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Atlas Copco Q3/2010 results

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Atlas Copco Q3/2010 results Presentation Transcript

  • 1. Atlas Copco Group Q3 Results October 22, 2010
  • 2. Q3 - highlights
    • Strong order growth
      • Sequentially higher volumes in all regions and in most customer segments
      • Record order intake, again, in Asia, South America and Australia
      • Strong performance in aftermarket
    • Record operating profit and margin
      • Revenue volume, sales mix, price, and efficiency measures gave support
    • Investments in market organization and logistics
    October 22, 2010
  • 3. Q3 - figures in summary
    • 35% organic order growth
    • Revenues of MSEK 17 743; 18% organic growth
    • Operating profit at MSEK 3 782 (2 402)
      • Restructuring cost of MSEK 100
      • Adjusted operating margin of 21.9% (15.9)
    • Profit before tax at MSEK 3 675 (2 210)
    • Basic earnings per share SEK 2.17 (1.42)
    • Operating cash flow MSEK 2 479 (4 275)
    October 22, 2010
  • 4. Orders received - local currency Group total +33% YTD (+31% excl. cancellations), +37% last 3 months Structural change +2% YTD, +2% last 3 months September 2010 October 22, 2010 18 +51 +49 A = Share of orders received, year-to-date, % B = Year-to-date vs. previous year, % C = Last 3 months vs. previous year, % 11 +46 +30 A B C 31 +20 +26 10 +11 +1 23 +46 +60 7 +55 +96
  • 5. Q3 - the Americas
    • Strong growth in North America
      • Sequential improvement for most types of equipment and for the aftermarket.
      • The demand from manufacturing and construction industries developed particularly well.
    • Record level of orders in South America
      • Continued strong demand from all countries and from most customer segments
    October 22, 2010 September 2010 A B C A = Share of orders received, year-to-date, % B = Year-to-date vs. previous year, % C = Last 3 months vs. previous year, % 18 +51 +49 11 +46 +30
  • 6. Q3 - Europe and Africa/Middle East
    • Slightly improved activity in Europe
      • Sequential improvement in most industries, but sales to construction industry was somewhat weaker than in Q2
      • Strong growth vs. weak Q3 2009
      • The best development in the east, with the south at the bottom of the list
    • Mixed picture in Africa / Middle East
      • Improved sales to mining industry in South Africa
      • Lower sales in the Middle East
      • Aftermarket business developed favorably
    October 22, 2010 September 2010 A B C A = Share of orders received, year-to-date, % B = Year-to-date vs. previous year, % C = Last 3 months vs. previous year, % 31 +20 +26 10 +11 +1
  • 7. Q3 - Asia and Australia
    • Record order intake in Asia
      • Strong growth in all major markets
      • High activity level in all industries supported strong growth in aftermarket
      • Large mining order from Kazakhstan
    • Continued favorable mining demand in Australia contributed to record orders received
    October 22, 2010 September 2010 A B C A = Share of orders received, year-to-date, % B = Year-to-date vs. previous year, % C = Last 3 months vs. previous year, % 23 +46 +60 7 +55 +96
  • 8. Organic * growth per quarter
    • Change in orders received in % vs. same quarter previous year
    October 22, 2010 Atlas Copco Group, continuing operations *Volume and price
  • 9. Atlas Copco Group – sales bridge October 22, 2010
  • 10. Atlas Copco Group Revenues, operating profit and return on capital employed (ROCE) by business area October 22, 2010
  • 11. Compressor Technique
    • 25% organic order growth vs. Q3 2009
      • Continued strong demand for stationary and portable compressors
      • Strong growth in North and South America, Asia and eastern Europe
    • Very strong development in aftermarket with high growth in emerging markets
    • Operating margin at 26.0%
      • Positively affected by volume, efficiency improvements, sales mix, currency and price
    • Acquisition of Cirmac in October.
      • Biogas upgrading and gas treatment systems
    October 22, 2010
  • 12. Compressor Technique October 22, 2010 *Volume and price
  • 13. Construction and Mining Technique
    • Strong growth in both equipment and aftermarket
      • 47% organic order growth vs. Q3 2009
      • Continued strong demand from the mining industry
      • Orders for construction equipment somewhat weaker than in Q2
    • Operating margin at 17.8%
      • MSEK 100 restructuring cost for consolidating production in Germany
      • Record high operating margin, excluding restructuring, at 19.2%
    • Acquisition of manufacturer of mobile crushers and screeners
    October 22, 2010
  • 14. Construction and Mining Technique October 22, 2010 *Volume and price
  • 15. Industrial Technique
    • Improved demand from all customer segments
      • 45% organic order growth vs. Q3 2009
      • Strong growth in Asia
      • Rapid growth of aftermarket, particularly in emerging markets
    • Operating margin increased to 20.2%
      • Positively affected by increased volumes and cost savings
    • Acquisition of a distributor business in Michigan, the United States
    October 22, 2010
  • 16. Industrial Technique October 22, 2010 *Volume and price
  • 17. Group total October 22, 2010
  • 18. Profit bridge July – September, 2010 vs 2009 October 22, 2010
  • 19. Profit bridge – by business area July – September, 2010 vs 2009 October 22, 2010
  • 20. Balance sheet October 22, 2010
  • 21. Capital structure Net Debt*/EBITDA * Net Debt adjusted for the fair value of interest rate swaps October 22, 2010
  • 22. Atlas Copco AB’s loan maturity profile October 22, 2010
  • 23. Cash flow Operating cash surplus after tax is adjusted for equity hedges in net financial items. October 22, 2010
  • 24. Capital Markets Day
    • December 1, 2010, in Nacka, Sweden
    • www.atlascopco.com/CMD2010
    October 22, 2010
  • 25. Near-term outlook
    • The overall demand for the Group’s products and services is expected to increase somewhat. The sequential improvement is primarily expected to come from emerging markets.
    October 22, 2010
  • 26. October 22, 2010
  • 27.  
  • 28. Cautionary Statement
    • “ Some statements herein are forward-looking and the actual outcome could be materially different. In addition to the factors explicitly commented upon, the actual outcome could be materially and adversely affected by other factors such as the effect of economic conditions, exchange-rate and interest-rate movements, political risks, the impact of competing products and their pricing, product development, commercialization and technological difficulties, supply disturbances, and major customer credit losses.”
    October 22, 2010