Atlas Copco Group Q2 Results July 18, 2011
Q2 - highlights <ul><li>Very strong organic order growth </li></ul><ul><ul><li>Record orders received </li></ul></ul><ul><...
Q2 - figures in summary <ul><li>Orders received of MSEK 22 202 (19 221); 29% organic growth </li></ul><ul><li>Revenues of ...
Orders received - local currency July 18, 2011 Group total +32% YTD, +30% last 3 months Structural change +2% YTD, +1% las...
Q2 - Americas <ul><li>Strong growth in North America </li></ul><ul><ul><li>Record orders received for mining equipment, co...
Q2 - Europe and Africa/Middle East <ul><li>Overall demand improved in Europe </li></ul><ul><ul><li>Positive sales developm...
Q2 - Asia and Australia <ul><li>Robust demand in Asia </li></ul><ul><ul><li>Increased orders received in all markets </li>...
Organic *  growth per quarter <ul><li>Change in orders received in % vs. same quarter previous year </li></ul>July 18, 201...
Atlas Copco Group – sales bridge July 18, 2011
Compressor Technique <ul><li>Record order intake  </li></ul><ul><ul><li>27% organic order growth </li></ul></ul><ul><ul><l...
Compressor Technique July 18, 2011 *Volume and price
Construction and Mining Technique <ul><li>30% organic order growth </li></ul><ul><ul><li>Strong demand from the mining ind...
Construction and Mining Technique July 18, 2011 *Volume and price
Industrial Technique <ul><li>Record order intake </li></ul><ul><ul><li>37% organic order growth </li></ul></ul><ul><ul><li...
Industrial Technique July 18, 2011 *Volume and price
Group total July 18, 2011
Profit bridge April – June 2011 vs 2010 July 18, 2011
Profit bridge – by business area April – June 2011 vs 2010 July 18, 2011
Balance sheet  July 18, 2011
Capital structure  Net Debt*/EBITDA   * Net Debt adjusted for the fair value of interest rate swaps July 18, 2011
Cash flow July 18, 2011
Near-term outlook <ul><li>The overall demand for the Group’s products and services is expected to remain on the current hi...
July 18, 2011
 
Committed to sustainable productivity The Atlas Copco Group, July 2011 Pro forma figures for the new business area structure
Four business areas Compressor  Technique Industrial  Technique Mining and  Rock Excavation Technique Construction Techniq...
Organization Industrial Technique Atlas Copco Tools  and Assembly Systems Motor Vehicle Industry Atlas Copco Tools and Ass...
Atlas Copco Group Pro forma 2010.  Compressor Technique 43% Industrial  Technique 9% Construction Technique 32% Revenues p...
Compressor Technique Pro forma 2010.  Orders received by customer category Revenues by  business type Revenues by  geograp...
Industrial Technique Reported 2010.  Orders received by customer category Revenues by  business type Revenues by  geograph...
Mining and Rock Excavation Technique Pro forma 2010.  Orders received by customer category Revenues by  business type Reve...
Construction Technique Pro forma 2010.  Orders received by customer category Revenues by  business type Revenues by  geogr...
 
Cautionary Statement <ul><li>“ Some statements herein are forward-looking and the actual outcome could be materially diffe...
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Atlas Copco Group Q2 Results, July 18 2011

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Atlas Copco Group Q2 Results, July 18 2011

