| Key Figures (SEK million) | ||
|---|---|---|
| First quarter ended 31.3 | ||
| 2020 | 2019 | |
| Order Intake | 28 039 | 26 812 |
| Revenues | 25 098 | 24 181 |
| Of Which: | ||
| Vacuum Technique | 6159 | 5253 |
| Power Technique | 3325 | 3177 |
| Cost of Goods Sold | 14 395 | 13 747 |
| Gross Profit | 10 703 | 10 434 |
| Marketing Expenses | 3080 | 2912 |
| Administrative Expenses | 1643 | 1734 |
| R&D Costs | 980 | 863 |
| Operating Profit | 5124 | 5048 |
| Of Which: | ||
| Vacuum Technique | 1497 | 1292 |
| Power Technique | 473 | 524 |
| Net Profit attributable to Atlas Copco | 3836 | 3698 |
Source: Atlas Copco Q1 2020 results.
COMMENT.
Swedish industrial equipment manufacturer Atlas Copco has made a solid start to fiscal 2020 with early gains in orders, revenue and profitability outweighing the later impact of Covid-19 on its first quarter results.
Revenues were up 3.8% on the year prior at SEK25.1 billion, although they fell three percentage points on an organic basis. In the firm's Vacuum Technique segment, where pumps form part of the offering, revenues were up 17% to SEK6.2 billion million, while the Power Technique segment, which includes rental pumps, saw revenues lift 5%.
The company's order intake was up 4.6% at SEK28.0 billion, although on an organic basis it was down 2% on the comparator period. New business was stronger in two out of four of Atlas Copco's operating segments with the Vacuum Technique sector leading the way with record orders of SEK7.1 billion, up 25.1% on the fiscal 2019 figure on the back of strong demand from semiconductor and electronics industries. The Power Technique division posted a 7% decline in orders to SEK3.8 billion.
Atlas Copco's operating profit for the quarter also improved on the year earlier mark increasing 1.5% to SEK5.1 billion. Vacuum Technique's operating profit was up 16% to SEK1.5 billion, while the Power Technique division suffered a 10% year-on-year decrease to finish at SEK473 million.
Overall profit for the period was also up, increasing 3.7% on the prior period to reach SEK3.8 billion.