Stockholm, Sweden, April 25, 2019: Mats Rahmström, President and CEO of the Atlas Copco Group comments on the Q1 results that were released today. “I am pleased to present a strong start of the year with record high order intake”.
The order intake in the quarter was better than expected, mainly due to a strong order intake for large industrial and gas and process compressors, some important orders from the semiconductor and flat panel display industry, and large orders for power equipment from rental customers. Demand in other parts of the Group were more in line with expectations, i.e. flat or somewhat down.
"Our service business continued to grow and ensures that our customers get the most out of their investments," said Mats Rahmström.
"Our business is well-diversified, both geographically and industry wise, and that makes us agile and resilient."
Orders received in the first quarter grew to MSEK 26 812 (24 829), an organic growth of 1%. Revenues were MSEK 24 181 (21 906), an organic growth of 4%. Excluding items affecting comparability, the adjusted operating profit increased 10% to MSEK 5 262 (4 779), corresponding to a margin of 21.8% (21.8). The return on capital employed was 33% (29).
Looking ahead, in the near-term, the Group expects demand for its products and services to stay at current level.
"I am committed to making sure that we continue to develop world leading products and services that help our customers succeed in spite of challenges in an ever-changing world," said Mats Rahmström. "Our decentralized business model gives us the agility and speed needed. I am very proud of our employees and their dedication to always finding a better way and increasing the value that they bring to our customers."
Atlas Copco Group Great ideas accelerate innovation. At Atlas Copco we have been turning industrial ideas into business-critical benefits since 1873. By listening to our customers and knowing their needs, we deliver value and innovate with the future in mind.
Atlas Copco is based in Stockholm, Sweden with customers in more than 180 countries and about 37 000 employees. Revenues of BSEK 95/9 BEUR in 2018.