Swedish manufacturer Atlas Copco, (STO: ATCOA, ATCOB), Nacka, Sweden, reported revenues for the second quarter of SEK 23.3 billion (US$3.4 billion), a 7 percent increase over the same period a year ago. Organic sales declined 3 percent. Profit increased 2 percent to SEK 3.2 billion (US$469.6 million).
Operating profit margin was negatively affected by lower volumes in mining and rock excavation technique, investments in the sales and service organizations and dilution from acquisitions. Compared to the previous year, order volumes for industrial tools and assembly systems increased and orders for compressors and for construction and mining equipment decreased slightly.
For the first half, sales were SEK 44.8 billion (US$6.6 billion), up 6 percent year-over-year. Profit fell 3 percent to SEK 6 billion (US$878.7 million).