Atlas Copco: Ronnie Leten comments on Atlas Copco`s Q4 and full-year results
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http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130131:nBw315634a STOCKHOLM, Sweden--(Business Wire)-- Regulatory Newss: Stockholm, Sweden, January 31, 2013: Atlas Copco today reported solid operating profit, revenue and orders received for the fourth quarter, even as equipment demand continued to soften in many markets and customer segments. The Group posted a record year for 2012. "A good quarter ended a record year," said Ronnie Leten, President and CEO of the Atlas Copco Group. "We continue to perform well despite the mixed market conditions, which is the result of the strength and flexibility built into the Atlas Copco organization." Fourth-quarter revenues increased 4% organically year-on-year to MSEK 22 748 (22 290) and the operating profit was MSEK 4 687 (4 596). Compared to the most recent quarters, demand for equipment declined somewhat while demand for services remained on a good level. "In the near term, the overall demand for Atlas Copco`s products and services is expected to decrease somewhat," Ronnie Leten said. "The uncertainty is still high and further capacity adjustments may be needed. At the same time, we continue to invest in many areas to safeguard a sustainable profitable growth also in the future." Important events during the quarter include the agreement to acquire Switzerland-based MEYCO Equipment business, capacity adjustments in Europe, and the continued expansion into new markets such as the opening of a customer center in Burkina Faso. Atlas Copco also launched several new products, and hosted its capital markets day in Örebro, Sweden, one of its main hubs for production and innovation related to mining and civil engineering. "Operational excellence, product development and serving our customers in the best way will continue to be in focus," Ronnie Leten said. Atlas Copco discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. Atlas Copco is an industrial group with world-leading positions in compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems. With innovative products and services, Atlas Copco delivers solutions for sustainable productivity. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 170 countries. In 2012, Atlas Copco had 39 800 employees and revenues of BSEK 90.5 (BEUR 10.5). Learn more at www.atlascopco.com. This information was brought to you by Cision http://www.cisionwire.com For further information please contact: Ola Kinnander, Media Relations Manager 46 (0)8 743 8060 or 46 (0)70 347 2455 Copyright Business Wire 2013
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