Currency effects lift Atlas Copco

Atlas Copco Construction Technique’s revenues for the third quarter of the year were up +4% on the same period last year to SEK 3.86 billion (US$ 465 million). The division’s operating profit rose +27% to SEK 538 million (US$ 65 million) for a 14% margin.

However, the company said that the volume of equipment it sold was down -4% compared to a year ago. The increase in both revenues and order intake, which was up +5% to SEK 3.6 billion (US$ 434 million), was due largely to currency effects, along with a small improvement in pricing.

Atlas Copco said the lower order intake in volume terms for the Construction Technique business was mainly due to downturns in Brazil and China. However, it added that its speciality rental business “remained solid,” with increasing orders across all major regions.

As a whole, Atlas Copco’s revenues for the third quarter were up +9% to SEK 25.7 billion (US$ 3.1 billion). Its net profit for the three month period grew +32% to SEK 3.81 billion (US$459 million).