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Giulio Mazzalupi

Giulio Mazzalupi. Atlas Copco Group - Q4 Results Stockholm, February 12, 2001. Q4 Highlights. Order volume up 7 percent over strong Q4 1999 Outsourcing trend in rental business continue Product innovation and increased service offering reinforce market position

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Giulio Mazzalupi

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  1. Giulio Mazzalupi Atlas Copco Group - Q4 Results Stockholm, February 12, 2001

  2. Q4 Highlights • Order volume up 7 percent over strong Q4 1999 • Outsourcing trend in rental business continue • Product innovation and increased service offering reinforce market position • Revenues and profits - highest recorded in any single quarter • Proposed dividend SEK 5.25 (4.75) www.atlascopco-group.com

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

  4. Volume Growth per Quarter www.atlascopco-group.com

  5. Group Total www.atlascopco-group.com

  6. Portion of Group Sales Change in Local Currency Q4 2000 / Q4 1999 Orders received, Oct - Dec 2000Change in Local Currency +8% 29 +5 53 +8 8 +8 4 +31 4 +12 2 +4 www.atlascopco-group.com

  7. 53 +8 4 +12 Portion of Group Sales Change in Local Currency Q4 2000 / Q4 1999 Q4 - The Americas • High level of demand overall in North America • Outsourcing trend supports rental demand • Negative trend for professional electric tools • Industrial tools sales driven by productivity investments • Strong industrial compressors development • Strong mining demand in Canada • Brazil positive in mixed South America www.atlascopco-group.com

  8. 29 +5 4 +31 Portion of Group Sales Change in Local Currency Q4 2000 / Q4 1999 Q4 - Europe and Africa/Middle East • Pick-up in Germany and Nordic from low level • Continued high level of demand in Southern Europe and Great Britain for all products • Mining markets in Africa, and Iran explain growth in region • Further increase in “use of product” revenues www.atlascopco-group.com

  9. 8 +8 2 +4 Portion of Group Sales Change in Local Currency Q4 2000 / Q4 1999 Q4 - Asia and Australia • China - continued very strong demand, extension of local production capacity • Mixed in other Asia / Pacific • Positive development in Japan • Flat trend in India and South Korea • Australia at same level www.atlascopco-group.com

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

  11. Volume Growth per Quarter by Business Area www.atlascopco-group.com

  12. Compressor Technique • Innovations and after-market activities drive growth • Operating profit up 30% • Strong volume growth in most markets • Europe, South America and particularly China • Lower demand noted in North America • Restructuring of dryer and filter manufacturing • Benefits in R&D and economies of scale www.atlascopco-group.com

  13. Construction & Mining Technique • Good investment- and activity level in the mining sector • Several large contracts for consumables • Sales of construction equipment slowing down • More than 55% “use of product” revenues • Sales company start-ups • Egypt, Russia, Czech Republic www.atlascopco-group.com

  14. Industrial Technique • Very strong order intake for computer controlled tightening systems - MVI • Decreased demand for professional electric tools from the construction industry • Restructuring measures taken in Alliance Tools showing results www.atlascopco-group.com

  15. Rental Service • Trend to rent instead of buying continues • Solid increase in revenues - again • 7 new greenfield operations • 9 stores acquired • Merger - Rental Service Corp. • One rental fleet and one IS platform • Focus on capital efficiency • Fleet management • Seasonal effect and size/mix of rental fleet led to lower margins in the quarter www.atlascopco-group.com

  16. Earnings by Business Area Q4, excl. non-recurring items www.atlascopco-group.com

  17. Earnings by Business Area2000, excl. non-recurring items www.atlascopco-group.com

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

  19. Income Statement www.atlascopco-group.com

  20. Balance Sheet December 31, 2000 www.atlascopco-group.com

  21. Cash Flow www.atlascopco-group.com

  22. Net rental fleet investment = approx. SEK 4.0 billion Capital Expenditures in Tangible Fixed Assets SEK m 12months Quarterly 1996 1997 1998 1999 2000 www.atlascopco-group.com

  23. Earnings per Share and Dividend SEK 5.25* 4.32 4.75 4.08 3.60 1996 1997 1998 1999 2000 *Proposed by the Board of Directors www.atlascopco-group.com

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

  25. Total Demand Outlook Near Term Demand Outlook Industrial and Geographical (Dotted Arrows Indicate Risk/Opportunity) February 2001 Weight by Industry Weight by Region Others 8% Asia/Australia 11% Services 6% 4% Africa/Middle East Process 13% Europe 30% Automotive 6% Manufacturing 15% South America 4% Non-building 16% North America 51% Building 28% Mining 8% www.atlascopco-group.com

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

  27. 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

  28. Contents • Q4 Highlights and Strategic Moves • Market Development • Business Areas • Financials • Outlook • Additional Information www.atlascopco-group.com

  29. Portion of Group Sales Change in value 2000 / 1999 Orders received, Oct - Dec 2000Group Total 12,178 MSEK +19% 29 +7 53 +27 8 +17 4 +38 4 +29 2 +1 www.atlascopco-group.com

  30. 30 +4 51 +47 9 +36 4 +28 4 +28 2 +9 Portion of Group Sales Change in value 2000 / 1999 Orders received, Jan - Dec 2000Group Total 46,628 MSEK +28% www.atlascopco-group.com

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

  32. Compressor Technique * EBIT in Q4 2000 includes SEK 20 m. and EBIT in 2000 includes SEK 33 m. of non-recurring costs. Adjusted profit is SEK 815 m. and margin 19.9% for the quarter and SEK 2,770 m. and margin 18.8% for 2000. www.atlascopco-group.com

  33. Compressor Technique www.atlascopco-group.com

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

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

  36. Industrial Technique * EBIT in Q3 1999 includes SEK 83 m. of non-recurring gain. www.atlascopco-group.com

  37. Industrial Technique www.atlascopco-group.com

  38. Rental Service * EBIT in Q3 2000 includes SEK 127 m. of non-recurring cost. Adjusted profit is SEK 1,982 m. and margin 14.2%. www.atlascopco-group.com

  39. Rental Service www.atlascopco-group.com

  40. Group Total* * Including non-recurring items www.atlascopco-group.com

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

  42. Group Totalexkl. non-recurring items www.atlascopco-group.com

  43. 12 month values % SEK m. 1988 1994 1996 1998 1990 1992 2000 Earnings before Interest and Taxes EBIT margin excluding non-recurring items 1999 = 12.1%, 2000 = 13.8% www.atlascopco-group.com

  44. % SEK m. 1996 1997 1998 1999 2000 Taxes www.atlascopco-group.com

  45. Inventories, Customer Receivables and Net Rental Equipment Percent of Sales 12 Month Values 1996 1997 1998 1999 2000 www.atlascopco-group.com

  46. Cash and Interest Bearing Debt SEK m. Net borrowings 1,899 Dec. 1996 10,214 Dec. 1997 10,052 Dec. 1998 19,325 Dec. 1999 22,270 Dec. 2000 www.atlascopco-group.com

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