Atlas Copco Posts Net Profit Rise as Orders Continue to Rebound
April 27 2021 - 7:04AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Swedish industrial tool maker Atlas Copco AB on
Tuesday posted a rise in first-quarter net profit after seeing
strong demand for equipment from the semiconductor industry with
strong order growth across most regions, particularly in Asia.
The company said it received orders worth 30.47 billion kronor
($3.64 billion) in the quarter, beating a FactSet analyst forecast
of SEK28.54 billion.
"Our commitment to our strategic priorities, together with the
strong demand recovery from the downturn caused by the pandemic
during last year, resulted in a record order intake for the first
quarter," Chief Executive Mats Rahmstrom said.
"A large part was due to increased demand for vacuum equipment
to the semiconductor industry, but all business areas achieved good
growth for both equipment and service," he added.
Net profit rose to SEK4.12 billion from SEK3.84 billion, as
revenue rose 3.7% to SEK26.02 billion.
Analysts polled by FactSet had expected net profit of SEK4.17
billion on revenue of SEK25.88 billion.
Atlas Copco said it expects the near-term customer business
activity level to remain at the high current level.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
April 27, 2021 06:49 ET (10:49 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Atlas Copco (PK) (USOTC:ATLKY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Atlas Copco (PK) (USOTC:ATLKY)
Historical Stock Chart
From Apr 2023 to Apr 2024
