Ronnie Leten comments on Atlas Copco’s Q4 results
January 31, 2012
Stockholm, Sweden, January 31, 2012: Atlas Copco today reported fourth quarter results with continued growth in orders and revenues. Profitability remained on a good level. For the full year 2011, Atlas Copco reached new records for sales and operating profit.
“We have had a solid end to a year that was nothing less than fantastic for Atlas Copco,” said Ronnie Leten, President and CEO of the Atlas Copco Group. “Demand for our products and services was better than expected during the quarter.”
Revenues in the fourth quarter increased 16% organically to BSEK 22.3 and the operating profit was BSEK 4.6 (4.0), corresponding to a margin of 20.6% (20.7). The full-year organic revenue increase was 22% to BSEK 81.2, with a margin of 21.6% (19.9). In the near term, the overall demand for Atlas Copco’s products and services is expected to weaken somewhat from the current high level.
“We have a good starting point but a challenging task ahead; the global outlook is difficult to predict and we will continue seeking long- and short-term growth opportunities,” Leten said. “During the fourth quarter we invested in competence development in all markets, developed our manufacturing capacity in Asia and made acquisitions to extend our presence and product offering.”
Notable events during the quarter include the acquisitions of Houston Service Industries, a U.S. manufacturer of energy-efficient blowers, and Swedish GIA, which broadens the offering of underground transportation and utility equipment. In January, it was announced at the World Economic Forum in Davos, Switzerland, that Atlas Copco has been included on the Global 100 list of the world’s most sustainable companies, ranked as number 10.
“Our goals for Atlas Copco’s sustainable, profitable development, which were introduced a year ago, are yielding results. We were very proud to see our work in this area recognized,” Leten said.
The Board of Directors of Atlas Copco AB proposes a dividend of SEK 5.00 (4.00) per share, corresponding to a total distribution to shareholders of BSEK 6.1.
Press release with the full Q4 report.
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Atlas Copco discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.
Atlas Copco is an industrial group with world-leading positions in compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems. With innovative products and services, Atlas Copco delivers solutions for sustainable productivity. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 170 countries. In 2011, Atlas Copco had 37 500 employees and revenues of BSEK 81 (BEUR 9).