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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Atlas Copco AB    ATCO A   SE0011166610

ATLAS COPCO AB

(ATCO A)
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Atlas Copco : Quarterly Report Q3 2020

10/22/2020 | 03:30am EST

Press release from Atlas Copco AB

October 22, 2020

Atlas Copco

Third-quarter report 2020

Sequential improvement but below previous year

The comparison figures presented in this report refer to previous year unless otherwise stated.

  • Order intake decreased 11% to MSEK 24 246 (27 102), organic decline of 6%
  • Revenues reached MSEK 24 849 (26 676), organic decline of 2%
  • Adjusted operating profit, excluding items affecting comparability, decreased 15% to MSEK 5 021 (5 880), corresponding to a margin of 20.2% (22.0)
  • Reported operating profit was MSEK 4 760 (5 843), corresponding to a margin of 19.2% (21.9)
  • Profit before tax amounted to MSEK 4 696 (5 778)
  • Basic earnings per share were SEK 2.98 (3.64)
  • Operating cash flow at MSEK 5 143 (4 643)
  • Return on capital employed was 24% (32)
  • The Board of Directors proposes a dividend of SEK 3.50 per share to be paid in the fourth quarter

July - September

January - September

MSEK

2020

2019

2020

2019

Orders received

24 246

27 102

-11%

74 686

80 479

-7%

Revenues

24 849

26 676

-7%

74 049

76 437

-3%

Operating profit

4 760

5 843

-19%

13 773

16 270

-15%

- as a percentage of revenues

19.2

21.9

18.6

21.3

Profit before tax

4 696

5 778

-19%

13 532

16 000

-15%

- as a percentage of revenues

18.9

21.7

18.3

20.9

Profit for the period

3 618

4 424

-18%

10 587

12 212

-13%

Basic earnings per share, SEK

2.98

3.64

8.71

10.05

Diluted earnings per share, SEK

2.97

3.63

8.70

10.04

Return on capital employed, %

24

32

Near-term demand outlook

Although the world's economic development remains uncertain, Atlas Copco expects that the demand for the Group's products and services will remain at current level.

Previous near-term demand outlook (published July 16, 2020):

Although the world's economic development remains uncertain, Atlas Copco expects that the near-term demand for the Group´s equipment and services will improve somewhat compared to the level in the second quarter.

Quarterly and annual financial data in Excel format can be found at: https://www.atlascopcogroup.com/en/investor-relations/financial-reports-presentations/latest-results

Atlas Copco Group Center

Atlas Copco AB

Visitors address:

Telephone: +46 8 743 8000

A Public Company (publ)

SE-105 23 Stockholm

Sickla Industriväg 19

www.atlascopcogroup.com

Reg. No: 556014-2720

Sweden

Nacka

Reg. Office Nacka

Atlas Copco - Q3 2020

Summary of nine-month results

Orders received in the first nine months of 2020 decreased by 7% to MSEK 74 686 (80 479), corresponding to an organic decline of 8%. Acquisitions contributed with 3% and currency had a negative effect of 2%. Revenues were MSEK 74 049 (76 437), corresponding to a 4% organic decline.

Operating profit decreased by 15% to MSEK 13 773

(16 270). The operating margin was 18.6% (21.3). Adjusted for items affecting comparability, the margin was 19.7%

2 (19)

(21.9). There was a negative impact of changes in exchange rates for the first nine months of MSEK -290.

Profit before tax was MSEK 13 532 (16 000), corresponding to a margin of 18.3% (20.9). Profit for the period totaled MSEK 10 587 (12 212). Basic and diluted earnings per share were SEK 8.71 (10.05) and SEK 8.70 (10.04) respectively.

Operating cash flow before acquisitions, divestments and dividends totaled MSEK 12 451 (9 541).

Review of the third quarter

Market development

The overall demand for Atlas Copco's products and services improved compared to the previous quarter, both for equipment and service. However, the ongoing COVID-19 pandemic continued to have a dampening effect on the business climate.

Compared to the previous year, the service business held up well, and the order intake increased, while the demand for equipment was mixed. Order volumes for small and medium-sized compressors and industrial vacuum equipment increased, while orders for most other equipment types did not reach the previous year's level. Overall, and compared to previous year, the order intake increased in Europe and South America, but decreased in all other regions.

Geographic distribution of orders received

Atlas Copco Group

July - September 2020

Orders Received, %

Change*, %

North America

23

-8

South America

4

+4

Europe

30

+3

Africa/Middle East

5

-2

Asia/Oceania

38

-4

Atlas Copco Group

100

-3

*Change in orders received compared to the previous year in local currency.

Sales bridge

July - September

Orders

MSEK

received

Revenues

2019

27 102

26 676

Structural change, %

+3

+2

Currency, %

-8

-7

Organic*, %

-6

-2

Total, %

-11

-7

2020

24 246

24 849

*Volume, price and mix.

Orders, revenues and operating profit margin

30 000

30%

25 000

25%

20 000

20%

15 000

15%

10 000

10%

5 000

5%

0

0%

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020

Orders received, MSEK

Revenues, MSEK

Operating margin, %

Adjusted operating margin, %

Geographic distribution, orders received and revenues

July - September 2020

Compressor Technique, %

Vacuum Technique, %

Industrial Technique, %

Power Technique, %

Atlas Copco, %

Orders

Revenues

Orders

Revenues

Orders

Revenues

Orders

Revenues

Orders

Revenues

received

received

received

received

received

North America

21

21

20

22

31

31

25

30

23

24

South America

6

5

0

0

2

2

7

6

4

3

Europe

34

35

15

15

37

35

36

35

30

30

Africa/Middle East

6

7

3

2

1

2

9

8

5

5

Asia/Oceania

33

32

62

61

29

30

23

21

38

38

100

100

100

100

100

100

100

100

100

100

Resolution for a second dividend

The Board of Directors has resolved to propose a dividend of SEK 3.50 per share which will be paid for the fiscal year 2019, corresponding to a total of MSEK 4 256. Accordingly,

the Board of Directors will issue a notice to an Extraordinary General Meeting on November 26, 2020. Record date for the payment will be November 30, 2020.

Atlas Copco - Q3 2020

Revenues, profits and returns

Revenues decreased 7% to MSEK 24 849 (26 676), corresponding to an organic decline of 2%. Acquisitions added 2% while currency had a negative effect of 7%.

The operating profit was MSEK 4 760 (5 843) and

includes a MSEK -160 restructuring cost in the Industrial Technique business area, and a change in provisions for share-relatedlong-term incentive programs, reported in Common Group Items of MSEK -101(-37).

