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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: Third quarter of 2020 sequential improvement but below previous year

10/26/2020 | 08:01am EST

Nacka, Sweden - Mats Rahmstrom, President and CEO of the Atlas Copco Group, comments on the results for the third quarter of 2020 that were released today.

'We see our results as proof of our set-up being sustainable, over time and in periods of turmoil', said Mats Rahmstrom. 'The core of our culture is a constant focus on creating long-term value for our customers. Combined with the speed and agility coming from our decentralized organization it has proven to be an advantage in an environment where change has become constant'.

All Business Areas saw an increased demand compared to the second quarter although the effects of the ongoing COVID-19 pandemic continued to have an impact on the business climate.

Orders received in the third quarter were MSEK 24 246 (27 102), an organic decline of 6%. Revenues reached MSEK 24 849 (26 676), an 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). The return on capital employed was 24% (32), affected negatively by recent acquisitions.

'Understanding our customers' challenges, supporting their productivity and giving them peace of mind through our service solutions is just as important now as a year ago', said Mats Rahmstrom. 'We have adjusted capacity and costs where needed and have succeeded in keeping a healthy profitability despite the effects of the COVID-19 pandemic. Looking ahead, we have the financial stability to secure our long-term competitiveness through acquisitions, investing in digital solutions and broadening our offer to customers through innovation'.

In the near-term, 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.

For more information please contact:

Daniel Althoff, Vice President Investor Relations

+46 8 743 9597 or +46 76 899 9597

ir@atlascopco.com

Sara Liljedal, Media Relations Manager

+46 8 743 8060 or +46 72 144 1038

media@atlascopco.com

Atlas Copco Group

Great ideas accelerate innovation. At Atlas Copco we have been turning industrial ideas into business-critical benefits since 1873. By listening to our customers and knowing their needs, we deliver value and innovate with the future in mind.

In 2019, Atlas Copco had revenues of BSEK104 (BEUR 10) and at year end about 39 000 employees.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 99 782 M 11 649 M 11 649 M
Net income 2020 14 490 M 1 692 M 1 692 M
Net Debt 2020 14 756 M 1 723 M 1 723 M
P/E ratio 2020 36,0x
Yield 2020 1,65%
Capitalization 505 B 58 938 M 58 914 M
EV / Sales 2020 5,21x
EV / Sales 2021 4,86x
Nbr of Employees 39 759
Free-Float 81,9%
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Technical analysis trends ATLAS COPCO AB
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 25
Average target price 389,78 SEK
Last Close Price 432,20 SEK
Spread / Highest target 11,1%
Spread / Average Target -9,81%
Spread / Lowest Target -30,6%
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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