Atlas Copco 1Q Orders Rise 8%, Sees Steady Demand

By Dominic Chopping

STOCKHOLM--Swedish industrial tool maker Atlas Copco AB (ATCO-A.SK) on Thursday posted an 8% rise in first-quarter orders and said demand for its products and services is expected to stay at the current level.

Shares rose 7.5% on the news.

Net profit in the quarter ended Mar. 31 fell to 3.7 billion Swedish kronor ($393.8 million) from SEK4.42 billion, with last year's profit boosted by SEK1.08 billion from its now separately listed Epiroc AB (EPI-A.SK) mining, infrastructure and natural resources business. Revenue rose to SEK24.18 billion from SEK21.91 billion.

Analysts polled by FactSet had expected net profit of SEK3.72 billion on revenue of SEK23.28 billion.

The company said it received orders worth SEK26.81 billion in the quarter.

"The order intake in the quarter was better than expected, mainly due to a strong order intake for large industrial and gas and process compressors, some important orders from the semiconductor and flat panel display industry, and large orders for power equipment from rental customers," the company said.

"Demand in other parts of the group were more in line with expectations, i.e. flat or somewhat down," Atlas said.

Write to Dominic Chopping at dominic.chopping@wsj.com; @domchopping @WSJNordics

(END) Dow Jones Newswires

April 25, 2019 05:44 ET (09:44 GMT)

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