April 26, 2022
Nacka, Sweden, April 26, 2022: Mats Rahmström, President and CEO of the Atlas Copco Group, comments on the report for Q1 that was released today.
“The demand for the first quarter was better than we expected, and the order intake was on record levels for all business areas,” said Mats Rahmström. “Despite new uncertainties in the world, supply chain constraints, higher costs for components as well as new COVID-19 outbreaks, we delivered a healthy profit.”
The demand for Atlas Copco’s products and services increased considerably compared to the previous year and exceeded the already high level of the fourth quarter last year. Order volumes for the service business continued to grow.
Orders received in the first quarter grew to MSEK 40 379 (30 468), an organic growth of 23%. Despite disruptions in the supply chain, revenues increased 7% organically to MSEK 30 086 (26 021). Operating profit increased 25% to MSEK 6 749 (5 387), corresponding to a margin of 22.4% (20.7). Adjusted operating profit, excluding items affecting comparability, was MSEK 6 525 (5 649), corresponding to a margin of 21.7% (21.7). The return on capital employed was 27% (23).
Looking ahead, in the near-term, although the world’s current economic development makes the outlook uncertain, Atlas Copco expects that the customers’ activity level will remain high, but weaken compared to the very high level in the first quarter.
“We plan for different scenarios, and we continue to focus on delivering value to our customers in form of leading technologies and sustainable innovations,” said Mats Rahmström.
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. In 2021, Atlas Copco had revenues of BSEK111 and at year end about 43 000 employees.