Adjusted operating profit decreased 15% to MSEK 5 021 (5 880), corresponding to a margin of 20.2% (22.0). Currency and dilution from recent acquisitions were the main explanations for the lower margin.

The net currency effect compared to the previous year was negative MSEK 660, mainly due to the weaker USD.

Net financial items were MSEK -64(-65) and interest net was MSEK -66(-90). Other financial items, including financial exchange differences, were MSEK +2 (+25). Profit before tax amounted to MSEK 4 696 (5 778), corresponding to a margin of 18.9% (21.7).

Corporate income tax amounted to MSEK -1 078 (-1 354), corresponding to an effective tax rate of 23.0% (23.4).

Profit for the period was MSEK 3 618 (4 424). Basic and diluted earnings per share were SEK 2.98 (3.64) and SEK 2.97 (3.63), respectively.

The return on capital employed during the last 12 months was 24% (32). Return on equity was 27% (39). The Group uses a weighted average cost of capital (WACC) of 8.0% as an investment and overall performance benchmark.

Operating cash flow and investments

Operating cash surplus decreased to MSEK 6 023 (6 798), due to the lower operating profit. Cash was released by a significant reduction of working capital, which decreased by MSEK 1 707 (decrease of 237). Net investments in rental equipment were MSEK -59(-336) and net investments in property, plant and equipment were

Revenues and operating profit - bridge

3 (19)

MSEK -333(-176). Previous year's net investments in property, plant and equipment included proceeds from a sale and lease back transaction in the US of approximately MSEK 200.

Operating cash flow (important internal KPI, but not an IFRS measurement, and hence defined on page 14) reached MSEK 5 143 (4 643).

Net indebtedness

The Group's net indebtedness increased to MSEK 18 662

(13 205), due to the recent acquisitions. MSEK 3 543 (3 637) of the net debt was attributable to post-employment benefits. The Group's interest-bearing liabilities have an average maturity of 5.0 years. The net debt/EBITDA ratio was 0.8 (0.5) and the net debt/equity ratio was 33% (26).

Acquisition and divestment of own shares

During the quarter, 704 575 A shares net, were sold for a net value of MSEK 289. These transactions are in accordance with mandates granted by the Annual General Meeting and relate to the Group's long-term incentive programs. See page 18.

Employees

On September 30, 2020, the number of employees was 39 759 (38 418). The number of consultants/external workforce was 2 756 (3 231). For comparable units, the total workforce decreased by 856 from September 30, 2019.

Items affecting

Volume, price,

comparability and

Share-based

MSEK

Q3 2020

mix and other

Currency

acquisitions

LTI* programs

Q3 2019

Atlas Copco Group

Revenues

24 849

-542

-1 955

670

-

26 676

Operating profit

4 760

-184

-660

-175

-64

5 843

19.2%

21.9%

*LTI= Long term incentive

Atlas Copco - Q3 2020

Atlas Copco acquires ISRA VISION

On February 10, it was announced that Atlas Copco will partner with the global machine vision specialist ISRA VISION AG through a voluntary public takeover offer. All offer conditions were fulfilled during the second quarter.

The settlement of the offer was completed on June 24, 2020 and in connection with that a payment of MSEK 9 028 (MEUR 860) was made to ISRA VISION shareholders.

Together with payments made for previous share purchases of MEUR 150, Atlas Copco has paid MSEK 10 604 (MEUR 1 010) for 92.19% of ISRA VISION. On August 3, it was announced that Atlas Copco has requested a squeeze out of minority shareholders in ISRA VISION AG.

ISRA VISION specializes in machine vision solutions with leading technologies for surface inspection and 3D vision for robot guidance, quality inspection and 3D metrology operating through two business segments, Industrial Automation and Surface Vision. The company has a global presence with operations in over 25 locations and more than 800 employees and is headquartered in Darmstadt, Germany. ISRA VISION will continue to operate under the same brand with its headquarters in Darmstadt and be a part of the Industrial Technique business area.

4 (19)

From the date of control, revenues were MSEK 420 and operating profit MSEK 10, corresponding to an operating margin of about 2%, including negative purchase price allocation effects of MSEK 50.

A preliminary purchase price allocation is outlined below.

MSEK

Intangible assets

4 100

Property, plant and equipment

200

Other assets

1 700

Cash and cash equivalents

300

Interest-bearing liabilities and borrowings

-500

Other liabilities and provisions

-1 800

Net identifiable assets

4 000

Non-controlling interests

-300

Goodwill

6 900

Total consideration

10 600

SEK / EUR 10.50 at date of acquisition.

Atlas Copco - Q3 2020

5 (19)

Compressor Technique

July - September

January - September

MSEK

2020

2019

2020

2019

Orders received

11 600

12 937

-10%

35 534

38 365

-7%

Revenues

11 890

12 314

-3%

34 883

35 685

-2%

Operating profit

2 729

2 897

-6%

7 693

8 288

-7%

- as a percentage of revenues

23.0

23.5

22.1

23.2

Return on capital employed, %

75

93

  • Sequential demand improvement
  • Year-on-yeargrowth for service but decrease for large compressors
  • Solid operating profit margin at 23%

Sales bridge

July - September

Orders

MSEK

received

Revenues

2019

12 937

12 314

Structural change, %

+0

+1

Currency, %

-8

-8

Organic*, %

-2

+4

Total, %

-10

-3

2020

11 600

11 890

*Volume, price and mix.

Industrial compressors

Compared to the previous quarter, the demand for all sizes of industrial compressors increased in most regions. Compared to the previous year, order volumes increased for small and medium-sized compressors, while the orders for large-sized compressors did not reach the previous year's high level.

Order intake was flat in Europe, while orders in all other regions decreased year-on-year.

Gas and process compressors

Order volumes for gas and process compressors increased sequentially, but decreased compared to the previous year. The negative year-on-year development was primarily

due to lower demand in North America and Asia.

Compressor service

The demand for service improved, and the order intake increased, both compared to the previous quarter and previous year.

Geographically, and compared to the previous year, order volumes increased in all regions except Europe and Asia, where the order intake was flat.

Innovation

The business area launched the CD⁺ 20 -335, the first-ever compressed air dryer with solid desiccant. With solid desiccant for compressed air treatment, developed and patented by Atlas Copco, the new product outperforms traditional dryers in several aspects. It offers lower total cost of ownership by reducing energy costs as well as providing health and environmental benefits, by better air quality, than conventional dryers.

