Atlas Copco Ab Class A · OMXSTO:ATCO_A
Atlas Copco Ab Class A — Q2 2023 Earnings Presentation
19 slides from Atlas Copco Ab Class A's earnings presentation, Jul 23, 2023
Slide 1: Q2 results 2023
Q2 results 2023 July 19, 2023
Slide 2: Q2 in brief
Q2 in brief • Overall continued strong demand 50 000 50% ‒ Solid order growth for gas and process compressors, industrial compressors flat 45 000 45% ‒ Vacuum equipment down markedly 40 000 40% ‒ Growth for industrial assembly and vision solutions 35 000 35% ‒ Weaker demand for power equipment 30 00
Slide 3: Q2 financials
Q2 financials • Orders received were MSEK 43 471 (41 010), organic decline of 5% 50 000 50% • Revenues were MSEK 43 364 (33 111), organic growth of 18% 45 000 45% • Operating profit was MSEK 9 189 (7 279), margin at 21.2% (22.0) 40 000 40% ‒ Adjusted operating profit at MSEK 9 488 (7 042), margin at
Slide 4: Orders received – local currency
Orders received – local currency 100 +6 +2 26 +6 +4 27 +5 -6 5 +18 +15 38 +6 +4 4 +11 +6 June 30, 2023 Share of orders received, Year-to-date vs. Last 3 months vs. year-to-date, % previous year, % previous year, % 4 Atlas Copco – Q2 results 2023
Slide 5: Order growth per quarter
5 Atlas Copco – Q2 results 2023 Organic growth, % 10 20 30 40 60 50 -20 -10 0 14 Q1* 14 Q2* 14 Q3* 14 Q4* 15 Q1* 15 Q2* 15 Q3* 15 Q4* 16 Q1* Order growth per quarter 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 19 Q3 19 Q4 20 Q1 20 Q2 20 Q3 *2014-2017 excludin
Slide 6: Sales bridge
Sales bridge April - June January - June Orders Orders MSEK received Revenues received Revenues 2022 41 010 33 111 81 389 63 197 Structural change, % +7 +6 +6 +6 Currency, % +4 +7 +6 +8 Organic*, % -5 +18 +0 +18 Total, % +6 +31 +12 +32 2023 43 471 43 364 91 178 83 225 *Volume, price and mix. 6 Atlas
Slide 7: Orders by business area and organic order development
Orders by business area and organic order development* Power Technique Org. order dev. -12% Compressor 15% Technique Industrial Technique Org. order dev. +4% Org. order dev. +10% 17% 46% 22% Vacuum Technique Org. order dev. -28% * Share of Group orders received 12 months ending June 2023. 3-month or
Slide 8: Compressor Technique
Compressor Technique • Equipment orders on a solid level, organic growth of 4% 25 000 50.0% ‒ Solid growth for gas and process compressors 22 500 45.0% ‒ Industrial compressors flat 20 000 40.0% ‒ Continued solid growth for service 17 500 35.0% • Record revenues, 21% organic increase 15 000 30.0% •
Slide 9: Vacuum Technique
Vacuum Technique • Organic order decline of 28% 12 000 60% ‒ Significantly lower demand for semi equipment 11 000 55% 10 000 50% ‒ Decreased orders for industrial and scientific vacuum equipment 9 000 45% ‒ Solid growth for service 8 000 40% • Revenues up 5% organically 7 000 35% • Record operating
Slide 10: Industrial Technique
Industrial Technique • Strong orders, organic growth of 10% 10 000 50% ‒ Solid growth for automotive equipment 9 000 45% ‒ Mixed demand from general industry 8 000 40% ‒ Solid growth for service 7 000 35% • Record revenues, 28% organic increase 6 000 30% • Record operating profit, margin at 21.8% (1
Slide 11: Power Technique
Power Technique • Organic order decline of 12% 10 000 50% ‒ Lower equipment demand 9 000 45% ‒ Solid growth for specialty rental and service 8 000 40% ‒ Overall order intake supported by acquisitions 7 000 35% • Record revenues, 26% organic increase 6 000 30% • Record operating profit, margin at 19.
Slide 12: Group total
Group total April – June 2023 vs. 2022 50 000 50% April - June MSEK 2023 2022 45 000 45% Orders received 43 471 41 010 6% 40 000 40% Revenues 43 364 33 111 31% EBITA1) 9 722 7 679 27% 35 000 35% – as a percentage of revenues 22.4 23.2 30 000 30% Operating profit 9 189 7 279 26% – as a percentage of
Slide 13: Profit bridge
Profit bridge April – June 2023 vs. 2022 Volume, price, Items affecting Share-based MSEK Q2 2023 mix and other Currency Acquisitions comparability LTI* programs Q2 2022 Atlas Copco Group Revenues 43 364 5 973 2 150 2 130 - - 33 111 Operating profit 9 189 2 006 230 210 0 -536 7 279 21.2% 22.0% *LTI=
Slide 14: Profit bridge – by business area
Profit bridge – by business area April – June 2023 vs. 2022 Volume, price, Items affecting MSEK Q2 2023 mix and other Currency Acquisitions comparability Q2 2022 Compressor Technique Revenues 18 600 3 024 830 455 14 291 Operating profit 4 472 1 216 25 -35 0 3 266 24.0% 22.9% Vacuum Technique Revenue
Slide 15: Balance sheet
Balance sheet MSEK Jun. 30, 2023 Jun. 30, 2022 Dec. 31, 2022 Intangible assets 72 561 56 807 67 067 Rental equipment 4 030 2 566 2 689 Other property, plant and equipment 14 349 10 498 12 720 Right-of-use assets 5 865 3 470 4 752 * Other non-current assets 5 142 4 257 4 861 Inventories 32 394 23 609
Slide 16: Cash flow
Cash flow April - June January - June MSEK 2023 2022 2023 2022 Operating cash surplus 11 100 8 645 21 790 16 790 of which depreciation added back 1 881 1 491 3 659 2 932 Net financial items -459 21 -810 -204 Taxes paid -3 193 -2 060 -4 818 -3 159 Pension funding -107 -83 -249 -165 Change in working
Slide 17: Near-term outlook
Near-term outlook Atlas Copco expects that the customer activity level will weaken somewhat compared to the current high level. 17 Atlas Copco – Q2 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