We are committed to sustainable productivity

Transcription

1 We are committed to sustainable productivity 2018 results July 20, 2018

2 2 Strategy into action Standard product for high flow air compressors with high energy efficiency and shorter delivery times

3 3 in brief Record order intake Continued strong customer demand Organic growth in all business areas and in all major regions Record revenues Increased output from factories Record operating profit Successful spin-off of Epiroc

4 4 figures in summary Orders received were MSEK (22 286), organic growth of 10% Revenues were MSEK (21 397), organic growth of 11% Operating profit increased 18% to MSEK (4 597), margin at 22.2% (21.5) Profit for the period was MSEK (3 038) Basic earnings per share were SEK 3.21 (2.50) Operating cash flow including discontinued operations was MSEK (4 838) Orders, revenues and operating profit margin % % % % % % 0 Q3 Q4 Q3 Q Orders received, MSEK Revenues, MSEK Operating margin, % *2016 quarterly figures shows best estimated numbers, as effects of the split of the group and restatements for IFRS 15, are not fully reconciled. 0%

5 Orders received local currency June 30, 2018 Share of orders received, year-to-date, % Year-to-date vs. previous year, % Last 3 months vs. previous year, %

6 11 * 11 * 11 Q3* 11 Q4* 12 * 12 * 12 Q3* 12 Q4* 13 * 13 * 13 Q3* 13 Q4* 14 * 14 * 14 Q3* 14 Q4* 15 * 15 * 15 Q3* 15 Q4* 16 * 16 * 16 Q3* 16 Q4* 17 * 17 * 17 Q3* 17 Q4* Order growth per quarter Organic growth *2011- excluding Mining and Rock Excavation Technique business area

7 Sales bridge 7 April - June January - June Orders Orders MSEK received Revenues received Revenues Structural change, % Currency, % Organic*, % Total, % *Volume, price and mix

8 Atlas Copco Group 8 Revenues by business area and organic order growth* Power Technique Organic order growth +5% Industrial Technique Organic order growth +8% 19% 13% 45% Compressor Technique Organic order growth +12% 23% Vacuum Technique Organic order growth +8% * Share of Group revenue 12 months ending June month organic order growth compared to previous year.

9 9 Compressor Technique Record order intake Organic order growth of 12% Strong growth in large compressors, particularly in Europe and China Record revenues Organic growth of 13% Record profit and solid operating margin at 23.4% (23.1) Margin supported by volume Negative currency effect % 25% 20% 15% 10% 5% Innovation: A new oil-free screw compressor, ZR , offers up to 35% energy savings. 0 Q3 Q4 Q3 Q Orders received, MSEK Revenues, MSEK Operating margin, % * 2016 figures not restated per IFRS 15. 0%

10 Vacuum Technique 10 Solid order level, organic growth of 8% New products and increased market penetration drive strong growth in industrial applications Strong growth for service Semicon equipment slightly below previous year Record revenues Organic growth of 16% Operating margin at 25.8% (25.0) Supported by volume Neutral currency effect Innovation: A new flexible dry vacuum pump with state of the art contaminant handling capabilities for industrial use % Q3 Q4 Q3 Q Orders received, MSEK Revenues, MSEK Operating margin, % * 2016 figures not restated per IFRS % 24% 20% 16% 12% 8% 4%

11 Industrial Technique 11 Record order intake Organic growth of 8% Good demand from both motor vehicle and general industry Strong growth for service in all regions Record revenues Organic growth of 6% Solid operating margin at 23.4% (23.3) % 32% 24% 16% 8% Innovation: A new test bench that can replicate real joint characteristics and guarantee tool testing in real operating conditions. 0 0% Q3 Q4 Q3 Q Orders received, MSEK Revenues, MSEK Operating margin, % Adjusted operating margin, % * 2016 figures not restated per IFRS 15.

12 12 Power Technique Organic order growth of 5% Order growth driven by Europe and Africa/Middle East % Growth for equipment, flat service development % Revenue growth of 6% Operating margin at 15.0% (16.3) % % 0 Q3 Q4 Q3 Q % Innovation: A new, combined mobile compressor and generator, minimizes the amount of equipment at customer s site. Orders received, MSEK Revenues, MSEK Operating margin, % Adjusted operating margin, % *2016 quarterly figures shows best estimated numbers, as effects of the split of the Group and restatements for IFRS 15, are not fully reconciled.

13 Group total April June 2018 vs % Continuing operations April - June MSEK 2018 Orders received % Revenues % Operating profit % as a percentage of revenues Profit before tax % as a percentage of revenues Income tax expense % as a percentage of profit before tax Profit for the period from continuing operations % Basic earnings per share, SEK Return on capital employed, % Q3 Q4 Q3 Q Orders received, MSEK Revenues, MSEK Operating margin, % *2016 quarterly figures shows best estimated numbers, as effects of the split of the Group and restatements for IFRS 15, are not fully reconciled. 25% 20% 15% 10% 5% 0%

14 Profit bridge April June 2018 vs. 14 Volume, price, Share-based MSEK 2018 mix and other Currency Acquisitions LTI* programs Atlas Copco Group * Revenues Operating profit % 27.5% 21.5% *LTI = Long term incentive

15 15 Profit bridge by business area April June 2018 vs. Volume, price, MSEK 2018 mix and other Currency Acquisitions Compressor Technique Revenues Operating profit % 35.4% 23.1% Vacuum Technique Revenues Operating profit % 33.3% 25.0% Industrial Technique Revenues Operating profit % 8.7% 23.3% Power Technique Revenues Operating profit % N/A 16.3%

16 Balance sheet 16 MSEK Intangible assets Jun. 30, Mar. 31, Dec. 31, * * Jun. 30, * 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 TOTAL ASSETS Total equity Interest-bearing liabilities Non-interest-bearing Liabilities directly associated liabilities with assets classified as held for sale TOTAL EQUITY AND LIABILITIES *Including assets and liabilities related to Epiroc reported as discontinued operations.

17 Cash flow including discontinued operations 17 April - June January - June 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

18 Near-term outlook 18 Demand from most customer segments is expected to remain at current high level. Equipment demand from the semiconductor industry is expected to be somewhat lower in the near-term.

19 19 Committed to sustainable productivity.

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21 21 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.