Atlas Copco Ab Class A · OMXSTO:ATCO_A
Atlas Copco Ab Class A — Q1 2023 Earnings Presentation
19 slides from Atlas Copco Ab Class A's earnings presentation, Apr 27, 2023
Slide 1: Q1 results 2023
Q1 results 2023 April 27, 2023
Slide 2: Q1 in brief
Q1 in brief • Strong demand and record orders 50 000 50% ‒ Supported by several significant orders, strong development of project 45 000 45% business and orders to customer segments supporting the transition to a 40 000 40% low carbon society 35 000 35% 30 000 30% • Extraordinary growth for gas and
Slide 3: Q1 financials
Q1 financials • Orders received were MSEK 47 707 (40 379), organic growth of 5% 50 000 50% 45 000 45% • Revenues were MSEK 39 861 (30 086), organic growth of 18% 40 000 40% • Operating profit was MSEK 8 699 (6 749), margin at 21.8% (22.4) 35 000 35% ‒ Adjusted operating profit at MSEK 8 663 (6 525),
Slide 4: Orders received – local currency
Orders received – local currency 100 +11 26 +9 29 +16 37 +7 4 +21 4 +17 March 31, 2023 Share of orders received, Year-to-date vs. previous year-to-date, % year, % 4 Atlas Copco – Q1 results 2023
Slide 5: Order growth per quarter
5 50 60 10 20 30 40 0 -20 -10 13 Q1* Atlas Copco – Q1 results 2023 13 Q2* Organic growth, % 13 Q3* 13 Q4* 14 Q1* 14 Q2* 14 Q3* 14 Q4* 15 Q1* 15 Q2* 15 Q3* 15 Q4* Order growth per quarter 16 Q1* 16 Q2* 16 Q3* 16 Q4* 17 Q1* 17 Q2* 17 Q3* 17 Q4* 18 Q1 18 Q2 18 Q3 18 Q4 19 Q1 19 Q2 *2013-2017 excluding
Slide 6: Sales bridge
Sales bridge January - March Orders MSEK received Revenues 2022 40 379 30 086 Structural change, % +6 +6 Currency, % +7 +8 Organic*, % +5 +18 Total, % +18 +32 2023 47 707 39 861 *Volume, price and mix. 6 Atlas Copco – Q1 results 2023
Slide 7: Orders by business area and organic order development
Orders by business area and organic order development* Power Technique Org. order dev. +11% Compressor 15% Technique Industrial Technique Org. order dev. +19% Org. order dev. +20% 17% 45% 23% Vacuum Technique Org. order dev. -27% * Share of Group orders received 12 months ending March 2023. 3-month
Slide 8: Compressor Technique
Compressor Technique • Record orders, organic growth of 19% 25 000 50% 22 500 45% ‒ Extraordinary growth for gas and process compressors 20 000 40% ‒ Solid growth for larger industrial compressors, small/medium-sized compressors about flat 17 500 35% ‒ Solid growth for service 15 000 30% • Record re
Slide 9: Vacuum Technique
Vacuum Technique • Organic order decline of 27% 12 000 60% 11 000 55% ‒ Significantly decreased demand for semi equipment 10 000 50% ‒ Growth for industrial vacuum equipment 9 000 45% ‒ Solid growth for service 8 000 40% • Revenues increased 9% organically 7 000 35% 6 000 30% • Operating profit marg
Slide 10: Industrial Technique
Industrial Technique • Record orders, organic growth of 20% 10 000 50% ‒ Strong growth for automotive equipment 9 000 45% ‒ Growth for equipment to general industry 8 000 40% ‒ Strong growth for service 7 000 35% • Revenues increased 19% organically 6 000 30% 5 000 25% • Operating margin at 21.1% (2
Slide 11: Power Technique
Power Technique • Record orders, organic growth of 11% 10 000 50% ‒ Strong equipment demand 9 000 45% ‒ Significant growth for the specialty rental business 8 000 40% ‒ Solid growth for service 7 000 35% • Record revenues, 24% organic increase 6 000 30% 5 000 25% • Operating profit margin at 19.1% (
Slide 12: Group total
Group total January – March 2023 vs. 2022 50 000 50% January - March MSEK 2023 2022 45 000 45% Orders received 47 707 40 379 18% 40 000 40% Revenues 39 861 30 086 32% EBITA1) 9 211 7 127 29% 35 000 35% – as a percentage of revenues 23.1 23.7 30 000 30% Operating profit 8 699 6 749 29% 25 000 25% – a
Slide 13: Profit bridge
Profit bridge January – March 2023 vs. 2022 Volume, price, Items affecting Share-based MSEK Q1 2023 mix and other Currency Acquisitions comparability LTI* programs Q1 2022 Atlas Copco Group Revenues 39 861 5 340 2 590 1 845 - - 30 086 Operating profit 8 699 1 198 780 160 0 -188 6 749 21.8% 22.4% *LT
Slide 14: Profit bridge – by business area
Profit bridge – by business area January – March 2023 vs. 2022 Volume, price, Items affecting MSEK Q1 2023 mix and other Currency Acquisitions comparability Q1 2022 Compressor Technique Revenues 17 632 2 857 1 075 395 13 305 Operating profit 4 245 785 315 -25 0 3 170 24.1% 23.8% Vacuum Technique Rev
Slide 15: Balance sheet
Balance sheet MSEK Mar. 31, 2023 Mar. 31, 2022 Intangible assets 67 283 51 215 Rental equipment 2 805 2 437 Other property, plant and equipment 13 319 9 615 Right-of-use assets 5 490 3 213 * Other non-current assets 4 643 3 773 Inventories 29 819 20 361 Receivables 41 925 32 390 Current financial as
Slide 16: Cash flow
Cash flow January - March MSEK 2023 2022 Operating cash surplus 10 690 8 145 of which depreciation added back 1 778 1 441 Net financial items -351 -225 Taxes paid -1 625 -1 099 Pension funding -142 -82 Change in working capital -2 212 -3 079 Increase in rental equipment, net -298 -185 Cash flows fro
Slide 17: Near-term outlook
Near-term outlook Atlas Copco expects that the underlying customer activity level will remain at the current level. 17 Atlas Copco – Q1 results 2023
Slide 18: atlascopcogroup.com
atlascopcogroup.com
Slide 19: 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