Swedish industrial company Atlas Copco Group has today released its second quarter (Q2) results.
The order volumes for compressors increased in the quarter while orders for vacuum equipment decreased.
The industrial assembly tools and solutions business saw a somewhat lower equipment demand from the motor vehicle industry and for power equipment, such as generators pumps, the order volumes increased strongly.
Orders received in Q2 grew to SEK 26.6bn ($3.1bn), an organic growth of 2%. Revenues were SEK 25.6bn ($3bn), up 1% organically.
Excluding items affecting comparability, the adjusted operating profit increased 2% to SEK 5.6bn, corresponding to a margin of 22%. The return on capital employed increased further to 33%.
Commenting on the results, President and CEO Mats Rahmström said, “We continue to grow and deliver high profitability despite the uncertainties in the global economy.”
“The demand for our products remained high and the service business continued to grow in all business areas.”
“Acquiring the right companies as well as investing in research and development has played an important part in making Atlas Copco what it is today.”
“We know that diversity makes us stronger and when we bring new companies in we want them to keep their unique traits and what made them successful to begin with.”
“I am happy to welcome these new members to the group and look forward to leveraging their ideas, new technologies and service opportunities, with the existing strengths of Atlas Copco. That combination will bring true value to our customers.”
Looking ahead, Atlas Copco said in the near-term, the demand for its products and services is expected to be somewhat lower than the level in the second quarter.