Atlas Copco interim report at June 30, 2009
- 26 July 2009
- Company & Industry News
(this interim report has not been audited by the company's auditors)
Strong cash flow in tough market conditions
- Organic order intake declined 37%.
- Aftermarket products and services held up well.
- Revenues decreased 14% to MSEK 16 155 (18 884), organic decline 27%.
- Operating profit at MSEK 2 066 (3 630), a margin of 12.8% (19.2).
- Positive net currency effect of MSEK 400 compared to previous year.
- Profit before tax amounted to MSEK 1 943 (3 354).
- Profit for the period was MSEK 1 468 (2 463).
- Basic and diluted earnings per share were SEK 1.20 (2.01).
- Strong operating cash flow at MSEK 2 492 (396).
Near-term demand outlook
The demand is expected to remain weak in most industries and regions and stay around the current level.
Update on measures to adapt capacity and costs
The actions to adapt capacity and costs to the weak business environment continued in the quarter. The number of employees was reduced by close to 1 600 in total, and MSEK 259 in restructuring costs were charged to the result. The number of employees compared to September 2008 has been reduced by 5 440 and a total of MSEK 747 has been charged as restructuring cost. These measures correspond to more than MSEK 2 000 in annual savings.