Ronnie Leten comments on Atlas Copco's Q3 results

Ronnie Leten comments on Atlas Copco's Q3 results

Stockholm, Sweden, October 22, 2010: Atlas Copco today reported third
quarter results with record profits and a strong organic order growth.
Asia, Australia and South America all reported record order intake.

Organic orders received increased 35% to MSEK 19 316 (14 309) and
revenues increased 18% organically to MSEK 17 743. Sequentially, sales
of mining and industrial equipment improved while the order intake for
construction equipment weakened somewhat. Operating profit increased to
a new record of MSEK 3 782 (2 402), corresponding to an operating margin
of 21.3% including restructuring costs.
“Better market penetration, new innovative products and a fantastic
development for our aftermarket business, combined with a further
enhanced customer focus has paid off,” says Ronnie Leten, President and
CEO of the Atlas Copco Group. “I am particularly pleased to see that our
energy efficient solutions and our service offering has gained solid
ground at customers in the emerging markets.”
All business areas launched new products and solutions offering higher
productivity, better ergonomics, increased safety, and improved energy
efficiency.
“We received some very large orders for mining and tunneling equipment
from Kazakhstan and India and a major compressor order for the pipeline
industry in Russia. These orders show a strong confidence in Atlas
Copco's products and services.
In the quarter Atlas Copco acquired an Austrian mobile crushing
operation, a Dutch biogas treatment company and a British drilling
equipment company. These companies add complementary products to the
Atlas Copco ranges. A new customer center was inaugurated in Panama and
on the Group's two largest markets - United States and China - new
efficient distribution centers are established. Atlas Copco also
acquired a tool distributor in the United States to further penetrate
the market.
“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.”

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