Acquisitions

The business area completed two acquisitions in the quarter:

THN Druckluft and Produktions GmbH & Co.KG, a German distributor of compressed air and service solutions with 15 employees.

MEDGAS-Technik GmbH, a German mechanical contractor for the medical industry. The company has 80 employees and had a turnover of MSEK 126 in 2019.

Revenues and profitability

Revenues reached MSEK 11 890 (12 314), corresponding to an organic increase of 4%.

The operating profit decreased 6% to MSEK 2 729 (2 897), corresponding to a margin of 23.0% (23.5). The margin was supported by the higher volume but negatively affected by unfavorable sales mix. Return on capital employed (last 12 months) was 75% (93).

Orders, revenues and operating profit margin

15 000

30%

12 500

25%

10 000

20%

7 500

15%

5 000

10%

2 500

5%

0

0%

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020

Orders received, MSEK

Revenues, MSEK

Operating margin, %

Atlas Copco - Q3 2020

6 (19)

Vacuum Technique

July - September

January - September

MSEK

2020

2019

2020

2019

Orders received

5 736

6 486

-12%

18 575

17 624

5%

Revenues

5 928

6 107

-3%

18 622

17 010

9%

Operating profit

1 354

1 508

-10%

4 129

4 201

-2%

- as a percentage of revenues

22.8

24.7

22.2

24.7

Return on capital employed, %

19

23

  • Year-on-yeardrop in semiconductor equipment orders, despite sequential order growth
  • Positive service and industrial equipment development
  • Operating profit at 22.8% negatively affected by currency

Sales bridge

July - September

Orders

MSEK

received

Revenues

2019

6 486

6 107

Structural change, %

+0

+1

Currency, %

-6

-7

Organic*, %

-6

+3

Total, %

-12

-3

2020

5 736

5 928

*Volume, price and mix.

Semiconductor and flat panel display equipment

The demand for equipment to the semiconductor and flat panel display industry continued at a good level. Sequentially, compared to the previous quarter, order volumes increased, but the order intake did not reach the high level of Q3 2019.

Lower order volumes in Asia and North America was the main explanation for the negative year-on-year development.

Industrial and scientific vacuum equipment Order volumes for industrial and scientific vacuum equipment increased, both sequentially and compared to the previous year.

Geographically, and compared to the previous year, the order intake increased in all regions except Europe.

Vacuum service

The demand for service improved, and order volumes increased compared to the previous quarter and compared to the previous year. The year-on-year growth was primarily generated by increased demand for service from semiconductor customers.

Geographically, and compared to the previous year, the order intake increased in all regions except Europe, where order volumes were essentially unchanged.

Innovation

The turbomolecular product range was extended with two new higher performance pumps, the nEXT730 and the nEXT930. The new products are suited for a variety of different scientific and industrial vacuum applications. Customers will benefit from higher pumping speed, flexible installation, as well as intelligent monitoring, configuration, and control options.

Acquisitions

In the quarter, the business area acquired the technology and operating assets of iTrap from Zeiss Venture. iTrap is an ion trap mass spectrometer instrument for gas analysis used for diagnostics or process control in the semiconductor industry.

Revenues and profitability

Revenues reached MSEK 5 928 (6 107), corresponding to an organic increase of 3%.

The operating profit decreased 10% to MSEK 1 354 (1 508), corresponding to a margin of 22.8% (24.7). The lower margin was primarily due to negative FX changes.

Return on capital employed (last 12 months) was 19% (23).

Orders, revenues and operating profit margin

8 000

40%

7 000

35%

6 000

30%

5 000

25%

4 000

20%

3 000

15%

2 000

10%

1 000

5%

0

0%

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020

Orders received, MSEK

Revenues, MSEK

Operating margin, %

Adjusted operating margin, %

Atlas Copco - Q3 2020

7 (19)

Industrial Technique

July - September

January - September

MSEK

2020

2019

2020

2019

Orders received

4 359

4 669

-7%

12 068

14 223

-15%

Revenues

4 221

4 783

-12%

11 769

13 906

-15%

Operating profit

513

1 051

-51%

1 646

3 075

-46%

- as a percentage of revenues

12.2

22.0

14.0

22.1

Return on capital employed, %

16

36

  • Low customer demand
  • Sequential growth from low second quarter
  • Adjusted operating profit margin at 15.9%

Sales bridge

July - September

Orders

MSEK

received

Revenues

2019

4 669

4 783

Structural change, %

+14

+11

Currency, %

-6

-6

Organic*, %

-15

-17

Total, %

-7

-12

2020

4 359

4 221

*Volume, price and mix.

Motor vehicle industry

Order volumes for equipment to the motor vehicle industry increased compared to the previous quarter as previously closed production plants opened up, and investments in electrical car production increased. However, compared to the previous year, the demand was lower and the order intake decreased noticeably.

Geographically and compared to the previous year, order volumes decreased in all regions.

General industry

Compared to the previous quarter, order volumes increased to most types of customer segments, while the comparison with Q3 last year remained clearly negative, due to the generally weaker business climate.

Geographically, and compared to the previous year, the order intake decreased in all regions.

Service

The order intake increased from the level in the second quarter as customers' business activities continued to open up. In comparison to the previous year, the order intake for service decreased.

Geographically, and compared to the previous year, order volumes decreased in all regions except North America, where volumes increased.

Innovation

The business area introduced a new product that ensures optimal temperature management of batteries (Smart.Adjust). To ensure effective thermal conductivity, the new product combines visual bead inspection and industrial dispensing optimization in the application process in battery production.

Revenues and profitability

Revenues decreased to MSEK 4 221 (4 783), corresponding to an organic decline of 17%.

The operating profit decreased 51% to MSEK 513

(1 051). Adjusted for restructuring costs of MSEK -160, the margin reached 15.9% (22.0). The lower margin was primarily due to the large revenue drop and recent acquisitions. Return on capital employed (last 12 months) was 16% (36).

Orders, revenues and operating profit margin

5 000

40%

4 000

32%

3 000

24%

2 000

16%

1 000

8%

0

0%

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020

Orders received, MSEK

Revenues, MSEK

Operating margin, %

Adjusted operating margin, %

Atlas Copco - Q3 2020

8 (19)

Power Technique

July - September

January - September

MSEK

2020

2019

2020

2019

Orders received

2 674

3 224

-17%

8 897

10 806

-18%

Revenues

2 932

3 697

-21%

9 187

10 429

-12%

Operating profit

410

606

-32%

1 169

1 749

-33%

- as a percentage of revenues

14.0

16.4

12.7

16.8

Return on capital employed, %

19

29

  • Customer demand remained below previous year
  • Order intake up compared to low second quarter
  • Operating margin at 14.0%

Sales bridge

July - September

Orders

MSEK

received

Revenues

2019

3 224

3 697

Structural change, %

+0

+0

Currency, %

-8

-8

Organic*, %

-9

-13

Total, %

-17

-21

2020

2 674

2 932

*Volume, price and mix.

