Atlas Copco 2Q Net Profit Rose, Orders Hit Record Level

By Dominic Chopping

STOCKHOLM--Swedish industrial tool maker Atlas Copco AB on Friday posted a rise in second-quarter net profit after order intake grew to record levels amid strength across all regions and industries.

The company said it received orders worth 32.53 billion kronor ($3.75 billion) in the quarter beating a FactSet analyst forecast of SEK29.63 billion.

"Compared to the previous year, strong order growth was achieved for all business areas in all regions, for all types of equipment and service," the company said.

Currency weighed on profits, with a net negative effect compared with the previous year of SEK715 million, mainly due to the weaker U.S. dollar, it said.

Net profit rose to SEK4.57 billion from SEK3.13 billion, as revenue rose 14% to SEK27.53 billion.

Analysts polled by FactSet had expected net profit of SEK4.65 billion on revenue of SEK27.79 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 [e-mail]

(END) Dow Jones Newswires

July 16, 2021 08:11 ET (12:11 GMT)

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