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January 30, 2014
Stockholm, Sweden, January 30, 2014: Atlas Copco, a leading provider of sustainable productivity solutions, today reported healthy operating profit, revenue and orders received for the fourth quarter despite continued weak demand for mining equipment.
Fourth-quarter revenues decreased 4% organically year-on-year to MSEK 21 266 (22 748), the operating profit was MSEK 4 155 (4 699) and the operating margin was 19.5% (20.7).
“A mixed quarter ended the year,” said Ronnie Leten, President and CEO of the Atlas Copco Group. “Demand for our industrial equipment was stable, and the service business continued on a positive path. The mining business continued to be challenging.”
Important events during the quarter include the acquisition of Tentec, which provides bolt-tightening solutions, and Archer Underbalanced Services, a leading provider of down-the-hole hammers and compressed air packages to land-based oil and gas drilling companies.
Atlas Copco launched several new innovative products including small energy-efficient screw compressors, lightweight high torque electric nutrunners that offer customers a compact power tool solution, an underground loader for large operations, and a compact material feeder for non-stop paving.
“We always look for ways to increase customer productivity,” Ronnie Leten said. “While we are keeping a close eye on costs, we continue to invest in state-of-the-art products and service as this will safeguard our future growth.”
Earlier this month, Atlas Copco completed the acquisition of Edwards Group, a global leader in vacuum solutions. “We are pleased to welcome this world-leading company into our Group. Together we will offer comprehensive industrial solutions to manufacturing customers,” said Ronnie Leten.
In the near term, the overall demand for the Group’s products and services is expected to remain at the current level.
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