Atlas Copco Ab Class A · OMXSTO:ATCO_A
Atlas Copco Ab Class A — Q4 2025 Earnings Presentation
21 slides from Atlas Copco Ab Class A's earnings presentation, Jan 27, 2026
Slide 1: Q4 results 2025
Q4 results 2025 January 27, 2026
Slide 2: Q4 summary
Q4 summary ▪ Organic order growth ‒ Industrial compressor demand somewhat up ‒ Strong growth for gas and process compressors ‒ Solid growth for vacuum equipment ‒ Weaker demand for industrial assembly and vision solutions ‒ Weaker orders for power and flow equipment ‒ Growth for service ▪ Revenues u
Slide 3: Q4 financials
Q4 financials ▪ Orders received at MSEK 38 606 (39 725), organic increase of 4% ▪ Revenues reached MSEK 42 782 (45 988), organically unchanged ▪ Adjusted operating profit at MSEK 8 772 (10 029), margin of 20.5% (21.8) ‒ Reported operating profit reached MSEK 8 470 (10 018), margin of 19.8% (21.8) ▪
Slide 4: Full year 2025 – summary
Full year 2025 – summary ▪ Mixed equipment demand, organically up 1% ‒ Industrial compressor volumes slightly down ‒ Vacuum equipment orders somewhat up, driven by industrial and scientific customers ‒ Orders for industrial assembly and vision solutions down, driven by weaker demand from the automot
Slide 5: Full year 2025 financials
Full year 2025 financials ▪ Orders received reached MSEK 165 814 (171 115), organic increase of 1% ▪ Revenues decreased 5% to MSEK 168 343 (176 771), organic decrease of 1% ▪ Operating profit decreased 11% to MSEK 34 114 (38 166), margin at 20.3% (21.6) ‒ Adjusted operating margin reached 20.7% (21.
Slide 6: Orders received – local currency
Orders received – local currency 100 +3 +8 27 +3 +10 26 +4 +8 36 +5 +13 6 -4 -4 5 +11 -1 December 31, 2025 Share of orders received, Year-to-date vs. Last 3 months vs. year-to-date, % previous year, % previous year, % 6 Atlas Copco AB - Q4 2025
Slide 7: Sales bridge
Sales bridge October-December January-December MSEK Orders received Revenues Orders received Revenues 2024 39 725 45 988 171 115 176 771 Structural change, % +4 +4 +2 +2 Currency, % -11 -11 -6 -6 Organic*, % +4 +0 +1 -1 Total, % -3 -7 -3 -5 2025 38 606 42 782 165 814 168 343 *Volume, price and mix.
Slide 8: Orders received and organic order growth per business area
Orders received and organic order growth per business area Industrial Technique Org. order dev. -1% 16% Power Technique Org. order dev. -6% 17% 46% Compressor Technique Org. order dev. +7% 21% Vacuum Technique Org. order dev. +13% Share of Group orders received 12 months ending December 2025. 3-mont
Slide 9: Compressor Technique
Compressor Technique ▪ Orders up 7% organically ‒ Volumes for industrial compressors somewhat up ‒ Strong growth for gas and process compressors ‒ Continued growth for service ▪ Revenue increase of 3% organically ▪ Operating profit margin at 24.3% (25.1) ‒ Negatively affected by acquisitions, sales
Slide 10: Vacuum Technique
Vacuum Technique ▪ Organic order growth of 13% ‒ Notable growth for semi equipment ‒ Solid growth for industrial and scientific vacuum equipment ‒ Growth for service ▪ Revenues down 3% organically ▪ Operating profit margin at 19.2% (23.4, adjusted 21.2) ‒ Negatively affected by currency and dilution
Slide 11: Industrial Technique
Industrial Technique ▪ Organic order decline of 1% ‒ Equipment orders from the automotive industry down ‒ Growth for equipment to the general industry ‒ Service orders essentially unchanged ▪ Revenues down 3% organically ▪ Adjusted operating profit margin at 19.8% (21.2) ‒ Negatively affected by cur
Slide 12: Power Technique
Power Technique ▪ Orders down 6% organically ‒ Equipment orders down ‒ Somewhat weaker demand for specialty rental ‒ Growth for service ▪ Revenues down 4% organically ▪ Operating profit margin at 16.0% (17.8) ‒ Negatively affected by currency, lower utilization of the rental fleet, higher functional
Slide 13: Group total
Group total October – December 2025 vs. 2024 October-December MSEK 2025 2024 Orders received 38 606 39 725 Revenues 42 782 45 988 EBITA* 9 152 10 616 – as a percentage of revenues 21.4 23.1 Operating profit 8 470 10 018 – as a percentage of revenues 19.8 21.8 Net financial items -132 -37 Profit befo
Slide 14: Profit bridge
Profit bridge October – December 2025 vs. 2024 Volume, price, Items affecting Share-based MSEK Q4 2025 mix and other Currency Acquisitions comparability LTI* programs Q4 2024 Atlas Copco Group Revenues 42 782 -156 -4 870 1 820 45 988 Operating profit 8 470 278 -1 705 170 -220 -71 10 018 19.8% 21.8%
Slide 15: Profit bridge – by business area
Profit bridge – by business area October – December 2025 vs. 2024 Volume, price, Items affecting MSEK Q4 2025 mix and other Currency Acquisitions comparability Q4 2024 Compressor Technique Revenues 19 540 668 -2 260 750 20 382 Operating profit 4 752 172 -585 55 0 5 110 24.3% 25.1% Vacuum Technique R
Slide 16: Balance sheet
Balance sheet MSEK Dec. 31 2025 Sep. 30 2025 Dec. 31 2024 Intangible assets 77 078 73 209 77 107 Rental equipment 7 811 5 953 5 947 Other property, plant and equipment 18 349 18 216 17 745 Right-of-use assets 7 345 6 911 7 133 Other non-current assets 4 853 4 952 5 095 Inventories 26 659 27 648 29 0
Slide 17: Cash flow
Cash flow October-December January-December MSEK 2025 2024 2025 2024 Operating cash surplus 10 951 12 105 43 349 47 099 of which depreciation added back 2 673 2 384 9 529 8 785 Net financial items 21 302 -527 151 Taxes paid -2 564 -2 169 -9 408 -9 470 Pension funding -167 -186 -517 -517 Change in wo
Slide 18: Near-term outlook
Near-term outlook Atlas Copco Group expects that the customer activity will remain at the current level. 18 Atlas Copco AB - Q4 2025
Slide 19: Earnings and dividend
Earnings and dividend 7.00 Continuing operations after the distribution of Epiroc AB 6.00 6.11 5.00 5.76 5.00 Proposed by the 4.82 Board of Directors 5.43 3.75 3.90 4.00 3.72 3.43 3.37 3.40 3.00 3.04 3.00 3.00 0.38 2.80 2.45 2.00 2.30 1.83 1.90 1.70 1.75 1.75 1.58 1.00 0.00 2016 2017 2018 2019 2020
Slide 20: Atlas Copco
Atlas C re reas OPCO | rere the future
Slide 21: 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