Atlas Copco reports strong close to Q4 of 2017

Atlas Copco

Atlas Copco, has issued a press statement late last week on a solid order intake growth and operating profit for the closing quarter of 2017. In the near term, the overall demand for the group is expected to remain at current high level.

“Our winning teams ensured we had a strong end to a record year,” said Mats Rahmström, president and CEO of the Atlas Copco Group. “We are happy to see that our focus on creating value for customers is successful.”

He mentioned that orders received in the fourth quarter of 2017 organically grew to 14 per cent and the operating profit margin was 20.2 per cent (6.23 billion Swedish crowns [A$980 million]). Orders received grew for all five business areas and in all major geographic regions. He also mentioned that Vacuum Technique posted the biggest order intake growth, 29 per cent, amid strong demand from all customer segments, such as the semiconductor and manufacturing industries and laboratories.

Rahmström said that the growth of the company was due to bringing into the market innovative products launched in that quarter which included a large oil-free centrifugal compressor that offers easy preventive maintenance, dry scroll vacuum pumps with high robustness and low noise level, wireless socket selectors to support error proofing processes in tightening applications, a high-capacity and automation-ready underground mine truck, and lightweight and space-saving portable compressors.

Also in the quarter, Atlas Copco had announced the acquisitions of a French steam boiler rental company, a U.S. mining distributor, a South African exploration manufacturing business, and an Australian rock drills specialist.

“We continue to focus on organic growth complemented with strategic acquisitions,” Mats Rahmström said.