Equipment

The demand for portable compressors, generators and pumps improved sequentially, and the order intake increased compared to the previous quarter. The customer demand remained below previous year, and order intake decreased for most equipment types.

Geographically, and compared to the previous year, the order intake decreased in Asia, but increased in Europe and North America.

Specialty rental

Order volumes for the specialty rental business increased compared to the previous quarter, but the order intake remained well below previous year's high level.

Year-on-year, the order intake decreased in all regions except South America.

Service

Customer demand for service grew sequentially and the order intake increased compared to the previous quarter. Compared to the previous year, order intake decreased in all regions.

Innovation

A new light tower for use in tough environments, the HiLight H6+, was introduced. Thanks to innovative design, the new light tower offers the lowest noise level in the market. The product also provides low operational cost and low CO2 footprint due to a new generation of LED lights and a dimming function that ensures the right luminosity at each moment.

Revenues and profitability

Revenues decreased to MSEK 2 932 (3 697), corresponding to an organic decline of 13%.

The operating profit decreased 32% to MSEK 410 (606), corresponding to a margin of 14.0% (16.4), negatively affected by lower revenue volumes and sales mix.

Return on capital employed (last 12 months) was 19%

(29).

Orders, revenues and operating profit margin

5 000

40%

4 000

32%

3 000

24%

2 000

16%

1 000

8%

0

0%

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020

Orders received, MSEK

Revenues, MSEK

Operating margin, %

Adjusted operating margin, %

Atlas Copco - Q3 2020

Accounting principles

The consolidated accounts of the Atlas Copco Group are prepared in accordance with International Financial Reporting Standards (IFRS). The description of the accounting principles and definitions applied in this report are found in the Annual Report 2019. The interim report is prepared in accordance with IAS 34 Interim Financial Reporting. Non-IFRS measures are also presented in the report since they are considered to be important supplemental measures of the company´s performance. For further information about these measures and how they have been calculated, please visit: http://www.atlascopcogroup.com/investor-relations

Risks, risk management and factors of uncertainty

Atlas Copco's global and diversified business is active within many customer segments and results in a variety of risks and opportunities geographically and operationally. Thus, the ability to identify, analyze and manage risks is crucial for effective governance and control of the business. The aim is to meet the Group's goals with a high awareness of risks and well-managed risk taking. Atlas Copco sees the benefits of an efficient risk management both from risk reduction and business opportunity perspectives, which can lead to good business growth.

Risks in Atlas Copco are identified in a 360 degree spectrum, meaning that both internal, and external exposures are assessed including todays circumstances and future changes. The Group's risk management approach follows the decentralized structure of Atlas Copco. Risks are analyzed and addressed in an integrated way. Local companies are responsible for their own risk management, which is monitored and followed up regularly at for example local business board meetings. Group functions responsible for legal, insurance, human resources, compliance, sustainability, treasury, tax, controlling and accounting provide policies, guidelines and instructions regarding risk management.

Risk areas include compliance risks, external exposure risks, operational risks and strategic risks. These risk areas can impact the business negatively both in the long and short term, but often also create business opportunities if managed well. Examples of risks and how they are handled is described below.

Market risks

The demand for Atlas Copco's equipment and services is affected by changes in the customers' investment and production levels. A general economic downturn, geopolitical tensions, pandemics, changes in trade agreements, trade sanctions, a widespread financial crisis and other macroeconomic disturbances may, directly or indirectly, affect the Group negatively both in terms of revenues and profitability. However, the Group's sales are well diversified with customers in many industries and countries around the world, which mitigates the risk.

Financial risks

Atlas Copco is subject to currency risks, funding risks, interest rate risks, tax risks, and other financial risks. In line with the overall goals with respect to growth, return on capital, and protecting creditors, Atlas Copco has adopted a policy to control the financial risks to which the Group is exposed. A financial risk management

9 (19)

committee meets regularly to manage and follow up financial risks, in line with the policy.

Production risks

A large part of the components used in production are sourced from sub-suppliers. The availability is dependent on the sub- suppliers and if they have interruptions or lack capacity, this may adversely affect production. To minimize these risks, Atlas Copco has established a global network of sub-suppliers, which means that in most cases there are more than one sub-supplier that can provide a certain component. Atlas Copco is also directly and indirectly exposed to raw material prices. Cost increases for raw materials and components often coincide with strong end- customer demand and can partly be compensated for by increased sales prices.

Acquisitions

Atlas Copco has the ambition to grow all its business areas, primarily through organic growth, complemented by selected acquisitions. The integration of acquired businesses is a difficult process and it is not certain that every integration will be successful. Therefore, costs related to acquisitions can be higher and/or synergies can take longer to materialize than anticipated.

Risks related to COVID-19

The COVID-19 pandemic has had a significant effect on the global economy and the demand for the Group's products and services in the third quarter, described at previous pages in this report.

With the high uncertainty surrounding the situation and potential initiatives by authorities and customers, it is very difficult to predict the full financial impact that the situation may have on the Group for the coming quarters.

As of September 30, 2020, there is no significant impact on any balance sheet items.

For more information of Atlas Copco's risk management process and further descriptions of risks and how they are handled, see the Annual Report 2019.

Forward-looking statements

Some statements in this report are forward-looking, and the actual outcome could be materially different. In addition to the factors explicitly discussed, other factors could have a material effect on the actual outcome. Such factors include, but are not limited to, general business conditions, fluctuations in exchange rates and interest rates, political developments, the impact of competing products and their pricing, product development, commercialization and technological difficulties, interruptions in supply, and major customer credit losses.

Atlas Copco AB

Atlas Copco AB and its subsidiaries are sometimes referred to as the Atlas Copco Group, the Group or Atlas Copco. Atlas Copco AB is also sometimes referred to as Atlas Copco. Any mentioning of the Board of Directors, the Board or the Directors refers to the Board of Directors of Atlas Copco AB.

