Atlas Copco last week reported that revenues in the first quarter of 2012 grew 17 percent to SEK 22.25 billion (about U.S. $3.31 billion) from SEK 18.22 billion (U.S. $2.71 billion) in the same period last year on continued strong order growth. Operating profit increased 15 percent to SEK 4.60 billion (U.S. $685.4 million) from SEK 3.98 billion (U.S. $593.5 million) in first-quarter 2011. The company said near-term demand is expected to remain at the current high level.
“We achieved good growth despite the mixed market conditions and are very pleased with the development and value creation in the Group,” said Ronnie Leten, president and CEO of the Group. “We strengthened our presence further during the quarter and will continue our efforts to increase market penetration.”
Orders received in the first quarter increased 10 percent organically to SEK 24.83 billion (U.S. $3.70 billion).
Atlas Copco recently established new customer centers in Mozambique and Senegal, meaning the Group now has operations in 89 countries. During the first quarter, six acquisitions were completed.
“We have done a lot to create our own opportunities for growth,” Leten said. “The recent acquisitions have broadened our offering and in the past year alone, we introduced hundreds of new products. This is improving customer efficiency, driving demand and supporting Atlas Copco’s continued strong development.”
Based in Stockholm, Sweden, Atlas Copco is a maker of compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems.