Committed to sustainable productivity

Transcription

1 Committed to sustainable productivity results

2 Did you know? 2 Atlas Copco - results

3 in brief 4 Record revenues and high profit level Order growth for all business areas Growth in all regions Strong operating cash flow Road Construction Equipment division divested The split project progressing according to plan Atlas Copco - results

4 5 figures in summary continuing operations Orders received increased 10% to MSEK (27 617), organic growth of 14% Revenues were MSEK (28 495), organic growth of 11% Adjusted operating profit was MSEK (5 849), margin at 21.5% (20.5) Reported operating profit was MSEK (5 785), margin at 20.2% (20.3) Items affecting comparability of MSEK -407 (-64) Profit for the period of MSEK (4 254) Basic earnings per share SEK 3.49 (3.49) Operating cash flow* at MSEK (6 537) *Including discontinued operations Atlas Copco - results

5 6 in brief Record orders, revenues and profit Record operating cash flow Double-digit order growth for all business areas Particular strong growth for Vacuum Technique and Mining and Rock Excavation Technique Eight acquisitions completed Proposed distribution to shareholders of MSEK Dividend of SEK 7.00 (6.80) per share to be paid in one installment Mandatory redemption of SEK 8.00 per share Atlas Copco - results

6 7 figures in summary continuing operations Orders received increased 20% to record MSEK ( ), organic growth of 15% Revenues increased 15% to MSEK ( ), organic growth of 10% Operating profit of MSEK (19 798) Operating margin of 20.8% (19.5) Operating cash flow* at MSEK (18 109) Basic earnings per share SEK (11.32) *Including discontinued operations Atlas Copco - results

7 Orders received local currency December Share of orders received, year-to-date, % Atlas Copco - results Year-to-date vs. previous year, % Last 3 months vs. previous year, %

8 Order growth per quarter Organic growth Organic growth, % (volume and price) Atlas Copco - results

9 Sales bridge 10 October - December January - December Orders Orders MSEK received Revenues received Revenues Structural change, % Currency, % Price, % Volume, % Total, % Atlas Copco - results

10 Atlas Copco Group 11 Revenues by business area Power Technique 11% Mining and Rock Excavation Technique 25% 33% Compressor Technique 14% 17% Industrial Technique Vacuum Technique 12 months ending December Atlas Copco - results

11 12 Compressor Technique Organic order growth of 7% Growth for service and most equipment types Growth in North America supported by new product introductions Record revenues and profit Operating margin at 23.3% (21.9) Supported by volume Negatively affected by currency % 25% 20% 15% 10% % Innovation: New large oil-free centrifugal compressor offers premium energy efficiency and easy preventive maintenance. 0 Orders received, MSEK Revenues, MSEK Operating margin, % 0% Atlas Copco - results

12 13 Vacuum Technique Organic order growth of 38% Strong equipment growth for semiconductor, industrial and high vacuum Continued growth for service Record revenues and profit Operating margin at 25.8% (24.4) Negative currency impact Successful introduction of new products % 24% 20% 16% 12% 8% % Atlas Copco - results Innovation: A new range of dry scroll pumps offering industrial customers and laboratories best in class performance in a compact, quiet, clean and low energy consumption package. 0 Orders received, MSEK Revenues, MSEK Operating margin, % 0%

13 14 Industrial Technique Organic order growth of 7% Good order development for production of electrical and light vehicle cars Strong growth for aerospace and general assembly applications Continued growth for service in all regions Record revenues Operating margin at 23.1% (24.1) Negatively affected by currency % 32% 24% 16% 8% Innovation: New wireless socket selector that can be connected to customers factory network and wireless power tools offers increased flexibility and improved productivity. 0 Orders received, MSEK Revenues, MSEK Operating margin, % Adjusted operating margin, % 0% Atlas Copco - results

14 15 Mining and Rock Excavation Technique Strong organic order growth of 16% Solid growth for surface and underground equipment Continued growth for service and consumables Operating margin at 20.3% (20.0) Supported by volume Negatively affected by currency and sales mix Several new products launched during the quarter % 20% 15% 10% % Innovation: A new high capacity mine truck in a compact design prepared for automation. 0 Orders received, MSEK Revenues, MSEK Operating margin, % 0% Atlas Copco - results

15 16 Power Technique % Organic order growth of 5% Growth for equipment and specialty rental Growth in all regions % Service remained on previous year s level Operating margin at 14.1% (13.9) One time items of MSEK % Adjusted operating profit at 15.0% (13.9) % % Innovation: New lightweight, and compact compressor, offering fuel efficiency savings of up to 8% against comparable units. 0 Orders received, MSEK Revenues, MSEK Operating margin, % Adjusted operating margin, % 0% Atlas Copco - results

16 17 Group total October December vs % % Continuing operations October - December MSEK % Orders received % Revenues % Operating profit % as a percentage of revenues Profit before tax % as a percentage of revenues Income tax expense % Profit for the period from continuing operations % Basic earnings per share, SEK Return on capital employed, % % 16% 12% 8% 4% 0% Orders received, MSEK Revenues, MSEK Operating margin, % Atlas Copco - results

17 Profit bridge October December vs. 18 Volume, price, One-time items Share-based MSEK mix and other Currency Acquisitions LTI* programs * Atlas Copco Group Revenues Operating profit % 39.2% 20.3% *LTI = Long Term Incentive Atlas Copco - results

18 Profit bridge by business area October December vs. 19 Volume, price, One-time items MSEK mix and other Currency Acquisitions Compressor Technique Revenues Operating profit % 56.9% 21.9% Vacuum Technique Revenues Operating profit % 56.0% 24.4% Industrial Technique Revenues Operating profit % 21.6% 24.1% Mining and Rock Excavation Technique Revenues Operating profit % 27.5% 20.0% Power Technique Revenues Operating profit % 28.3% 13.9% Atlas Copco - results

19 20 Balance sheet MSEK Dec. 31, Dec. 31, Intangible assets % % Rental equipment % % Other property, plant and equipment % % Other non-current assets % % Inventories % % Receivables % % Current financial assets % % Cash and cash equivalents % % Assets classified as held for sale 193 0% % TOTAL ASSETS Total equity % % Interest-bearing liabilities % % Non-interest-bearing liabilities % % Liabilities directly associated with assets classified as held for sale 56 0% 811 1% TOTAL EQUITY AND LIABILITIES Atlas Copco - results

20 Cash flow* 21 October - December January - December MSEK Operating cash surplus of which depreciation added back Net financial items Taxes paid Pension funding Change in working capital Increase in rental equipment, net Cash flows from operating activities Investments of property, plant & eq., net Other investments, net Cash flow from investments Adjustment, pensions Adjustment, currency hedges of loans Adjustment, tax payment in Belgium Sale of financial assets Operating cash flow Company acquisitions/ divestments *Including discontinued operations Atlas Copco - results

21 Earnings and dividends Proposed by the Board of Directors Ordinary dividend per share, SEK Earnings per share, SEK Extra ordinary items, SEK Dividend and redemption per share, SEK Atlas Copco - results

22 Epiroc split 23 TODAY Atlas Copco AGM All Tax and Legal Step Plans approved Epiroc legal structure established Audit by Nasdaq Stockholm Listing on Nasdaq Stockholm Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2018 Jan Feb Mar Apr May Jun Jul 1. Blueprint and planning 2. Execution and local transactions 3. Stand alone 4. Transition Atlas Copco report, incl. dividend proposal - Notice to Atlas Copco AGM - Information broschure on Epiroc dividend policy, incl. financial targets, capitalization etc. - Listing Committee decision, Nasdaq Stockholm - Publishing of listing prospectus - Capital Markets Day, Epiroc Atlas Copco - results

23 Near-term outlook 24 The overall demand for the Group is expected to remain at current high level. Atlas Copco - results

24 25 Committed to sustainable productivity. Atlas Copco - results

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26 27 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. Atlas Copco - results