Industrial tooling and equipment maker Atlas Copco (OMX: ATCO A, ATCO B) continued a run of strong Swedish engineering company reports on the order intake front. Its near 25 billion kronor intake is also a quarterly record. Quarterly revenues climbed above 22.2 billion, showing 17% organic growth year-on-year. Operating margin weakened somewhat but stayed above 20%. Profit for the period of 3.4 billion translates to basic earnings per share of 2.81 SEK.
The demand is expected to stay at the current high level in the short term. Previous short-term outlook was guiding for some weakening. The story in different geographical areas was similar as we’ve seen with others: strong growth in Americas, increased demand in Europe and lower demand from Asia. Overall demand from mining and automotive industries was particularly strong. The share has pared initial gains after the report and is trading flat for the day.
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