  1. 1. Atlas Copco Group Q2 Results July 18, 2011
  2. 2. Q2 - highlights <ul><li>Very strong organic order growth </li></ul><ul><ul><li>Record orders received </li></ul></ul><ul><ul><li>Favorable demand in mining, manufacturing and process industry </li></ul></ul><ul><li>Record revenues and operating profit </li></ul><ul><ul><li>The operating margin was supported by increased volumes and prices, while currency effects and revenue mix affected negatively </li></ul></ul><ul><li>Continued investments in global market presence and product development </li></ul><ul><li>New business area structure as of July 1 </li></ul><ul><ul><li>Q3 report will have four business areas </li></ul></ul>July 18, 2011
  3. 3. Q2 - figures in summary <ul><li>Orders received of MSEK 22 202 (19 221); 29% organic growth </li></ul><ul><li>Revenues of MSEK 19 951; 27% organic growth </li></ul><ul><li>Operating profit increased 19% to MSEK 4 177 </li></ul><ul><ul><li>Operating margin at 20.9% (20.1) </li></ul></ul><ul><li>Profit before tax at MSEK 4 081 (3 403) </li></ul><ul><ul><li>MSEK 75 capital gain related to sale of shares in Rental Service </li></ul></ul><ul><li>Basic earnings per share SEK 2.46 (2.07) </li></ul><ul><li>Operating cash flow MSEK 567 (2 467), affected by financial items </li></ul>July 18, 2011
  4. 4. Orders received - local currency July 18, 2011 Group total +32% YTD, +30% last 3 months Structural change +2% YTD, +1% last 3 months June 2011 A B C 19 +48 +46 10 +18 +13 30 +23 +22 11 +41 +55 23 +37 +24 7 +25 +26 A = Share of orders received, year-to-date, % B = Year-to-date vs. previous year, % C = Last 3 months vs. previous year, %
  5. 5. Q2 - Americas <ul><li>Strong growth in North America </li></ul><ul><ul><li>Record orders received for mining equipment, compressors and industrial tools </li></ul></ul><ul><ul><li>Large mining order in Mexico </li></ul></ul><ul><ul><li>Order intake to construction customers decreased compared to the first quarter </li></ul></ul><ul><li>Solid demand for most types of equipment in South America </li></ul>July 18, 2011 June 2011 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, % 19 +48 +46 10 +18 +13
  6. 6. Q2 - Europe and Africa/Middle East <ul><li>Overall demand improved in Europe </li></ul><ul><ul><li>Positive sales development in most markets, but southern Europe remained weak </li></ul></ul><ul><ul><li>Orders received improved for most types of equipment except for construction equipment </li></ul></ul><ul><li>Orders received increased in Africa / Middle East </li></ul><ul><ul><li>Strong demand in southern Africa </li></ul></ul><ul><ul><li>Large compressor order in Saudi Arabia </li></ul></ul>July 18, 2011 June 2011 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, % 30 +23 +22 11 +41 +55
  7. 7. Q2 - Asia and Australia <ul><li>Robust demand in Asia </li></ul><ul><ul><li>Increased orders received in all markets </li></ul></ul><ul><ul><li>Fewer large orders compared with the first quarter </li></ul></ul><ul><ul><li>Continued strong growth in aftermarket </li></ul></ul><ul><li>Record orders received in Australia </li></ul><ul><ul><li>Continued strong demand in mining </li></ul></ul>July 18, 2011 June 2011 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 +37 +24 7 +25 +26
  8. 8. Organic * growth per quarter <ul><li>Change in orders received in % vs. same quarter previous year </li></ul>July 18, 2011 Atlas Copco Group, continuing operations *Volume and price
  9. 9. Atlas Copco Group – sales bridge July 18, 2011
  10. 10. Compressor Technique <ul><li>Record order intake </li></ul><ul><ul><li>27% organic order growth </li></ul></ul><ul><ul><li>Solid demand for portable and industrial compressors as well as for air treatment products </li></ul></ul><ul><ul><li>Improved sales for gas and process compressors </li></ul></ul><ul><ul><li>Continued good development in the aftermarket business </li></ul></ul><ul><li>Operating margin at 23.5% (23.2) </li></ul><ul><ul><li>Support from higher volumes and price increases, but negative effect from currency and revenue mix </li></ul></ul><ul><li>New manufacturing facility to be built in India </li></ul>July 18, 2011
  11. 11. Compressor Technique July 18, 2011 *Volume and price
  12. 12. Construction and Mining Technique <ul><li>30% organic order growth </li></ul><ul><ul><li>Strong demand from the mining industry </li></ul></ul><ul><ul><li>Record order in Mexico </li></ul></ul><ul><li>Continued strong development for service, parts and consumables </li></ul><ul><li>Record operating profit </li></ul><ul><ul><li>Operating margin at 20.1% (18.0) </li></ul></ul>July 18, 2011
  13. 13. Construction and Mining Technique July 18, 2011 *Volume and price
  14. 14. Industrial Technique <ul><li>Record order intake </li></ul><ul><ul><li>37% organic order growth </li></ul></ul><ul><ul><li>Strong demand from all customer segments and in all major regions </li></ul></ul><ul><li>Operating margin at 21.8% (18.8) </li></ul><ul><ul><li>Positively affected by significantly higher volumes and increased prices, but partly offset by currency </li></ul></ul>July 18, 2011
