Exchange rates lift Atlas Copco

Atlas Copco Construction Technique’s revenues for the second quarter of the year were up +5% to SEK 4.26 billion (US$ 492 million). However, the division’s operating profit fell -16% to SEK 457 million (US$ 53 million) compared to the same period last year.

The company said the overall volume of equipment it sold in the second quarter was down -7% compared to a year ago. However, favourable exchange rates and a +1% increase in prices meant revenues rose.

There was a similar story for Atlas Copco Construction Technique’s order intake, which was down -6% in volume terms, but up +6% in currency terms to SEK 4.12 billion (US$ 477 million). A company statement said, “The order volumes were stable for construction and demolition tools, but decreased for portable compressors and for road construction equipment. Orders received increased in Europe, but decreased in all other regions.”

Overall Atlas Copco’s revenues for the quarter were up +12% to SEK 26.1 billion (US$ 3.02 billion), while its order intake rose +14% to SEK 26.8 billion (US$ 3.1 billion) and its net profit was up +14% to US$ 3.65 billion (US$ 423 million).