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Atlas Copco Group

Atlas Copco Group

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Atlas Copco Group

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  1. Atlas Copco Group Q3 Results October 23, 2001

  2. Contents • Market Development • Business Areas • Financials • Outlook www.atlascopco-group.com

  3. Q3 Highlights and Strategic Moves • Earnings per share up despite weaker demand • Earnings per share up 9 percent • Operating margin at 12.5 percent • Order volume decrease 1% • Strategic moves give results • Consolidation and rationalizations of manufacturing • Product development and service activity contribute • Increase of presence in China • Strong operating cash flow www.atlascopco-group.com

  4. Group Total www.atlascopco-group.com

  5. Volume Growth per Quarter • Change in orders received in % vs. same Quarter previous year www.atlascopco-group.com

  6. Portion of Group Sales, % Change in %, last 3 month trend Orders received, 12 month trend Change in Local Currency ±0 September 2001 30 +1 51 -1 9 -3 4 +5 4 +1 2 +3 www.atlascopco-group.com

  7. 51 -1 4 +1 12 months, Portion of Group Sales, % 12 months, Change in %, last 3 month trend Q3 - The Americas September 2001 • Declining demand in North America • Lower demand than expected for equipment rental • Sharp fall in demand for industrial and professional electric tools • South America • Good order intake from the mining industry • Brazil weakening from good level www.atlascopco-group.com

  8. 30 +1 4 +5 12 months, Portion of Group Sales, % 12 months, Change in %, last 3 month trend Q3 - Europe and Africa/Middle East September 2001 • Solid demand in Europe • Growth in Germany, France and Eastern Europe • Robust demand for investment- related products • Professional electric tools and light construction equipment weak • Good growth in Africa/Middle East • Oil-producing region and South Africa outperforming www.atlascopco-group.com

  9. 9 -3 2 +3 12 months, Portion of Group Sales, % 12 months, Change in %, last 3 month trend Q3 - Asia and Australia September 2001 • Weakening demand in Asia • Continued growth in China • Weak development in Southeast Asia and Japan www.atlascopco-group.com

  10. Contents • Market Development • Business Areas • Financials • Outlook www.atlascopco-group.com

  11. Volume Growth per Quarter by Business Area • Change in orders received vs. same quarter previous year, % www.atlascopco-group.com

  12. Compressor Technique • 3% volume growth - profits up • Europe and China best performers • Newly developed products helped improve market share • Good order intake for large industrial compressors • Continued growth in aftersales activities • Increased presence in China • New product development facility www.atlascopco-group.com

  13. Construction & Mining Technique • Improved profitability despite volume drop • Good activity level, but little investments in the mining industry • Construction generally weak • Positive development of surface drilling equipment • Share of use of product revenues increase • Consolidation of manufacturing • Acquisition of Christensen Products www.atlascopco-group.com

  14. Industrial Technique • Volume drop • Terrorist attacks had big effect on U.S. business in September • Good demand for industrial tools, but weak demand for professional tools in Europe • Stable margin, thanks to currency and rationalizations • Consolidation and restructuring activities of professional electric tools in Q4 www.atlascopco-group.com

  15. Rental Service • Rental revenues fell in weak underlying market • Growth in industrial rental • Continuous rationalization of stores and rental fleet to balance presence • 3 stores opened and 16 stores consolidated • Increase in sales of used equipment and low new investments • Continued strong cash generation www.atlascopco-group.com

  16. Earnings by Business Area * The operating profits include non-recurring costs of MSEK 13 for Compressor Technique, MSEK 127 for Rental Service and in Corporate items a net pension refund of + MSEK 134. Total net + MSEK 6 for the Group. The corresponding margins are 19.5%, 15.9% and 14.5% respectively. www.atlascopco-group.com

  17. Contents • Market Development • Business Areas • Financials • Outlook www.atlascopco-group.com

  18. Income Statement www.atlascopco-group.com

  19. Balance Sheet September 30, 2001 www.atlascopco-group.com

  20. Atlas Copco Group Return on Capital Employed 12 month values 1997 1998 1999 2000 2001 Q3 www.atlascopco-group.com

  21. Cash Flow www.atlascopco-group.com

  22. Capital Expenditures in Tangible Fixed Assets Net rental fleet investment = approx. SEK 1 billion MSEK 12 months Quarterly 1997 1998 1999 2000 2001 Q3 www.atlascopco-group.com

  23. Contents • Market Development • Business Areas • Financials • Outlook www.atlascopco-group.com

  24. Near-term development Atlas Copco is basing its near-term activities on the current demand situation, which is as follows: Still weak in North America and relatively good in Europe, the Middle East, and Africa. In South America and Asia, the demand is now declining from recent good level. Contingency plans to cope with a more negative scenario have been implemented or are ready to be executed. www.atlascopco-group.com

  25. The face of interaction www.atlascopco-group.com

  26. Cautionary Statement • “Some statements herein are forward-looking and the actual outcome could be materially different. In addition to the factors explicitly commented upon, the actual outcome could be materially effected by other factors like for example, the effect of economic conditions, exchange-rate and interest-rate movements, political risks, impact of competing products and their pricing, product development, commercialization and technological difficulties, supply disturbances, and the major customer credit losses.” www.atlascopco-group.com

  27. Contents • Market Development • Business Areas • Financials • Outlook • Additional Information www.atlascopco-group.com

  28. Orders received, Jan. - Sept. 2001Group Total MSEK 38,573 +12 30 +13 51 +11 9 +13 4 +25 4 +16 2 0 12 months, Portion of Group Sales, % Change 2001 / 2000, % www.atlascopco-group.com

  29. Long Term Trend www.atlascopco-group.com

  30. Compressor Technique www.atlascopco-group.com

  31. Compressor Technique www.atlascopco-group.com

  32. Construction & Mining Technique www.atlascopco-group.com

  33. Construction & Mining Technique www.atlascopco-group.com

  34. Industrial Technique www.atlascopco-group.com

  35. Industrial Technique www.atlascopco-group.com

  36. Rental Service * EBIT in Q3 2000 includes MSEK 127 and EBIT in Q1 2001 includes MSEK 60 of non-recurring cost. www.atlascopco-group.com

  37. Rental Service www.atlascopco-group.com

  38. Group Total www.atlascopco-group.com

  39. Non-recurring items www.atlascopco-group.com

  40. Group Totalexcl. non-recurring items www.atlascopco-group.com

  41. Earnings Before Interest and Taxes 12 month values % MSEK 1988 1994 1996 1998 1990 1992 2000 2001 Q3 EBIT margin excluding non-recurring items 1999 = 12.1%, 2000 = 13.8%, Q3 2001 = 13,1% www.atlascopco-group.com

  42. Taxes % MSEK 1997 1998 1999 2000 2001 Q3 www.atlascopco-group.com

  43. Inventories, Customer Receivables and Net Rental Equipment Percent of Sales 12 Month Values 1997 1998 1999 2000 2001 Q3 www.atlascopco-group.com

  44. Cash and Interest-Bearing Debt MSEK Net borrowings 10,214 Dec. 1997 10,052 Dec. 1998 19,325 Dec. 1999 22,270 Dec. 2000 22,009 Sep. 2001 www.atlascopco-group.com

  45. Earnings per Share and Dividend 1996 1997 1998 1999 2000 2001 Q3 www.atlascopco-group.com

  46. The face of interaction www.atlascopco-group.com