Atlas Copco - Q3 2020

10 (19)

Consolidated income statement (condensed)

3 months ended

9 months ended

Sep. 30

Sep. 30

Sep. 30

Sep. 30

MSEK

2020

2019

2020

2019

Revenues

24 849

26 676

74 049

76 437

Cost of sales

-14 681

-15 348

-43 623

-43 490

Gross profit

10 168

11 328

30 426

32 947

Marketing expenses

-2 792

-3 040

-8 525

-8 985

Administrative expenses

-1 582

-1 695

-4 934

-5 267

Research and development costs

-938

-933

-2 845

-2 674

Other operating income and expenses

-96

183

-349

249

Operating profit

4 760

5 843

13 773

16 270

- as a percentage of revenues

19.2

21.9

18.6

21.3

Net financial items

-64

-65

-241

-270

Profit before tax

4 696

5 778

13 532

16 000

- as a percentage of revenues

18.9

21.7

18.3

20.9

Income tax expense

-1 078

-1 354

-2 945

-3 788

Profit for the period

3 618

4 424

10 587

12 212

Profit attributable to

- owners of the parent

3 618

4 418

10 583

12 196

- non-controlling interests

-

6

4

16

Basic earnings per share, SEK

2.98

3.64

8.71

10.05

Diluted earnings per share, SEK

2.97

3.63

8.70

10.04

Basic weighted average number

of shares outstanding, millions

1 215.5

1 215.4

1 215.2

1 213.9

Diluted weighted average number

of shares outstanding, millions

1 216.4

1 216.2

1 216.1

1 214.9

Key ratios

Equity per share, period end, SEK

47

42

Return on capital employed, 12 month values, %

24

32

Return on equity, 12 month values, %

27

39

Debt/equity ratio, period end, %

33

26

Equity/assets ratio, period end, %

48

44

Number of employees, period end

39 759

38 418

Atlas Copco - Q3 2020

11 (19)

Consolidated statement of comprehensive income

3 months ended

9 months ended

Sep. 30

Sep. 30

Sep. 30

Sep. 30

MSEK

2020

2019

2020

2019

Profit for the period

3 618

4 424

10 587

12 212

Other comprehensive income

Items that will not be reclassified to profit or loss

Remeasurements of defined benefit pension plans

-23

-357

284

-555

Income tax relating to items that will not be reclassified

29

83

-55

162

6

-274

229

-393

Items that may be reclassified subsequently to profit or loss

Translation differences on foreign operations

-1 323

1 964

-2 337

3 540

Hedge of net investments in foreign operations

-96

-299

-197

-746

Cash flow hedges

60

-15

-22

-21

Income tax relating to items that may be reclassified

20

92

67

227

-1 339

1 742

-2 489

3 000

Other comprehensive income for the period, net of tax

-1 333

1 468

-2 260

2 607

Total comprehensive income for the period

2 285

5 892

8 327

14 819

Total comprehensive income attributable to

- owners of the parent

2 284

5 884

8 324

14 799

- non-controlling interests

1

8

3

20

Atlas Copco - Q3 2020

12 (19)

Consolidated balance sheet (condensed)

MSEK

Sep. 30, 2020

Sep. 30, 2019

Dec. 31, 2019

Intangible assets

48 795

37 956

36 549

Rental equipment

2 487

2 889

2 883

Other property, plant and equipment

11 642

11 853

11 553

Financial assets and other receivables

1 807

1 972

1 795

Deferred tax assets

1 640

2 051

1 449

Total non-current assets

66 371

56 721

54 229

Inventories

14 704

15 446

14 501

Trade and other receivables

27 464

28 504

27 861

Other financial assets

138

213

125

Cash and cash equivalents

10 251

13 645

15 005

Assets classified as held for sale

5

1

1

Total current assets

52 562

57 809

57 493

TOTAL ASSETS

118 933

114 530

111 722

Equity attributable to owners of the parent

56 734

50 525

53 231

Non-controlling interests

339

57

59

TOTAL EQUITY

57 073

50 582

53 290

Borrowings

22 659

20 838

20 400

Post-employment benefits

3 543

3 637

3 488

Other liabilities and provisions

1 478

1 304

1 410

Deferred tax liabilities

1 949

794

702

Total non-current liabilities

29 629

26 573

26 000

Borrowings

2 849

2 588

3 255

Trade payables and other liabilities

27 447

32 927

27 564

Provisions

1 935

1 860

1 613

Total current liabilities

32 231

37 375

32 432

TOTAL EQUITY AND LIABILITIES

118 933

114 530

111 722

Fair value of derivatives, cash equivalents and borrowings

The carrying value and fair value of the Group's outstanding derivatives, liquidity funds and borrowings are shown in the tables below. The fair values of bonds are based on level 1 and the fair values of derivatives, liquidity funds and other loans are based on level 2 in the fair value hierarchy. Compared to 2019, no transfers have been made between different levels in the fair value hierarchy for derivatives and borrowings and no significant changes have been made to valuation techniques, inputs or assumptions. Liquidity funds, reported under cash equivalents, are according to IFRS 9 classified at fair value through profit and loss. For further information, see note 27 in the Annual Report 2019. (http://www.atlascopco.com/ir)

Financial instruments recorded at fair value

MSEK

Sep. 30, 2020

Dec. 31, 2019

Current assets and liabilities

Assets

314

561

Liabilities

173

19

Carrying value and fair value of borrowings

MSEK

Sep. 30, 2020

Sep. 30, 2020

Dec. 31, 2019

Dec. 31, 2019

Carrying value

Fair value

Carrying value

Fair value

Bonds

13 688

14 257

13 524

14 057

Other loans

8 232

8 360

6 488

6 555

Lease liability

3 588

3 588

3 643

3 643

25 508

26 205

23 655

24 255

Atlas Copco - Q3 2020

13 (19)

Consolidated statement of changes in equity (condensed)

Equity attributable to

owners of

non-controlling

MSEK

the parent

interests

Total equity

Opening balance, January 1, 2020

53 231

59

53 290

Changes in equity for the period

Total comprehensive income for the period

8 324

3

8 327

Dividend

-4 250

-

-4 250

Change of non-controlling interests

-157

277

120

Acquisition and divestment of own shares

-388

-

-388

Share-based payments, equity settled

-26

-

-26

Closing balance, September 30, 2020

56 734

339

57 073

Equity attributable to

owners of

non-controlling

MSEK

the parent

interests

Total equity

Opening balance, January 1, 2019

42 425

47

42 472

Changes in equity for the period

Total comprehensive income for the period

14 799

20

14 819

Dividend

-7 651

-10

-7 661

Acquisition and divestment of own shares

1 110

-

1 110

Share-based payments, equity settled

-158

-

-158

Closing balance, September 30, 2019

50 525

57

50 582

Atlas Copco - Q3 2020

14 (19)

