Atlas Copco Ab Class A · OMXSTO:ATCO_A
Atlas Copco Ab Class A — Q2 2024 Earnings Presentation
20 slides from Atlas Copco Ab Class A's earnings presentation, Jul 18, 2024
Slide 1: Q2 results 2024
Q2 results 2024 July 18, 2024 Atlas Copco Group P
Slide 2: Q2 in brief
Q2 in brief ▪ Mixed demand but solid overall order intake 50 000 50% 45 000 45% ‒ Strong growth for gas and process compressors, industrial compressors flat 40 000 40% ‒ Vacuum equipment orders unchanged 35 000 35% 30 000 30% ‒ Order decline for industrial assembly and vision solutions 25 000 25% ‒
Slide 3: Q2 financials
Q2 financials ▪ Orders received were MSEK 43 654 (43 471), organic decline of 1% 50 000 50% 45 000 45% ▪ Revenues were MSEK 44 803 (43 364), organic increase of 2% 40 000 40% ▪ Operating profit reached MSEK 9 466 (9 189), margin at 21.1% (21.2) 35 000 35% 30 000 30% ‒ Adjusted operating profit at MS
Slide 4: Orders received – local currency
Orders received – local currency 100 +0 +2 28 +4 +5 26 -6 +2 36 -4 -6 6 +34 +45 4 +8 +8 June 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 – Q2 2024
Slide 5: Order growth per quarter
5 10 40 20 30 50 60 0 -20 -10 Atlas Copco AB - Q2 2024 15 Q1* 15 Q2* 15 Q3* Organic growth, % 15 Q4* 16 Q1* 16 Q2* 16 Q3* 16 Q4* 17 Q1* 17 Q2* 17 Q3* 17 Q4* Order growth per quarter 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 April-June January-June MSEK Orders received Revenues Orders received Revenues 2023 43 471 43 364 91 178 83 225 Structural change, % +2 +2 +2 +2 Currency, % -1 -1 -1 -2 Organic*, % -1 +2 -3 +5 Total, % +0 +3 -2 +5 2024 43 654 44 803 89 310 87 678 *Volume, price and mix. 6 Atlas Copco AB
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. -11% 15% Industrial Technique Org. order dev. -13% 17% 47% Compressor Technique Org. order dev. +6% 21% Vacuum Technique Org. order dev. +2% * Share of Group orders received 12 months ending June 2024. 3-month
Slide 8: Compressor Technique
Compressor Technique ▪ Organic order growth of 6% 25 000 50% ‒ Orders for industrial compressors basically unchanged 22 500 45% ‒ Strong growth for gas and process compressors across several customer 20 000 40% 17 500 35% segments 15 000 30% ‒ Solid growth for service 12 500 25% 10 000 20% ▪ Record
Slide 9: Vacuum Technique
Vacuum Technique ▪ Orders up 2% organically 12 000 60% ‒ Semi equipment orders up from a low level 11 000 55% 10 000 50% ‒ Industrial and scientific equipment down 9 000 45% 8 000 40% ‒ Solid growth for service 7 000 35% ▪ Revenues down 8% organically 6 000 30% 5 000 25% 4 000 20% ▪ Operating profit
Slide 10: Industrial Technique
Industrial Technique ▪ Organic order decline of 13% 10 000 50% ‒ Markedly weaker equipment demand from the automotive industry 9 000 45% ‒ Equipment orders to the general industry unchanged 8 000 40% 7 000 35% ‒ Solid growth for service 6 000 30% ▪ Revenues increased 4% organically 5 000 25% 4 000 2
Slide 11: Power Technique
Power Technique ▪ Organic order decline of 11% 10 000 50% ‒ Equipment orders markedly down 9 000 45% ‒ Growth for specialty rental, further supported by acquisitions 8 000 40% 7 000 35% ‒ Solid growth for service 6 000 30% ▪ Revenues up 8%, organically flat 5 000 25% 4 000 20% ▪ Operating profit mar
Slide 12: Group total
Group total April – June 2024 vs. 2023 April-June 50 000 50% MSEK 2024 2023 45 000 45% Orders received 43 654 43 471 40 000 40% Revenues 44 803 43 364 35 000 35% EBITA* 10 055 9 722 30 000 30% – as a percentage of revenues 22.4 22.4 25 000 25% Operating profit 9 466 9 189 20 000 20% – as a percentag
Slide 13: Profit bridge
Profit bridge April – June 2024 vs. 2023 Volume, price, Items affecting Share-based MSEK Q2 2024 mix and other Currency Acquisitions comparability LTI* programs Q2 2023 Atlas Copco Group Revenues 44 803 1 034 -470 875 - - 43 364 Operating profit 9 466 -63 320 40 -143 123 9 189 21.1% 21.2% *LTI= Long
Slide 14: Profit bridge – by business area
Profit bridge – by business area April – June 2024 vs. 2023 Volume, price, Items affecting MSEK Q2 2024 mix and other Currency Acquisitions comparability Q2 2023 Compressor Technique Revenues 20 136 1 646 -235 125 18 600 Operating profit 4 990 348 190 -20 0 4 472 24.8% 24.0% Vacuum Technique Revenue
Slide 15: Balance sheet
Balance sheet MSEK Jun. 30 2024 Jun. 30 2023 Dec. 31 2023 Intangible assets 72 455 72 561 67 501 Rental equipment 5 265 4 030 4 345 Other property, plant and equipment 16 163 14 349 14 358 Right-of-use assets 6 330 5 865 5 763 Other non-current assets 4 668 5 142 4 510 Inventories 30 234 32 394 29 2
Slide 16: Cash flow
Cash flow April-June January-June MSEK 2024 2023 2024 2023 Operating cash surplus 11 652 11 100 23 337 21 790 of which depreciation added back 2 160 1 881 4 234 3 659 Net financial items 512 -459 158 -810 Taxes paid -2 886 -3 193 -4 667 -4 818 Pension funding -119 -107 -223 -249 Change in working ca
Slide 17: Near-term outlook
Near-term outlook Atlas Copco Group expects that the customer activity will remain at the current level. 17 Atlas Copco AB - Q2 2024
Slide 18: Q2 Summary
Q2 Summary ▪ Mixed demand but solid overall order intake ‒ Strong growth for gas and process compressors, industrial compressors flat ‒ Vacuum equipment orders unchanged ‒ Order decline for industrial assembly and vision solutions ‒ Decreased order intake for power and flow ‒ Solid growth for servic
Slide 19: Atlas Copco
Atlas C re rae OPCO | re eey 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