STOCKHOLM, Sweden — Atlas Copco, a supplier of sustainable productivity solutions, reported solid results for the second quarter on Thursday, including a record operating profit. The service business continued to grow and the order intake in Europe improved. The overall demand for the Group is expected to increase somewhat in the near term.
Orders received in the second quarter rose 12 percent year-over-year to $3.13 billion, with strong impact from currency. Europe achieved a 10 percent order increase in local currencies and had the best organic growth in several years. Globally, orders year-on-year were flat organically while revenues decreased 3 percent organically. Revenues reached $3.05 and the operating profit was the highest ever at $595.3 million, a year-over-year increase of 16.8 percent.
“In spite of a generally low level of capital investments, we saw good demand for industrial tools, assembly systems, vacuum solutions and small- and medium-sized compressors,” said Ronnie Leten, President and CEO of the Atlas Copco Group. “Our service business is going from strength to strength. We are focusing on creating value for customers while keeping a close eye on efficiency.
Atlas Copco introduced several innovative products in the quarter, including high-performance oil-injected screw compressors, efficient bolt tensioning tools, a speedy surface drill rig for construction applications and small quarries, and an intelligent monitoring system for road construction equipment.