Atlas Copco Ab Class A · OMXSTO:ATCO_A
Atlas Copco Ab Class A — Q4 2023 Earnings Presentation
23 slides from Atlas Copco Ab Class A's earnings presentation, Jan 25, 2024
Slide 1: Q4 results 2023
Q4 results 2023 January 25, 2024
Slide 2: Q4 in brief
Q4 in brief ▪ Mixed demand 50 000 50% ‒ Order growth for industrial compressors 45 000 45% 40 000 40% ‒ Vacuum equipment orders down 35 000 35% ‒ Slight order growth for industrial assembly and vision solutions 30 000 30% ‒ Power and flow equipment order down 25 000 25% ‒ Continued growth for servic
Slide 3: Q4 in brief
Q4 in brief ▪ Orders received were MSEK 36 843 (36 148), organic growth of 1% 50 000 50% 45 000 45% ▪ Revenues were MSEK 44 954 (40 054), organic increase of 10% 40 000 40% ▪ Operating profit was MSEK 9 086 (7 810), margin at 20.2% (19.5) 35 000 30 000 35% 30% ‒ Adjusted operating profit at MSEK 9 9
Slide 4: Full year 2023 in brief
Full year 2023 in brief ▪ Record orders, revenues and operating profit ▪ Solid order growth for Compressor Technique and Industrial Technique ▪ Vacuum Technique orders down, especially to semiconductor industry ▪ Power Technique orders about flat ▪ Service growth in all business areas ▪ 17 acquisiti
Slide 5: Full year 2023 financials
Full year 2023 financials ▪ Orders received increased 8% to MSEK 170 627 (158 092), organic growth of 0% ▪ Revenues increased 22% to MSEK 172 664 (141 325), organic increase of 14% ▪ Operating profit increased 23% to MSEK 37 091 (30 216), margin at 21.5% (21.4) ‒ Adjusted operating margin of 22.1% (
Slide 6: Orders received – local currency
Orders received – local currency 100 +5 +3 27 +3 -6 27 +6 +15 37 +4 -0 5 +17 +11 4 +11 +17 December 31, 2023 Share of orders received, Year-to-date vs. Last 3 months vs. year-to-date, % previous year, % previous year, % 6 Atlas Copco AB - Q4 2023
Slide 7: Order growth per quarter
Order growth per quarter Organic growth, % 7 Atlas Copco AB - Q4 2023
Slide 8: Sales bridge
Sales bridge October-December January-December MSEK Orders received Revenues Orders received Revenues 2022 36 148 40 054 158 092 141 325 Structural change, % +2 +2 +5 +4 Currency, % -1 +0 +3 +4 Organic*, % +1 +10 +0 +14 Total, % +2 +12 +8 +22 2023 36 843 44 954 170 627 172 664 *Volume, price and mix
Slide 9: Orders received per business area and organic order growth
Orders received per business area and organic order growth Power Technique Org. order dev. -11% 16% Industrial Technique Org. order dev. +3% 17% 46% Compressor Technique Org. order dev. +7% 21% Vacuum Technique Org. order dev. -5% * Share of Group orders received 12 months ending December 2023. 3-mo
Slide 10: Compressor Technique
Compressor Technique ▪ Continued order growth, up 7% organically 25 000 50% ‒ Growth for industrial compressors, especially larger sized 22 500 45% ‒ Lower demand for gas & process compressors 20 000 40% 17 500 35% ‒ Solid growth for service 15 000 30% ▪ Record revenues, 15% organic increase 12 500
Slide 11: Vacuum Technique
Vacuum Technique ▪ Order decline, down 5% organically 12 000 60% ‒ Driven by weaker demand for industrial and scientific vacuum 11 000 55% equipment 10 000 50% 9 000 45% ‒ Semi equipment largely unchanged 8 000 40% ‒ Growth for service 7 000 35% 6 000 30% ▪ Record revenues, 3% organic increase 5 000
