Atlas Copco (OMX: ATCO A, ATCO B) ended a record breaking year on a relatively good note. Fourth quarter revenues were nearly 22.3 billion and order intake almost as much. Operating profit increased to 4.6 billion range as operating margin was a solid 20.6%. Profit before tax turned out to be 4.436 billion Swedish kronor. Fiscal year ROCE climbed to 37%. Operating cash flow was down by a billion to 1.5 billion as working capital increased markedly. Significant amount of cash was also used for investments.
Dividend proposal is 25% higher than last year at 5 SEK a share. The company expects some decline in demand from the current high level. Already in Q4 demand weakened in some segments, particularly for certain construction equipment products. Demand was still described as stronger than expected. Rock excavation equipment demand grew both sequentially and year-on-year.
The company plans to continue to actively look for now growth opportunities in the challenging economic situation. Today the company could also note that acquisition of GIA Industri AB from Vätterledens Verkstad AB was completed. GIA Industri manufactures products such as electric mine trucks, utility vehicles, continuous loaders and ventilation systems and has 113 employees and annual revenues of 230 million. Atlas Copco is up a notch in an overall positive market this afternoon.
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