Ronnie Leten comments on Atlas Copco’s Q3 2015
October 20, 2015
Stockholm, Sweden, October 20, 2015: Atlas Copco, a leading provider of sustainable productivity solutions, today reported solid results for the third quarter, including record operating profit and strong cash flow. The service business continued to grow in a mixed business climate. The overall near-term demand for the Group is expected to remain at current level.
Orders received in the third quarter rose to MSEK 24 149 (23 395), with a positive impact from currency. Europe was the region with the highest order increase, 7%, in local currencies, while markets such as China and Brazil were weak. Globally, orders declined 5% organicallywhile revenues were flat.Revenues reached MSEK 25 723 and the operating profit was the highest ever at MSEK 5 313 (4 145), corresponding to a margin of20.7%.
“Sectors such as aerospace and automotive showed good demand for our industrial tools and assembly systems, but the mining and the oil and gas sectors were weak,” said Ronnie Leten, President and CEO of the Atlas Copco Group. “We are staying agile by focusing on efficiency while creating customer value by continuous innovations.”
Innovative products introduced in the quarter include highly productive electric assembly tools, a very reliable low-pressure rock drill for surface drilling applications, and a portable compressor for geothermal drilling applications that offers faster drilling and improved fuel efficiency.
“Listening to customers about their needs is key for providing products and services that boost their productivity,” said Ronnie Leten.
Recent important events include the acquisitions of a U.S. specialty rental dryer business, a Canadian compressor distributor and a U.K. process control expert. Atlas Copco inaugurated a vacuum solutions plant in China, and was ranked the best industrial company on environment by Newsweek magazine.
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Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2014, Atlas Copco had revenues of BSEK 94 (BEUR 10.3) and more than 44 000 employees.