“Solid profitability, weaker demand in some customer segments”

October 19, 2018

Stockholm, Sweden, October 19, 2018: Mats Rahmström comments on Atlas Copco’s Q3 results that were released today. “Our profitability is solid and we continued to grow the service business in all our business areas, but compared to recent high levels the demand weakened in some customer segments”.

Mats Rahmström

"There are more uncertainties in the global economy and that has affected some customers’ investment decisions," said Mats Rahmström, CEO and President of the Atlas Copco Group. "As expected, the semiconductor business had a negative order development in the quarter".

Compared to previous year, orders received during the third quarter increased 6% to MSEK 23 440 (22 062), an organic decline of 1%. Revenues increased 13% to MSEK 23 675 (21 033), an organic growth of 6%. The operating profit increased to MSEK 5 263 (5 002). Excluding items affecting comparability, the adjusted operating profit margin was 22.5% (22.2).

"We continue to introduce innovations that help our customers provide even better products and services that increase their productivity. We focus on developing products that save energy and service solutions that are smarter and more digital," said Mats Rahmström.

Examples of innovative products that were launched in the quarter is a high-efficient and energy saving oil-injected screw compressor, and a range of generators that reduce emissions and ensure low energy consumption. A new controller for assembly applications to support Industry 4.0 and fast tool rebalancing was also introduced.

"In the quarter, we announced the acquisition of the cryogenics business of Brooks Automation. Finding and acquiring companies that bring additional innovation power and strengthen our existing business is an important part of our strategy for growth,"said Mats Rahmström.

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Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers through its innovative compressors, vacuum solutions, generators, pumps, 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 2017, Atlas Copco (excluding Epiroc AB) had revenues of BSEK 86 (BEUR 9) and about 34 000 employees.

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