The 2020 Mid-Year Economic Update_long

Atlas Copco 2Q Sales Up 8%

Atlas Copco continued to expand globally, with two acquisitions in the U.S. and a new center in the Congo.

Atlas Copco, Stockholm, Sweden, reported second quarter sales of SEK 17.4 billion (US$2.35 billion), an increase of 8 percent over the prior year. Sales increased organically 9 percent. Profit for the period was SEK 2.52 billion (US$343 million), up 72 percent.

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\”The overall demand for the Group’s products and services has recovered rapidly and a positive demand development was seen in all business areas,\” says Ronnie Leten, president and CEO. \”We continue to see a strong growth in India, China, and Brazil. The United States had a good development and Europe showed solid improvement, apart from the southern parts.\”

Orders received increased 33 percent organically to MSEK 19 221. Operating profit increased to MSEK 3 499, corresponding to an operating margin of 20.1 percent.

During the quarter Atlas Copco continued its strategy to increase its market presence. A customer center was opened in the Democratic Republic of the Congo. In the United States, two distributors were acquired: one for compressors in Minnesota and one for industrial tools in Texas.

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