Slide 12: Industrial Technique
Industrial Technique ▪ Orders growth, up 3% organically 10 000 50% ‒ Automotive equipment orders down 9 000 45% ‒ Increased equipment demand from general industry 8 000 40% 7 000 35% ‒ Continued solid growth for service 6 000 30% ▪ Record revenues, 11% organic increase 5 000 25% ▪ Record operating p
Slide 13: Power Technique
Power Technique ▪ Order decline, down 11% organically 10 000 50% ‒ Lower equipment demand 9 000 45% ‒ Solid positive contribution from acquisitions 8 000 40% 7 000 35% ‒ Continued solid growth for specialty rental and service 6 000 30% ▪ Revenue increase of 10% organically 5 000 25% ‒ Solid positive
Slide 14: Group total
Group total October – December 2023 vs. 2022 50 000 50% October-December 45 000 45% MSEK 2023 2022 Orders received 36 843 36 148 40 000 40% Revenues 44 954 40 054 35 000 35% EBITA* 9 638 8 306 30 000 30% – as a percentage of revenues 21.4 20.7 25 000 25% Operating profit 9 086 7 810 – as a percentag
Slide 15: Profit bridge
Profit bridge October – December 2023 vs. 2022 Volume, price, Items affecting Share-based MSEK Q4 2023 mix and other Currency Acquisitions comparability LTI* programs Q4 2022 Atlas Copco Group Revenues 44 954 4 105 -25 820 - - 40 054 Operating profit 9 086 1 997 -130 60 -606 -45 7 810 20.2% 19.5% *L
Slide 16: Profit bridge – by business area
Profit bridge – by business area October – December 2023 vs. 2022 Volume, price, Items affecting MSEK Q4 2023 mix and other Currency Acquisitions comparability Q4 2022 Compressor Technique Revenues 19 827 2 627 -15 130 17 085 Operating profit 4 915 979 -75 -15 0 4 026 24.8% 23.6% Vacuum Technique Re
Slide 17: Balance sheet
Balance sheet MSEK Dec. 31, 2023 Sep. 30, 2023 Dec. 31, 2022 Intangible assets 67 501 71 265 67 067 Rental equipment 4 345 4 228 2 689 Other property, plant and equipment 14 358 14 548 12 720 Right-of-use assets 5 763 5 814 4 752 Other non-current assets 4 510 5 095 4 861 Inventories 29 283 31 979 2
Slide 18: Cash flow
Cash flow October-December January-December MSEK 2023 2022 2023 2022 Operating cash surplus 12 065 10 251 45 781 36 978 of which depreciation added back 2 112 1 768 7 761 6 333 Net financial items 129 -633 -883 -714 Taxes paid -1 668 -1 078 -8 758 -6 245 Pension funding -180 -167 -512 -419 Change in
Slide 19: Earnings, dividend and redemption
Earnings, dividend and redemption 6.00 5.76 Continuing operations after the distribution of Epiroc AB 5.00 4.82 3.75 3.90 4.00 3.72 3.00 3.43 3.37 3.40 3.00 3.04 2.80 Proposed by the 2.49 2.50 2.45 Board of Directors 2.41 2.30 2.00 1.83 1.90 1.70 1.75 1.75 1.50 1.58 1.58 1.38 1.00 0.00 2013 2014 201
Slide 20: Near-term outlook
Near-term outlook Atlas Copco Group expects that the customer activity level will remain at the current level. 20 Atlas Copco AB - Q4 2023
Slide 21: Welcome to Atlas Copco Group’s Capital Markets Day 2024
Welcome to Atlas Copco Group’s Capital Markets Day 2024 May 16, 2024 Antwerp, Belgium Registration: Atlas Copco Group Capital Markets Day 2024 (lyyti.fi) 21 Atlas Copco AB - Q4 2023
Slide 22: Atlas Co Tec
Atlas Co Tec . roup pco | parca) a
Slide 23: 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