Atlas Copco posted record full-year revenues of SEK90.5 billion (about U.S. $14.2 billion) for 2012, reporting solid operating profit, revenue and orders received for the fourth quarter 2012 in spite of softening equipment demand in many markets and customer segments.
Fourth-quarter revenues increased 4 percent organically year over year to SEK 22.7 billion (about U.S. 3.6 billion) from SEK 22.3 billion in 2011. Operating profit was SEK 4.7 billion (U.S. $737.3 million) from SEK 4.6 billion a year ago. Compared to the most recent quarters, demand for equipment declined somewhat while demand for services remained on a good level.
“A good quarter ended a record year,” said Ronnie Leten, president and CEO of the Atlas Copco Group. “We continue to perform well despite the mixed market conditions, which is the result of the strength and flexibility built into the Atlas Copco organization.
“In the near term, the overall demand for Atlas Copco’s products and services is expected to decrease somewhat. The uncertainty is still high and further capacity adjustments may be needed. At the same time, we continue to invest in many areas to safeguard a sustainable profitable growth also in the future.”
Headquartered in Stockholm, Sweden, Atlas Copco produces compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems.