Ronnie Leten comments on Atlas Copco’s Q1 results
Stockholm, Sweden, April 27, 2012: Atlas Copco today reported continued strong order growth for the first quarter and said near-term demand is expected to remain at the current high level.
Orders received increased 10% organically to MSEK 24 827 while revenues grew 17% organically to MSEK 22 254. The operating profit was MSEK 4 604 (3 987), corresponding to a margin of 20.7% (21.9).
“We achieved good growth despite the mixed market conditions and are very pleased with the development and value creation in the Group,” said Ronnie Leten, President and CEO of the Group. “We strengthened our presence further during the quarter and will continue our efforts to increase market penetration.”
Atlas Copco has recently established new customer centers in Mozambique and Senegal, meaning the Group now has own operations in 89 countries. During the first quarter, six acquisitions were completed. Other notable events include one of the company’s largest-ever orders for mining equipment in South Africa.
“Atlas Copco has had significant success in the mining industry during the quarter. We are also very proud of the achievements in the motor vehicle industry, where order intake exceeded our expectations,” Ronnie Leten said.
In the near term, the overall demand for Atlas Copco’s products and services is expected to remain at the current high level.
“We have done a lot to create our own opportunities for growth,” Ronnie Leten said. “The recent acquisitions have broadened our offering and in the past year alone, we introduced hundreds of new products. This is improving customer efficiency, driving demand and supporting Atlas Copco’s continued strong development.”
Press release with the full quarterly report.
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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 2011, Atlas Copco had 37 500 employees and revenues of BSEK 81 (BEUR 9).