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Home » Atlas Copco Organic Sales Fall 25% in Third Quarter

Atlas Copco Organic Sales Fall 25% in Third Quarter

By    MDM  Staff 
October 22, 2009
More about:  Europe,  Industrial,  PT/Motion Control/Fluid Power
Emerging markets begin showing improvement for the Swedish manufacturer.
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Swedish manufacturer Atlas Copco AB (STO: ATCOA, ATCOB) reported sales in the third quarter fell 18% to MSEK 15,088, an organic decline of 25%. Profit for the period was MSEK 1,730 (US$254 million), down 28.9% from the prior year.

Organic order intake dropped 30%. Demand remained stable on a lower level than the previous year, but some emerging markets noted improved demand during the quarter compared to the beginning of 2009.

"Even with the changes we have done, overall efficiency is not yet at the level we believe it can be. We have to improve organizational efficiency but at the same time invest in sales and service people," says Ronnie Leten, president and CEO. "Overall demand is expected to stay around the current level."

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