Atlas Copco: Ronnie Leten Comments on Atlas Copco’s Q3 Results
STOCKHOLM -- October 25, 2013
Atlas Copco (STO:ATCOA)(STO:ATCOB), a leading supplier of industrial
sustainable productivity solutions, today reported healthy profitability
despite lower revenues for mining equipment. Near-term demand is expected to
remain at the current level.
Year-on-year, orders received in the third quarter decreased 6% organically to
MSEK 19433 while revenues were down 4% organically to MSEK 20 552. The
operating profit was mainly affected by lower mining equipment volumes and
currency changes, and reached MSEK 4 212 (4 925), corresponding to a margin of
“Demand for industrial equipment was healthy, and the service business
continued to develop well,” said Ronnie Leten, President and CEO of the Atlas
Copco Group. “Mining equipment demand remained weak.”
Atlas Copco has decided to expand into process vacuum solutions by acquiring
Edwards Group Ltd., a U.K.-based market and technology leader. In addition,
Atlas Copco acquired Pneumatic Holdings Inc., a U.S. provider of pneumatic
light construction tools; Dost Kompresör, a distributor and service provider
of compressors in Turkey; and Synatec, a Germany-based company which provides
quality improvement solutions mainly to the automotive industry.
In the quarter, Johan Halling was appointed as President of the Mining and
Rock Excavation Technique business area.
Atlas Copco was once again included in business magazine Forbes’s list of the
world’s 100 most innovative companies. “We are strongly focused on boosting
customer productivity by being on the forefront of product innovation and
service,” said Ronnie Leten. “It’s more important than ever.”
In the near term, the overall demand for Atlas Copco’s products and services
is expected to remain at the current level.
Atlas Copco discloses the information provided herein pursuant to the
Securities Markets Act and/or the Financial Instruments Trading Act.
Atlas Copco is an industrial group with world-leading positions in
compressors, expanders and air treatment systems, construction and mining
equipment, power tools and assembly systems. With innovative products and
services, Atlas Copco delivers solutions for sustainable productivity. The
company was founded in 1873, is based in Stockholm, Sweden, and has a global
reach spanning more than 170 countries. In 2012, Atlas Copco had 39
800employees and revenues of BSEK90.5 (BEUR 10.5). Learn more at
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Ola Kinnander, Media Relations Manager
+46 (0)8743 8060 / +46 (0)70 347 2455
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