Ronnie Leten comments on Atlas Copco’s Q1 2017
Stockholm, Sweden, April 26, 2017: Atlas Copco, a leading provider of sustainable productivity solutions, today reported a strong order increase in all business areas, supported by a healthy business climate and new innovative products and services. In the near term, the overall demand for the Group is expected to increase somewhat.
Orders received in the first quarter grew to MSEK 31 710 (23 950), an organic growth of 18% -- the biggest jump since the second quarter 2011. Revenues were MSEK 28 027 (22 453), and the operating profit margin was 20.4% (18.6).
“We see a positive trend in all sectors of our business,” said Ronnie Leten, President and CEO of the Atlas Copco Group. “This trend is supported by an improved business climate as well as our innovative products and services that boost productivity for our customers.”
Innovative products launched in the quarter include performance-enhancing oil-injected screw compressors, highly efficient vacuum pumps for laboratories and research facilities, a mechatronic wrench for assembly applications that offers error proofing, a surface drilling rig for hard and soft rock conditions, and lighter and more energy-efficient electric dewatering pumps.
Important announcements in the quarter included that Mats Rahmström will take over as President and CEO from April 27, 2017. Henrik Elmin will succeed Mats Rahmström as President of the Industrial Technique business area.
Further, the Board of Directors initiated work to propose to the Annual General Meeting 2018 to decide on a split of the Group into two listed companies. In addition, Vacuum Technique debuted at the start of the year as a separate business area.
I am happy to see that our vacuum business is doing well, and that the mining sector is recovering after several difficult years Ronnie Leten said. “As I now get ready to hand over the leadership of this fantastic company to Mats Rahmström, I want to thank all customers, shareholders, colleagues and other stakeholders for supporting Atlas Copco during my eight years as President and CEO.
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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 2016, Atlas Copco had revenues of BSEK 101 (BEUR 11) and about 45 000 employees.