  15. 15. Industrial Technique July 18, 2011 *Volume and price
  16. 16. Group total July 18, 2011
  17. 17. Profit bridge April – June 2011 vs 2010 July 18, 2011
  18. 18. Profit bridge – by business area April – June 2011 vs 2010 July 18, 2011
  19. 19. Balance sheet July 18, 2011
  20. 20. Capital structure Net Debt*/EBITDA * Net Debt adjusted for the fair value of interest rate swaps July 18, 2011
  21. 21. Cash flow July 18, 2011
  22. 22. Near-term outlook <ul><li>The overall demand for the Group’s products and services is expected to remain on the current high level. </li></ul>July 18, 2011
  23. 23. July 18, 2011
  24. 25. Committed to sustainable productivity The Atlas Copco Group, July 2011 Pro forma figures for the new business area structure
  25. 26. Four business areas Compressor Technique Industrial Technique Mining and Rock Excavation Technique Construction Technique <ul><li>Industrial compressors </li></ul><ul><li>Gas and process </li></ul><ul><li>compressors and </li></ul><ul><li>expanders </li></ul><ul><li>Air and gas treatment </li></ul><ul><li>Specialty rental </li></ul><ul><li>Service </li></ul><ul><li>Industrial tools </li></ul><ul><li>Assembly systems </li></ul><ul><li>Service </li></ul><ul><li>Rock drilling equipment - </li></ul><ul><li>underground and surface </li></ul><ul><li>Loaders and trucks </li></ul><ul><li>Mobile crushing </li></ul><ul><li>Exploration drilling and </li></ul><ul><li>ground engineering </li></ul><ul><li>Rock drilling tools </li></ul><ul><li>Service </li></ul><ul><li>Light construction </li></ul><ul><li>equipment </li></ul><ul><li>Road construction </li></ul><ul><li>equipment </li></ul><ul><li>Portable compressors </li></ul><ul><li>and generators </li></ul><ul><li>Service </li></ul><ul><li>2010 figures pro-forma </li></ul><ul><li>Revenues MSEK 29 753 </li></ul><ul><li>Operating margin 24.3% </li></ul><ul><li>ROCE 70% </li></ul><ul><li>2010 figures reported </li></ul><ul><li>Revenues MSEK 6 472 </li></ul><ul><li>Operating margin 19.5% </li></ul><ul><li>ROCE 50% </li></ul><ul><li>2010 figures pro-forma </li></ul><ul><li>Revenues MSEK 22 520 </li></ul><ul><li>Operating margin 21.8% </li></ul><ul><li>ROCE 53% </li></ul><ul><li>2010 figures pro-forma </li></ul><ul><li>Revenues MSEK 11 485 </li></ul><ul><li>Operating margin 10.6% </li></ul><ul><li>ROCE 11% </li></ul>
  26. 27. Organization Industrial Technique Atlas Copco Tools and Assembly Systems Motor Vehicle Industry Atlas Copco Tools and Assembly Systems General Industry Chicago Pneumatic Tools Tooltec Atlas Copco Group Presentation 2011 Executive Group Management and corporate functions Oil-free Air Industrial Air Specialty Rental Gas and Process Compressor Technique Service Airtec Compressor Technique Mining and Rock Excavation Technique Underground Rock Excavation Surface Drilling Equipment Drilling Solutions Secoroc Geotechnical Drilling and Exploration Mining and Rock Excavation Technique Service Rocktec Customer centers and service providers President and CEO Board of Directors Construction Technique Construction Tools Road Construction Equipment Portable Energy Construction Technique Service
  27. 28. Atlas Copco Group Pro forma 2010. Compressor Technique 43% Industrial Technique 9% Construction Technique 32% Revenues per business area Mining and Rock Excavation Technique 16%
  28. 29. Compressor Technique Pro forma 2010. Orders received by customer category Revenues by business type Revenues by geographic area North America 16% Europe 35% Africa/ Middle East 11% 30% 8% Asia/ Australia South America Construction Process Services 40% 8% 8% 11% 5% 28% Manufacturing Mining Others Equipment 59% Aftermarket 35% 6% Rental
  29. 30. Industrial Technique Reported 2010. Orders received by customer category Revenues by business type Revenues by geographic area North America 25% Europe 47% Africa/ Middle East 2% 21% 5% Asia/ Australia South America Construction 2% Manufacturing 82% Process 2% Services 2% 12% Other Equipment 74% Aftermarket 26%
  30. 31. Mining and Rock Excavation Technique Pro forma 2010. Orders received by customer category Revenues by business type Revenues by geographic area Construction 36% Services 1% Mining 60% 3% Others North America 21% Europe 22% Africa/ Middle East 15% 28% 14% Asia/ Australia South America Equipment 37% Aftermarket, incl. rental 37% 26% Consumables
  31. 32. Construction Technique Pro forma 2010. Orders received by customer category Revenues by business type Revenues by geographic area Construction Manufacturing Services 63% 11% 9% 4% 11% 2% Mining Others Process North America 10% Europe 37% Africa/ Middle East 11% 27% 15% Asia/ Australia South America Equipment 81% Aftermarket 19%
  32. 34. Cautionary Statement <ul><li>“ 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.” </li></ul>July 18, 2011

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