Atlas Copco Q2 2010 results
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Atlas Copco Q2 2010 results

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Atlas Copco Q2 2010 results Presentation Transcript

  • 1. Atlas Copco Group Q2 Results July 16, 2010
  • 2. Contents
    • Q2 business highlights
    • Market development
    • Business areas
    • Financials
    • Outlook
    July 16, 2010
  • 3. Q2 - highlights
    • Strong order growth
      • Sequential improvement in all major regions and in most customer segments
      • Record orders received in Asia, South America and Australia
      • Strong performance in aftermarket
    • Record operating profit margin at 20.1%
      • Revenue volume, currency, sales mix, price, and efficiency measures all gave support
    • Very strong operating cash flow
    July 16, 2010
  • 4. Q2 - figures in summary
    • 33% organic order growth
    • Revenues of MSEK 17 430; 9% organic growth
    • Operating profit at MSEK 3 499 (2 066)
      • Operating margin of 20.1% (14.4 adjusted for restructuring)
      • Restructuring cost of MSEK 259 in 2009
    • Profit before tax at MSEK 3 403 (1 943)
    • Basic earnings per share SEK 2.07 (1.20)
    • Operating cash flow MSEK 2 847 (2 492)
    July 16, 2010
  • 5. Contents
    • Q2 business highlights
    • Market development
    • Business areas
    • Financials
    • Outlook
    July 16, 2010
  • 6. Orders received - local currency Group total +31% YTD (+29 excl. cancellations), +35% last 3 months Structural change +1% YTD, +2% last 3 months June 2010 July 16, 2010 17 +52 +56 A = Share of orders received, year-to-date, % B = Year-to-date vs. previous year, % C = Last 3 months vs. previous year, % 11 +56 +53 A B C 32 +17 +28 11 +17 +19 23 +40 +43 6 +37 +15
  • 7. Q2 - the Americas
    • Strong growth in North America
      • Order intake improved for most types of equipment and for aftermarket, both sequentially and compared with Q2 2009
      • The demand for industrial equipment developed particularly well
    • Record orders received in South America
      • Strong demand from all countries and from most customer segments
    June 2010 July 16, 2010 A B C 17 +52 +56 11 +56 +53 A = Share of orders received, year-to-date, % B = Year-to-date vs. previous year, % C = Last 3 months vs. previous year, %
  • 8. Q2 - Europe and Africa/Middle East
    • Sequential improvement in Europe
      • Most positive order development was seen in Russia, many other eastern European countries and in the Nordic countries
      • Southern Europe remained weak
      • Recovery in orders for construction equipment
    • Continued growth in Africa / Middle East
      • Strong development in central and northern Africa, thanks to orders from the mining industry
      • Flat in South Africa
    June 2010 July 16, 2010 A B C 32 +17 +28 11 +17 +19 A = Share of orders received, year-to-date, % B = Year-to-date vs. previous year, % C = Last 3 months vs. previous year, %
  • 9. Q2 - Asia and Australia
    • Record order intake in Asia
      • Very strong growth in China and India
      • Positive development in Japan and South Korea
      • Strong growth in aftermarket
      • High activity level in manufacturing industry
    • Continued favorable mining demand in Australia contributed to record orders received
    June 2010 July 16, 2010 A B C 23 +40 +43 6 +37 +15 A = Share of orders received, year-to-date, % B = Year-to-date vs. previous year, % C = Last 3 months vs. previous year, %
  • 10. Organic * growth per quarter
    • Change in orders received in % vs. same quarter previous year
    July 16, 2010 Atlas Copco Group, continuing operations *Volume and price
  • 11. Atlas Copco Group – sales bridge July 16, 2010
  • 12. Contents
    • Q2 business highlights
    • Market development
    • Business areas
    • Financials
    • Outlook
    July 16, 2010
  • 13. Atlas Copco Group Revenues, operating profit and return on capital employed (ROCE) by business area July 16, 2010
  • 14. Compressor Technique
    • 28% organic order growth vs. Q2 2009
      • Increased demand for standard machines, stationary and portable
      • Strong growth in China and other emerging markets
      • Improvement also in North America and in Europe
    • Very strong development in aftermarket with high growth in emerging markets
    • Operating margin at 23.2%
      • Positively affected by volume, sales mix, currency, price and efficiency measures.
    • Acquisition of American Air Products
      • Distributor based in Minnesota, the United States
    July 16, 2010
  • 15. Compressor Technique July 16, 2010 *Volume and price
  • 16. Construction and Mining Technique
    • 40% organic order growth vs. Q2 2009
      • Strong growth in both equipment and aftermarket
      • Continued favorable demand from the mining industry
      • Increased orders for construction equipment
    • Operating margin at 18.0%
      • Supported by volume, mix and efficiency
    • Successful launch of new products at Bauma in Germany
    July 16, 2010
  • 17. Construction and Mining Technique July 16, 2010 *Volume and price
  • 18. Industrial Technique
    • 40% organic order growth vs. Q2 2009
      • Improved demand from all customer segments and all major regions
      • Very strong growth in North America and Asia and also Europe improved
      • Vehicle manufacturers have started to invest in new equipment, both for existing and new assembly lines
    • Operating margin increased to 18.8%
      • Positively affected by increased volumes and cost savings
    • Strengthened industrial tools distribution in southern United States
    July 16, 2010
  • 19. Industrial Technique July 16, 2010 *Volume and price
  • 20. Contents
    • Q2 business highlights
    • Market development
    • Business areas
    • Financials
    • Outlook
    July 16, 2010
  • 21. Group total July 16, 2010
  • 22. Profit bridge April – June, 2010 vs 2009 July 16, 2010
  • 23. Profit bridge – by business area April – June, 2010 vs 2009 July 16, 2010
  • 24. Balance sheet July 16, 2010
  • 25. Capital structure Net Debt*/EBITDA * Net Debt adjusted for the fair value of interest rate swaps July 16, 2010
  • 26. Atlas Copco AB’s loan maturity profile July 16, 2010
  • 27. Cash flow Operating cash surplus is adjusted for equity hedges in net financial items. July 16, 2010
  • 28. Contents
    • Q2 business highlights
    • Market development
    • Business areas
    • Financials
    • Outlook
    July 16, 2010
  • 29. Near-term outlook
    • The overall demand for the Group’s products and services is expected to increase somewhat.
    • In emerging markets, demand is foreseen to develop favorably in all business areas. Demand in North America and parts of Europe is expected to increase gradually.
    July 16, 2010
  • 30. July 16, 2010
  • 31.  
  • 32. 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.”
    July 16, 2010