Atlas Copco AB (ADR) (OTCMKTS:ATLKY): Announced 1Q14 Results
Atlas Copco AB (ADR) (OTCMKTS:ATLKY) today announced its financial results for 1Q14 ended March 31, 2014. The company reported 8 percent year over year increase in its orders which were SEK 22,653 million during 1Q14 as compared to SEK 21,008 million during 1Q13. Even its newly acquired vacuum solutions business also reported a strong quarter alongside the growth momentum in overall service business. However, the company reported 2 percent organic decline on a year over year basis.
The company reported lower profit margin, stabilized order intake and revenue of SEK 21,423 million during 1Q14. Comparatively quarterly revenues grew from SEK 20,227 million during 1Q13. Operating cash flow also grew to SEK 1,963 million during 1Q14 from SEK 1,635 million during 1Q13.
Atlas Copco AB (ADR) (OTCMKTS:ATLKY) reported significant decline in its operating profit during 1Q14 which was SEK 3,760 million as compared to SEK 4,156 million during 1Q13. Operating margin also declined to 17.6% during 1Q14 as compared to 20.5% during 1Q13. The overall impact could be seen on the Company’s profit which declined to SEK 2,755 million during 1Q14 as compared to SEK 2,988 million in 1Q13. Basic earnings per share were reported at SEK 2.27 for 1Q14 as compared to SEK 2.46 during 1Q13.
Atlas Copco AB (ADR) (OTCMKTS:ATLKY) also announced that it expects somewhat increase in the overall demand for the Group’s products and services in the near term, especially the demand from construction and manufacturing segments. However, it expects demand from mining segment to remain constant.
Stockholm, Sweden based Atlas Copco is a global provider of sustainable productivity solutions with a reach in more than 180 countries. The Group houses more than 40,000 employees. During FY13 the Group reported aggregate revenues of EUR 9.7 billion which translates to about SEK 84 billion.© Copyright 2016 OTC News Magazine. All rights reserved.