Mats Rahmström comments on Atlas Copco’s Q3 2017
October 18, 2017
Stockholm, Sweden, October 18, 2017: Atlas Copco, a leading provider of sustainable productivity solutions, today reported strong order growth and record profit. In the near term, the overall demand for the Group is expected to remain at current high level.
Orders received in the third quarter grew to MSEK 30 552 (26 038), an organic increase of 17%. Revenues were MSEK 28 499 (25 843), and the adjusted operating profit margin was 21.7% (20.3). The operating profit of MSEK 6 268 (5 074) was Atlas Copco’s highest ever. All five business areas reported increased orders. The strongest order growth was in vacuum equipment, due to robust demand from the semiconductor, scientific and general industries. Orders for mining equipment also grew significantly, mainly driven by expansions of existing mines. “Our innovative products and services that increase productivity for customers were well received and helped ensure we had a strong quarter,” said Mats Rahmström, President and CEO of the Atlas Copco Group. “Our passionate people are focused on making customers successful.” Innovative products launched recently include an energy-efficient adsorption dryer, a turbo pump for coating applications used in the manufacturing of products such as smart phone displays, software that supports error proofing in assembly applications, a new generation Mobile Miner for faster mechanical hard-rock mining, and an extended range of portable generators for more user flexibility. In the quarter, the Group announced the management team and parts of the Board of Directors for Epiroc AB. Epiroc, a fully-owned subsidiary of Atlas Copco with focus on customers in the mining, infrastructure and natural resources industries, is planned to be listed on the stock exchange in 2018. “The ongoing split of the Group is progressing according to plan,” Mats Rahmström said. "Provided shareholders approve the proposal at the Annual General Meeting next year, there will be two innovative companies with strong teams that can focus even more on creating value for customers.” The divestment of the Road Construction Equipment division to Fayat Group was completed on October 4, 2017. The Atlas Copco Group will host the annual Capital Markets Day on November 14, 2017, in Stockholm, Sweden.
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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.