Consolidated statement of cash flows (condensed)

July - September

January - September

MSEK

2020

2019

2020

2019

Cash flows from operating activities

Operating profit

4 760

5 843

13 773

16 270

Depreciation, amortization and impairment (see below)

1 300

1 240

3 877

3 452

Capital gain/loss and other non-cash items

-37

-285

573

290

Operating cash surplus

6 023

6 798

18 223

20 012

Net financial items received/paid

310

-60

68

-638

Taxes paid

-1 729

-1 510

-3 905

-4 346

Pension funding and payment of pension to employees

-78

-103

-236

-264

Change in working capital

1 707

237

984

-3 170

Investments in rental equipment

-76

-350

-390

-853

Sale of rental equipment

17

14

63

33

Net cash from operating activities

6 174

5 026

14 807

10 774

Cash flows from investing activities

Investments in property, plant and equipment

-344

-393

-1 077

-1 122

Sale of property, plant and equipment

11

217

*

30

266

Investments in intangible assets

-360

-240

-964

-734

Sale of intangible assets

-

-

-

1

Acquisition of subsidiaries and associated companies

-123

-6 525

-12 921 **

-7 527

Other investments, net

-2

11

26

-17

Net cash from investing activities

-818

-6 930

-14 906

-9 133

Cash flows from financing activities

Annual dividends paid

-

-

-4 250

-3 820

Dividends paid to non-controlling interest

-

-10

-

-10

Acquisition of non-controlling interest

-34

-

-216

-

Repurchase and sales of own shares

289

535

-388

1 110

Change in interest-bearing liabilities, net

-551

3 071

304

-2 162

Net cash from financing activities

-296

3 596

-4 550

-4 882

Net cash flow for the period

5 060

1 692

-4 649

-3 241

Cash and cash equivalents, beginning of the period

5 277

11 720

15 005

16 414

Exchange differences in cash and cash equivalents

-86

233

-105

472

Cash and cash equivalents, end of the period

10 251

13 645

10 251

13 645

* Includes MSEK 200 from a sale and lease back of property in the US.

**Includes approximately MSEK 1 600 in Q1 and appoximately MSEK 8 700 in Q2 related to the acquisition of ISRA VISION.

Depreciation, amortization and impairment

Rental equipment

180

191

566

533

Other property, plant and equipment

317

340

984

972

Right-of-use assets

279

265

873

754

Intangible assets

524

444

1 454

1 193

Total

1 300

1 240

3 877

3 452

Calculation of operating cash flow

July - September

January - September

MSEK

2020

2019

2020

2019

Net cash flow for the period

5 060

1 692

-4 649

-3 241

Add back:

Change in interest-bearing liabilities, net

551

-3 071

-304

2 162

Repurchase and sales of own shares

-289

-535

388

-1 110

Annual dividends paid

-

-

4 250

3 820

Dividends paid to non-controlling interest

-

10

-

10

Acquisition of non-controlling interest

34

-

216

-

Acquisitions and divestments

123

6 525

12 921

7 527

Currency hedges

-336

22

-371

373

Operating cash flow

5 143

4 643

12 451

9 541

Atlas Copco - Q3 2020

15 (19)

Revenues by business area

2018

2019

2020

MSEK (by quarter)

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Compressor Technique

9 735

11 266

11 269

11 702

11 397

11 974

12 314

12 601

11 588

11 405

11 890

- of which external

9 578

11 121

11 156

11 593

11 241

11 832

12 146

12 502

11 470

11 322

11 806

- of which internal

157

145

113

109

156

142

168

99

118

83

84

Vacuum Technique

5 255

5 740

5 272

5 740

5 253

5 650

6 107

6 560

6 159

6 535

5 928

- of which external

5 255

5 740

5 272

5 740

5 253

5 650

6 107

6 560

6 154

6 535

5 925

- of which internal

0

0

0

0

0

0

0

0

5

0

3

Industrial Technique

4 178

4 519

4 365

4 871

4 547

4 576

4 783

4 806

4 193

3 355

4 221

- of which external

4 163

4 504

4 354

4 863

4 538

4 567

4 774

4 799

4 180

3 347

4 215

- of which internal

15

15

11

8

9

9

9

7

13

8

6

Power Technique

2 894

3 091

2 911

3 146

3 177

3 555

3 697

3 486

3 325

2 930

2 932

- of which external

2 756

2 980

2 893

3 126

3 149

3 531

3 649

3 458

3 294

2 898

2 903

- of which internal

138

111

18

20

28

24

48

28

31

32

29

Common Group Items /

Eliminations

-156

-155

-142

-138

-193

-175

-225

-134

-167

-123

-122

Atlas Copco Group

21 906

24 461

23 675

25 321

24 181

25 580

26 676

27 319

25 098

24 102

24 849

Operating profit by business area

2018

2019

2020

MSEK (by quarter)

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Compressor Technique

2 249

2 638

2 667

2 709

2 618

2 773

2 897

2 910

2 520

2 444

2 729

- as a percentage of revenues

23.1

23.4

23.7

23.1

23.0

23.2

23.5

23.1

21.7

21.4

23.0

Vacuum Technique

1 292

1 479

1 315

1 436

1 292

1 401

1 508

1 591

1 497

1 278

1 354

- as a percentage of revenues

24.6

25.8

24.9

25.0

24.6

24.8

24.7

24.3

24.3

19.6

22.8

Industrial Technique

974

1 056

1 018

1 140

1 008

1 016

1 051

994

799

334

513

- as a percentage of revenues

23.3

23.4

23.3

23.4

22.2

22.2

22.0

20.7

19.1

10.0

12.2

Power Technique

547

464

480

515

524

619

606

559

473

286

410

- as a percentage of revenues

18.9

15.0

16.5

16.4

16.5

17.4

16.4

16.0

14.2

9.8

14.0

Common Group Items /

Eliminations

-229

-207

-217

-139

-394

-430

-219

-427

-165

-453

-246

Operating profit

4 833

5 430

5 263

5 661

5 048

5 379

5 843

5 627

5 124

3 889

4 760

- as a percentage of revenues

22.1

22.2

22.2

22.4

20.9

21.0

21.9

20.6

20.4

16.1

19.2

Net financial items

-320

-201

-95

273

-141

-64

-65

-55

-114

-63

-64

Profit before tax

4 513

5 229

5 168

5 934

4 907

5 315

5 778

5 572

5 010

3 826

4 696

- as a percentage of revenues

20.6

21.4

21.8

23.4

20.3

20.8

21.7

20.4

20.0

15.9

18.9

Return on capital employed by business area, %

2018

2019

2020

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Compressor Technique

94

99

103

107

105

100

93

87

80

76

75

Vacuum Technique

26

28

27

27

26

25

23

22

22

20

19

Industrial Technique

44

44

39

40

39

37

36

35

31

23

16

Power Technique

21

18

25

28

30

30

29

28

25

21

19

Atlas Copco Group

39

31

32

33

33

33

32

30

29

26

24

Atlas Copco - Q3 2020

16 (19)

