Atlas Copco Construction maintains margin
By Chris Sleight29 April 2013
Atlas Copco Construction Technique’s revenues for the first quarter of the year were down -14% on the same period last year, at SEK 2.76 billion (US$ 423 million). The division’s operating profit dropped -24% to SEK 263 million (US$ 40.2 million), however, the business maintained an operating margin of 9.5%.
In addition to falling revenues and profits, Atlas Copco saw its order intake for the first quarter come in -9% lower than the same period last year, at SEK 3.29 billion (US$ 503 million). “Geographically, the order volumes improved somewhat in North America and in Asia, but decreased in Europe. The development was positive for portable energy products, such as portable compressors, while it was negative for road construction equipment,” the company said in a statement.
As a group, Atlas Copco’s revenues for the first quarter were down -9% at SEK 22.2 billion (US$ 3.4 billion) and its net profit dropped -12% to SEK 2.99 billion (US$ 457 million)
Group president & CEO Ronnie Leten said, “Demand for our equipment weakened somewhat as the mining sector and much of the European region continued to struggle. The industrial segments performed well, notably in North America, as did our service business overall.”