Regulatory News:
Atlas Copco (STO:ATCOA) (STO:ATCOB), a leading provider of sustainable
productivity solutions, today reported solid results for the third
quarter, including record operating profit and strong cash flow. The
service business continued to grow in a mixed business climate. The
overall near-term demand for the Group is expected to remain at current
level.
Orders received in the third quarter rose to MSEK 24 149 (23 395), with
a positive impact from currency. Europe was the region with the highest
order increase, 7%, in local currencies, while markets such as China and
Brazil were weak. Globally, orders declined 5% organically while
revenues were flat. Revenues reached MSEK 25 723 and the operating
profit was the highest ever at MSEK 5 313 (4 145), corresponding to a
margin of 20.7%.
“Sectors such as aerospace and automotive showed good demand for our
industrial tools and assembly systems, but the mining and the oil and
gas sectors were weak,” said Ronnie Leten, President and CEO of the
Atlas Copco Group. “We are staying agile by focusing on efficiency while
creating customer value by continuous innovations.”
Innovative products introduced in the quarter include highly productive
electric assembly tools, a very reliable low-pressure rock drill for
surface drilling applications, and a portable compressor for geothermal
drilling applications that offers faster drilling and improved fuel
efficiency.
“Listening to customers about their needs is key for providing products
and services that boost their productivity,” said Ronnie Leten.
Recent important events include the acquisitions of a U.S. specialty
rental dryer business, a Canadian compressor distributor and a U.K.
process control expert. Atlas Copco inaugurated a vacuum solutions plant
in China, and was ranked the best industrial company on environment by
Newsweek magazine.
Atlas Copco discloses the information provided herein pursuant to the
Securities Markets Act and/or the Financial Instruments Trading Act.
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
2014, Atlas Copco had revenues of BSEK 94 (BEUR 10.3) and more than 44
000 employees. Learn more at www.atlascopco.com.
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Copyright Business Wire 2015
Source: Business Wire
(October 20, 2015 - 6:14 AM EDT)
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