Atlas Copco Ab Class A · OMXSTO:ATCO_A
Atlas Copco Ab Class A — Q1 2024 Earnings Presentation
19 slides from Atlas Copco Ab Class A's earnings presentation, Apr 24, 2024
Slide 1: Q1 results 2024
Q1 results 2024 April 24, 2024
Slide 2: Q1 in brief
Q1 in brief ▪ Solid order intake 50 000 50% ‒ Industrial compressor orders basically flat 45 000 45% 40 000 40% ‒ Vacuum equipment down due to industrial and scientific vacuum 35 000 35% ‒ Slight growth for industrial assembly and vision solutions 30 000 30% ‒ Power and flow equipment orders down fr
Slide 3: Q1 financials
Q1 financials ▪ Orders received were MSEK 45 656 (47 707), organic decline of 4% 50 000 50% ▪ Revenues were MSEK 42 875 (39 861), organic increase of 7% 45 000 40 000 45% 40% ▪ Operating profit reached MSEK 9 345 (8 699), margin at 21.8% 35 000 35% (21.8) 30 000 30% ‒ Adjusted operating profit at MS
Slide 4: Orders received – local currency
Orders received – local currency 100 -2 28 +4 26 -12 36 -2 6 +23 4 +8 March 31, 2024 Share of orders received, Year-to-date vs. year-to-date, % previous year, % 4 Atlas Copco AB - Q1 2024
Slide 5: Order growth per quarter
5 10 20 30 50 60 40 -20 -10 0 Atlas Copco AB - Q1 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 21 Q2 *2015-2017 excluding Mining and Ro
Slide 6: Sales bridge
Sales bridge January-March MSEK Orders received Revenues 2023 47 707 39 861 Structural change, % +2 +3 Currency, % -2 -2 Organic*, % -4 +7 Total, % -4 +8 2024 45 656 42 875 *Volume, price and mix. 6 Atlas Copco AB - Q1 2024
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. -17% 15% Industrial Technique Org. order dev. +3% 17% 47% Compressor Technique Org. order dev. -1% 21% Vacuum Technique Org. order dev. -4% * Share of Group orders received 12 months ending March 2024. 3-month
Slide 8: Compressor Technique
Compressor Technique ▪ Orders down 1% organically 25 000 50% ‒ Industrial compressors largely unchanged 22 500 45% ‒ Gas & process compressors down from last year’s exceptionally high level 20 000 40% 17 500 35% ‒ Continued solid growth for service 15 000 30% ▪ Revenues increased 8% organically 12 5
Slide 9: Vacuum Technique
Vacuum Technique ▪ Organic order decline of 4% 12 000 60% ‒ Driven by weaker demand for industrial and scientific vacuum 11 000 55% 10 000 50% equipment 9 000 45% ‒ Slight growth for semi equipment 8 000 40% 7 000 35% ‒ Continued growth for service 6 000 30% ▪ Revenues down 3% organically 5 000 25%
Slide 10: Industrial Technique
Industrial Technique ▪ Orders growth, up 3% organically 10 000 50% ‒ Automotive equipment orders flat 9 000 45% ‒ Growth for equipment to the general industry 8 000 40% 7 000 35% ‒ Continued solid growth for service 6 000 30% ▪ Record revenues, 19% organic increase 5 000 4 000 25% 20% ▪ Operating pr
Slide 11: Power Technique
Power Technique ▪ Organic order decline of 17% 10 000 50% ‒ Lower equipment demand compared to last year’s high level 9 000 45% ‒ Growth for specialty rental further supported by acquisitions 8 000 40% 7 000 35% ‒ Solid growth for service 6 000 30% ▪ Revenue increase of 9% organically 5 000 4 000 25
Slide 12: Group total
Group total January – March 2024 vs. 2023 50 000 50% January-March MSEK 2024 2023 45 000 45% Orders received 45 656 47 707 40 000 40% Revenues 42 875 39 861 35 000 35% EBITA* 9 905 9 211 30 000 30% – as a percentage of revenues 23.1 23.1 25 000 25% Operating profit 9 345 8 699 – as a percentage of r
Slide 13: Profit bridge
Profit bridge January – March 2024 vs. 2023 Volume, price, Items affecting Share-based MSEK Q1 2024 mix and other Currency Acquisitions comparability LTI* programs Q1 2023 Atlas Copco Group Revenues 42 875 2 799 -755 970 - - 39 861 Operating profit 9 345 888 -120 55 0 -177 8 699 21.8% 21.8% *LTI= Lo
Slide 14: Profit bridge – by business area
Profit bridge – by business area January – March 2024 vs. 2023 Volume, price, Items affecting MSEK Q1 2024 mix and other Currency Acquisitions comparability Q1 2023 Compressor Technique Revenues 18 710 1 383 -395 90 17 632 Operating profit 4 642 592 -180 -15 0 4 245 24.8% 24.1% Vacuum Technique Reve
Slide 15: Balance sheet
Balance sheet MSEK Mar. 31 2024 Mar. 31 2023 Dec. 31 2023 Intangible assets 72 487 67 283 67 501 Rental equipment 4 829 2 805 4 345 Other property, plant and equipment 15 869 13 319 14 358 Right-of-use assets 6 156 5 490 5 763 Other non-current assets 4 744 4 643 4 510 Inventories 31 065 29 819 29 2
Slide 16: Cash flow
Cash flow January-March MSEK 2024 2023 Operating cash surplus 11 685 10 690 of which depreciation added back 2 074 1 778 Net financial items -354 -351 Taxes paid -1 781 -1 625 Pension funding -104 -142 Change in working capital -1 334 -2 212 Increase in rental equipment, net -546 -298 Cash flow from
Slide 17: Near-term outlook
Near-term outlook Atlas Copco Group expects that the customer activity level will remain at the current level. 17 Atlas Copco AB - Q1 2024
Slide 18: Atlas C re
Atlas C re rae OPCO | re eey the future
Slide 19: 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, general business conditions, flu