Acquisitions and divestments

Revenues

Number of

Date

Acquisitions

Divestments

Business area

MSEK*

employees*

2020 Sep. 2

MEDGAS-Technik GmbH

Compressor Technique

126

80

2020 Aug. 4

iTrap (the technology and operating assets)

Vacuum Technique

4

2020 Aug. 4

THN Druckluft and Produktions GmbH & Co.KG

Compressor Technique

15

2020 Jun. 24

ISRA VISION AG

Industrial Technique

1 619

800

2020 Jun. 5

Ovity Air Comprimé

Compressor Technique

8

2020 Feb. 28

Dekker Vacuum Technologies Inc

Vacuum Technique

217

70

2020 Feb. 27

Dr. Gustav Gail Drucklufttechnik GmbH

Compressor Technique

10

2020 Jan. 22

M.C. Schroeder Equipment Co., Inc.

Vacuum Technique

8

2020 Jan. 16

Hydra Flow West

Compressor Technique

7

2020 Jan. 3

Scheugenpflug AG

Industrial Technique

850

600

2019 Nov. 6

WestRon

Compressor Technique

26

2019 Oct. 18

Accurate Air Engineering and Compressed Air

Compressor Technique

52

of California

2019 Jul . 2

MGES Inc.

Compressor Technique

48

11

2019 Jul . 2

Eurochiller S.r.l .

Compressor Technique

267

90

2019 Jul . 1

Brooks' Semiconductor Cryogenics Business

Vacuum Technique

1 400

400

2019 Jun. 19

Powerhouse Equipment & Engineering Co. Inc.

Power Technique

347

95

2019 Jun. 17

Taylor Air Center

Compressor Technique

20

2019 May 29

AirCenterSüd GmbH & Co. KG

Compressor Technique

6

2019 May 27

Air Compresseur service

Compressor Technique

10

2019 May 3

Bold & Cichos GbR

Compressor Technique

15

2019 May 2

Mid South Engine & Power Systems

Power Technique

54

28

2019 Apr. 9

PSI Compressors

Compressor Technique

6

2019 Apr. 3

Jacob Drucklufttechnik Vertriebs GmbH

Compressor Technique

10

2019 Apr. 2

Air Diffusion

Compressor Technique

15

2019 Mar. 19

Class 1 Incorporated

Compressor Technique

130

50

2019 Mar. 6

Woodward Compressor Sales

Compressor Technique

15

2019 Mar. 1

Appleton

Compressor Technique

15

2019 Jan. 4

Industrie Pumpen Vertriebs GmbH

Power Technique

50

20

*Annual revenues and number of employees at time of acquisition/divestment. No revenues are disclosed for former Atlas Copco distributors. Due to the relatively small size of most of the acquisitions made in 2020, full disclosure as per IFRS 3 is not given in this interim report. Disclosure will be given in the annual report 2020. More detailed information about ISRA VISION can be found on page 4 in this report.

See the annual report for 2019 for disclosure of acquisitions made in 2019.

Atlas Copco - Q3 2020

17 (19)

Parent company

Income statement (condensed)

July - September January - September

MSEK

2020

2019

2020

2019

Administrative expenses

-122

-124

-477

-521

Other operating income and expenses

21

24

51

75

Operating profit/loss

-101

-100

-426

-446

Financial income and expenses

221

-77

1 581

9 891

Profit/loss before tax

120

-177

1 155

9 445

Income tax

39

97

112

385

Profit/loss for the period

159

-80

1 267

9 830

Balance sheet (condensed)

Sep. 30

Sep. 30

Dec. 31

MSEK

2020

2019

2019

Total non-current assets

162 295

158 880

158 584

Total current assets

10 371

17 722

16 339

TOTAL ASSETS

172 666

176 602

174 923

Total restricted equity

5 785

5 785

5 785

Total non-restricted equity

140 819

142 652

144 215

TOTAL EQUITY

146 604

148 437

150 000

Total provisions

666

522

624

Total non-current liabilities

23 110

18 889

18 888

Total current liabilities

2 286

8 754

5 411

TOTAL EQUITY AND LIABILITIES

172 666

176 602

174 923

Assets pledged and contingent liabilities

Sep. 30

Sep. 30

Dec. 31

MSEK

2020

2019

2019

Assets pledged

185

197

190

Contingent liabilities

11 902

12 047

11 721

Accounting principles

Atlas Copco AB is the ultimate Parent Company of the Atlas Copco Group. The financial statements of Atlas Copco AB have been prepared in accordance with the Swedish Annual Accounts Act and the accounting standard RFR 2, Accounting for Legal Entities. The same accounting principles and methods of computation are followed in the interim financial statements as compared with the most recent annual financial statements. See also accounting principles, page 9.

Atlas Copco - Q3 2020

Parent Company

Distribution of shares

Share capital equaled MSEK 786 (786) at the end of the period, distributed as follows:

Class of share

Shares

A shares

839 394 096

B shares

390 219 008

Total

1 229 613 104

- of which A shares

held by Atlas Copco

13 676 587

- of which B shares

held by Atlas Copco

8 899

Total shares outstanding, net of

shares held by Atlas Copco

1 215 927 618

Performance-based personnel option plan The Annual General Meeting 2020 approved a performance-based long-termincentive program. For Group Management and division presidents, the plan requires management's own investment in Atlas Copco shares. The intention is to cover Atlas Copco's obligation under the plan through the repurchase of the company's own shares. For further information, see www.atlascopcogroup.com/agm

Transactions in own shares

Atlas Copco has mandates to acquire and sell own shares as per below:

  • Acquisition of not more than 3 350 000 series A shares, whereof a maximum of 2 700 000 may be transferred to personnel stock option holders under the performance-based stock option plan 2020.
  • Acquisition of not more than 15 000 series A shares to hedge the obligation of the company to pay remuneration to board members who have chosen to receive 50% of the remuneration in synthetic shares.

