Q3 2024 Atlas Copco AB Earnings Call Transcript
Key Points
- Atlas Copco AB (ATLCY) reported a stable operating profit and solid operating cash flow for Q3 2024.
- The service business performed well, showing growth across all business areas.
- The company completed 10 acquisitions during the quarter, contributing to structural growth.
- Compressor Technique achieved a solid operating margin of 26.1%, supported by currency and volume price mix effects.
- Vacuum Technique experienced a positive organic growth of 10%, driven mainly by the semiconductor market in Asia and Europe.
- Orders received were flat overall, with specific declines in Gas and Process compressors and Industrial Technique, mainly driven by the automotive industry.
- The operating profit margin decreased from 22.7% last year to 21.7% this quarter, impacted by restructuring costs and negative currency effects.
- Industrial Technique saw a 7% organic decline, primarily due to weakness in the automotive sector.
- Power Technique experienced a 5% decline in revenues, with margins negatively affected by lower revenue volumes and recent acquisitions.
- The company faced a 4% negative impact from currency headwinds, affecting overall financial performance.
Welcome to the Atlas Copco Group Q3 2024 Report Presentation. (Operator Instructions). Now I will hand the conference over to CFO, Peter Kinnart. Please go ahead.
Thank you, operator. First of all, a very warm welcome to all of you attending this quarter three earnings call for the Atlas Copco Group. Together with me isVagner Rego, and I will, together with, Vagner Rego, guide you through the presentation in the coming minutes. But before we start, I would first already now like to remind you, as usual, that once we open up in, I would like to ask you just to ask 1 question at a time. in order to make sure that all of the participants have an opportunity to raise their most burning question. And of course, we have time left and there's always the opportunity to come back with the second and follow-up questions. So thank you already for that before we start. But with that, I would like to hand over now to Vagner Rego, our CEO, who will guide you through the presentation.
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