Atlas Copco Group CEO and President Mats Rahmström says the manufacturer of industrial tools and equipment experienced “solid profitability, weaker demand” after releasing its Q3 results.
Compared to the previous year, orders received during the third quarter increased 6% to MSEK 23 440 (22 062), an organic decline of 1%. Revenues increased 13% to MSEK 23 675 (21 033), $2,598.68, an organic growth of 6%. The operating profit increased to MSEK 5 263 (5 002), $583.80. Excluding items affecting comparability, the adjusted operating profit margin was 22.5% (22.2).
In the near term, the Sweden-based company expects customer demand to be somewhat lower, mainly due to the semiconductor and automotive industries.
“Our profitability is solid and we continued to grow the service business in all our business areas, but compared to recent high levels the demand weakened in some customer segments,” said Rahmström.
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