18 (19)

  • The sale of not more than 10 000 series A shares to cover costs related to previously issued synthetic shares to board members.
  • The sale of a maximum 7 000 000 series A and B shares currently held by the company, for the purpose of covering costs of fulfilling obligations related to the option plans 2015, 2016 and 2017.
  • The shares may only be acquired or sold on NASDAQ Stockholm at a price within the registered price interval at any given time.

During the first nine months 2020, 1 118 646 series A shares, net, were acquired. These transactions are in accordance with mandates granted. The company's holding of own shares at the end of the period appears in the table to the left.

Risks and factors of uncertainty

Financial risks

Atlas Copco AB is subject to currency risks, funding risks, interest rate risks, tax risks, and other financial risks. In line with the overall goals with respect to growth, return on capital, and protecting creditors, Atlas Copco has adopted a policy to control the financial risks to which Atlas Copco AB and the Group is exposed. A financial risk management committee meets regularly to manage and follow up financial risks, in line with the policy.

For further information, see the 2019 annual report.

Related parties

There have been no significant changes in the relationships or transactions with related parties for the Group or Parent Company compared with the information given in the annual report 2019.

Nacka, Sweden October 22, 2020

Atlas Copco AB (publ)

Mats Rahmström

President and CEO

The company's auditors have not reviewed this report.

Atlas Copco - Q3 2020

This is Atlas Copco

Atlas Copco Group is a world-leading provider of sustainable productivity solutions. The Group offers customers innovative compressors, air treatment systems, vacuum solutions, industrial power tools and assembly systems, and power and flow solutions. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics.

The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2019, Atlas Copco had revenues of BSEK 104 (BEUR 10) and at year end about 39 000 employees.

Business areas

Atlas Copco has four business areas. The business areas are responsible for developing their respective operations by implementing and following up on strategies and objectives to achieve sustainable, profitable growth.

The Compressor Technique business area provides compressed air solutions; industrial compressors, gas and process compressors and expanders, air and gas treatment equipment and air management systems. The business area has a global service network and innovates for sustainable productivity in the manufacturing, and process industries. Principal product development and manufacturing units are located in Belgium, the United States, China, India, Germany and Italy.

The Vacuum Technique business area provides vacuum products, exhaust management systems, valves and related products. The main markets served are semiconductor and scientific as well as a wide range of industrial segments including chemical process industries, food packaging and paper handling. The business area has a global service network and innovates for sustainable productivity in order to further improve its customers' performance. Principal product development and manufacturing units are located in the United States, Mexico, United Kingdom, Czech Republic, Germany, South Korea, China and Japan.

The Industrial Technique business area provides, through a global network, industrial power tools and assembly solutions, including tightening, bolting, riveting, adhesive dispensing, quality assurance products, material removal, software and service. The business area innovates for sustainable productivity for customers in the automotive and general industries, maintenance and vehicle service. Principal product development and manufacturing units are located in Sweden, Germany, United States, United Kingdom, France, Japan and Hungary.

The Power Technique business area provides air, power and flow solutions through products such as mobile compressors, pumps, light towers and generators, along with a number of complementary products. It also offers specialty rental and provides services through a dedicated, global network. Guided by a forward-thinking approach to innovation, Power Technique provides sustainable productivity solutions across multiple industries, including construction, manufacturing, oil and gas, and exploration drilling. Principal product development and manufacturing units are located in Belgium, Spain, the United States, China and India.

19 (19)

Vision, mission and strategy

The Atlas Copco Group's vision is to become and remain First in Mind-First in Choice of its customers and other principal stakeholders. The mission is to achieve sustainable, profitable growth. Sustainability plays an important role in Atlas Copco's vision and it is an integral aspect of the Group's mission. An integrated sustainability strategy, backed by ambitious goals, helps the company deliver greater value to all its stakeholders in a way that is economically, environmentally and socially responsible.

For further information

  • Analysts and investors
    Daniel Althoff, Vice President Investor Relations Phone: +46 8 743 95 97 or +46 768 99 95 97 ir@atlascopco.com
  • Media
    Sara Liljedal, Media Relations Manager Phone: +46 8 743 80 60 or +46 72 144 10 38 media@atlascopco.com

Conference call

A presentation for investors, analysts and media will be held on October 22, 2020 at 11.00 AM CEST.

The dial-in numbers are:

Sweden:

+ 46 8 50 55 83 66

  • United Kingdom: + 44 33 33 00 92 66

United States:

+ 1 83 32 49 84 07

The conference call will be broadcasted live on the web. Please see our website http://www.atlascopcogroup.com/investor-relationsfor the webcast link and presentation material.

Fourth-quarter report 2020

The Q4 2020 report will be published on January 29, 2021. (Silent period starts December 30, 2020)

First-quarter report 2021

The Q1 2021 report will be published on April 27, 2021. (Silent period starts March 28, 2021)

Annual General Meeting 2021

The Annual General Meeting for Atlas Copco AB will be held April 27, 2021 at 4 PM CEST.

Capital Markets Day 2021

Atlas Copco will host its next Capital Markets Day on May 27, 2021 in Antwerp, Belgium.

Second-quarter report 2021

The Q2 2021 report will be published on July 16, 2021. (Silent period starts June 16, 2021)

Third-quarter report 2021

The Q3 2021 report will be published on October 21, 2021. (Silent period starts September 21, 2021)

This information is information that Atlas Copco AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above, at 08:30 CEST on October 22, 2020.

Disclaimer

Atlas Copco AB published this content on 22 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 October 2020 07:29:10 UTC


© Publicnow 2020
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Financials
Sales 2020 99 782 M 11 699 M 11 699 M
Net income 2020 14 490 M 1 699 M 1 699 M
Net Debt 2020 14 756 M 1 730 M 1 730 M
P/E ratio 2020 36,7x
Yield 2020 1,62%
Capitalization 514 B 59 982 M 60 273 M
EV / Sales 2020 5,30x
EV / Sales 2021 4,95x
Nbr of Employees 39 759
Free-Float 81,9%
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Technical analysis trends ATLAS COPCO AB
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Average target price 389,78 SEK
Last Close Price 440,90 SEK
Spread / Highest target 8,87%
Spread / Average Target -11,6%
Spread / Lowest Target -32,0%
EPS Revisions
Managers
NameTitle
Mats Rahmström President, Chief Executive Officer & Director
Hans Torgny Stråberg Chairman
Hans-Ola Meyer Chief Financial Officer, SVP-Controlling & Finance
Johan Patrik Lennart Forssell Independent Director
Mikael Bergstedt Director
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