Mats Rahmström comments on Atlas Copco’s Q2 2017
Stockholm, Sweden, July 17, 2017: Atlas Copco, a leading provider of sustainable productivity solutions, today reported strong demand and record revenues and operating profit. In the near term, the overall demand for the Group is expected to remain at current high level.
Orders received in the second quarter grew to MSEK 30 797 (25 207), an organic increase of 11%. Revenues were MSEK 29 030 (24 565), and the adjusted operating profit margin was 21.5% (19.6). Growth was especially strong in Asia where all the business areas grew significantly. Among segments, the semiconductor industry continued to show robust demand for vacuum solutions, and orders for mining equipment rose significantly from a year earlier due to expansions of existing mines as well as investments to replace aging equipment.
“We had a strong quarter thanks to our competent people, innovative products and services, and favorable business climate in most regions,” said Mats Rahmström, President and CEO of the Atlas Copco Group. “We offer what customers need to be productive and energy efficient - by using our solutions they buy their own success.”
Innovative products launched in the quarter include a new range of energy-efficient dryers with low noise level, a cost-efficient abatement system, a small and flexible system for tightening applications, a powerful drill bit range for increased productivity in mining and rock excavation, and LED-powered light towers with high performance and long lifetime.
Mats Rahmström began his new role on April 27, becoming Atlas Copco’s 12th President and CEO since its foundation in 1873.
“I am proud to get the opportunity to lead this fantastic company,” Mats Rahmström said. “I believe in building passionate teams that develop innovative solutions and constantly challenge themselves so that we create value for our customers.”
Other important events or announcements in the quarter included:
- Epiroc AB will be the name of the company to be dividended out in 2018; focus is on customers in the mining, infrastructure and natural resources industries
- The Construction Technique business area has changed name to Power Technique to better reflect the current products and customer segments.
- Vagner Rego was appointed President Compressor Technique, effective August 1, 2017.
- Cecilia Sandberg was appointed Senior Vice President Human Resources, effective October 1, 2017.
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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.