Atlas Copco Ab Class A · OMXSTO:ATCO_A
Atlas Copco Ab Class A — Q3 2024 Earnings Presentation
20 slides from Atlas Copco Ab Class A's earnings presentation, Oct 23, 2024
Slide 1: Q3 results 2024
Q3 results 2024 October 23, 2024
Slide 2: Q3 in brief
Q3 in brief ▪ Overall stable orders 50 000 50% 45 000 45% ▪ Mixed end-market demand 40 000 40% ‒ Industrial compressors flat, gas and process compressors down 35 000 35% ‒ Growth for vacuum equipment driven by semi 30 000 30% 25 000 25% ‒ Industrial assembly and vision solutions down driven by auto
Slide 3: Q3 financials
Q3 financials ▪ Orders received were MSEK 42 080 (42 606), organic increase of 1% 50 000 50% 45 000 45% ▪ Revenues were MSEK 43 105 (44 485), organic decline of 1% 40 000 40% ▪ Operating profit reached MSEK 9 337 (10 117), margin at 21.7% (22.7) 35 000 35% 30 000 30% ‒ Adjusted operating profit at M
Slide 4: Orders received – local currency
Orders received – local currency 100 +1 +3 27 +2 -4 25 -6 -4 37 -2 +2 7 +51 +88 4 +9 +10 September 30, 2024 Share of orders received, Year-to-date vs. Last 3 months vs. year-to-date, % previous year, % previous year, % 4 Atlas Copco AB - Q3 2024
Slide 5: Order growth per quarter
5 Atlas Copco AB - Q3 2024 10 20 30 40 50 60 -20 -10 0 15 Q1* 15 Q2* Organic growth, % 15 Q3* 15 Q4* 16 Q1* 16 Q2* 16 Q3* 16 Q4* 17 Q1* 17 Q2* 17 Q3* Order growth per quarter 17 Q4* 18 Q1 18 Q2 18 Q3 18 Q4 19 Q1 19 Q2 19 Q3 19 Q4 20 Q1 20 Q2 20 Q3 20 Q4 21 Q1 *2015-2017 excluding Mining and Rock Exc
Slide 6: Sales bridge
Sales bridge July-September January-September MSEK Orders received Revenues Orders received Revenues 2023 42 606 44 485 133 784 127 710 Structural change, % +2 +2 +2 +2 Currency, % -4 -4 -2 -2 Organic*, % +1 -1 -2 +2 Total, % -1 -3 -2 +2 2024 42 080 43 105 131 390 133 784 *Volume, price and mix. 6 A
Slide 7: Orders received per business area and organic order growth
Orders received per business area and organic order growth Power Technique Org. order dev. +0% 16% Industrial Technique Org. order dev. -7% 16% 47% Compressor Technique Org. order dev. +1% 21% Vacuum Technique Org. order dev. +10% * Share of Group orders received 12 months ending September 2024. 3-m
Slide 8: Compressor Technique
Compressor Technique ▪ Orders up 1% organically 25 000 50% 22 500 45% ‒ Industrial compressors flat 20 000 40% ‒ Gas and process compressors down 17 500 35% ‒ Solid growth for service 15 000 30% ▪ Revenues increased 2% organically 12 500 25% 10 000 20% ▪ Operating profit margin at 26.1% (24.9) 7 500
Slide 9: Vacuum Technique
Vacuum Technique ▪ Organic order growth of 10% 12 000 11 000 60% 55% ‒ Semi equipment orders up, driven by increased demand in Asia 10 000 50% ‒ Industrial and scientific equipment down 9 000 45% 8 000 40% ‒ Solid growth for service 7 000 35% ▪ Revenues down 2% organically 6 000 30% 5 000 25% ▪ Oper
Slide 10: Industrial Technique
Industrial Technique ▪ Organic order decline of 7% 10 000 50% 9 000 45% ‒ Markedly weaker equipment demand from the automotive industry 8 000 40% ‒ Equipment orders to the general industry basically flat 7 000 35% ‒ Solid growth for service 6 000 30% ▪ Revenues down 3% organically 5 000 25% 4 000 20
Slide 11: Power Technique
Power Technique ▪ Orders organically flat 10 000 50% 9 000 45% ‒ Weaker equipment demand — Order growth driven by acquisitions 8 000 40% ‒ Stable demand for specialty rental 7 000 35% ‒ Solid growth for service 6 000 30% ▪ Revenues down 5% organically 5 000 25% 4 000 20% ▪ Operating profit margin at
Slide 12: Group total
Group total July – September 2024 vs. 2023 50 000 50% July-September 45 000 45% MSEK 2024 2023 40 000 40% Orders received 42 080 42 606 Revenues 43 105 44 485 35 000 35% EBITA* 9 913 10 671 30 000 30% – as a percentage of revenues 23.0 24.0 25 000 25% Operating profit 9 337 10 117 20 000 20% – as a
Slide 13: Profit bridge
Profit bridge July – September 2024 vs. 2023 Volume, price, Items affecting Share-based LTI* MSEK Q3 2024 mix and other Currency Acquisitions comparability programs Q3 2023 Atlas Copco Group Revenues 43 105 -500 -1 565 685 - - 44 485 Operating profit 9 337 -74 -595 0 -123 12 10 117 21.7% 22.7% *LTI=
Slide 14: Profit bridge – by business area
Profit bridge – by business area July – September 2024 vs. 2023 Volume, price, Items affecting MSEK Q3 2024 mix and other Currency Acquisitions comparability Q3 2023 Compressor Technique Revenues 19 031 108 -790 220 19 493 Operating profit 4 974 213 -80 -15 4 856 26.1% 24.9% Vacuum Technique Revenue
Slide 15: Balance sheet
Balance sheet MSEK Sep. 30 2024 Sep. 30 2023 Dec. 31 2023 Intangible assets 72 577 71 265 67 501 Rental equipment 5 514 4 228 4 345 Other property, plant and equipment 16 738 14 548 14 358 Right-of-use assets 6 285 5 814 5 763 Other non-current assets 4 653 5 095 4 510 Inventories 29 410 31 979 29 2
Slide 16: Cash flow
Cash flow July-September January-September MSEK 2024 2023 2024 2023 Operating cash surplus 11 657 11 926 34 994 33 716 of which depreciation added back 2 167 1 990 6 401 5 649 Net financial items -309 -202 -151 -1 012 Taxes paid -2 634 -2 272 -7 301 -7 090 Pension funding -108 -83 -331 -332 Change i
Slide 17: Near-term outlook
Near-term outlook Atlas Copco Group expects that the customer activity will weaken somewhat. 17 Atlas Copco AB - Q3 2024
Slide 18: Q3 Summary
Q3 Summary ▪ Overall stable orders ▪ Healthy operating profit ▪ Solid operating cash flow ▪ Near-term outlook: Atlas Copco Group expects that the customer activity will weaken somewhat. 18 Atlas Copco AB - Q3 2024
Slide 19: Atlas Copco – Committed to sustainable productivity
Atlas C re reas OPCO | rere the future
Slide 20: Forward-looking statements
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, gener