. "We expect that demand from most customer segments will remain at the current high level in the near term.”
Atlas Copco’s revenues increased 28% to MSEK 15 985, corresponding to an organic growth of 20%. The operating profit was up 30% to MSEK 3 037, corresponding to a margin of 19.0% (18.8). “For the first time ever, our operating profit has exceeded 3 billion SEK.”
During the quarter, Atlas Copco finalized the acquisitions of Dynapac, a leading supplier of compaction and paving equipment for road development, and ABAC, a manufacturer of piston compressors for the small and medium sized industrial market, and for the automotive aftermarket.
Whilst selective acquisitions are an integral part of the Group’s growth strategy, the main focus is on organic growth. New products and solutions are continuously introduced to the market. Recently, Atlas Copco launched a new range of oil-free compressors for outdoor usage, the largest volume-produced hydraulic breaker in the world and a new generation of electric nutrunners, with higher speed and torque than the previous generation. “These, and all other product introductions we make, are a result of dedicated investments to increase our customers’ productivity.”
In order to meet anticipated future demand growth, and to improve efficiency, Atlas Copco has decided to invest in increased production capacity both in the Compressor Technique and Construction and Mining Technique business areas.For further information please contact:Daniel Frykholm, Media Relations Manager
+46 (0)8 743 8060 or +46 (0)708 65 8060