All-time high revenues and profit concluded a record year for Atlas Copco, with the Stockholm-headquartered firm noting the growing importance of service.
Orders received in Q4 grew to MSEK 23,743 (22,459), an organic growth of 1%. Revenues were MSEK 25,321 (22,645), an organic growth of 7%. The operating profit increased to MSEK 5,661 (4,859) an increase of 17%. Excluding items affecting comparability, the adjusted operating profit margin was 21.9% (22.2).
The overall demand was largely unchanged compared to the same quarter previous year. The service business continued to grow in all business areas while the order intake for equipment was mixed.
Mats Rahmström, President and CEO of the Atlas Copco Group commented on the Q4 results: “I am very proud of our performance in the quarter and we can summarise the full year 2018 as a year where revenues, orders and profit reached all-time high.
“Service is continuing to grow in importance. Through our service solutions we stay close to our customers and we gain a deep understanding of how to support them to increase their productivity in a sustainable way. The order intake for equipment increased in most business areas. Looking ahead, the customer demand is expected to be somewhat lower than the current level.”
“We constantly challenge ourselves to improve our products and processes. During the quarter all business areas launched new products and solutions, bringing value to our customers by ensuring quality and reliability as well as reducing energy levels and optimizing efficiency. Lasting results are built by committed and empowered teams and that is how we turn industrial ideas into smart and innovative solutions. I will challenge and support our organisation to further intensify our R&D initiatives. Additional innovation power will accelerate innovation and drive organic growth.”