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February 2, 2009, www.atlascopco.com1 Atlas Copco Group Q4 Results February 2, 2009.

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Presentation on theme: "February 2, 2009, www.atlascopco.com1 Atlas Copco Group Q4 Results February 2, 2009."— Presentation transcript:

1 February 2, 2009, Atlas Copco Group Q4 Results February 2, 2009

2 February 2, 2009, Contents  Q4 Business Highlights  Market Development  Business Areas  Financials  2008 Summary  Outlook

3 February 2, 2009, Q4 - Highlights  Declining demand from most customer segments –Sharpest drop and order cancellations within the mining business  Continued growth of the aftermarket business  Measures taken in all three business areas to reduce capacity and costs  Unchanged dividend proposed

4 February 2, 2009, Q4 - Figures in summary  -19% organic order intake, -27% including cancellations  Revenues of MSEK ; 3% organic growth  Operating profit at MSEK (3 361) –Including redundancy costs of MSEK 258 –MSEK 350 in positive currency effect compared to last year –Adjusted for non-recurring items, operating margin at 18.0% (19.3)  Profit before tax at MSEK (2 134) –Including capital gains of MSEK 939 (tax-free) and MSEK 33  Earnings per share for continuing operations SEK 2.39 (1.12)  Operating cash flow MSEK (926)

5 February 2, 2009, Contents  Q4 Business Highlights  Market Development  Business Areas  Financials  2008 Summary  Outlook

6 February 2, 2009, Orders received - Local currency Group total +7% YTD, -27% last 3 months (Structural change +5% YTD, 0% last 3 months) December 2008 A =Portion of sales, Year-to-date, % B =Year-to-date vs. prev. year, % ABC A =Portion of sales, Year-to-date, % B =Year-to-date vs. prev. year, % C =Last 3 months vs. prev. year, % (-19% organically)

7 February 2, 2009, Q4 - The Americas  Demand declined in North America –The construction and automotive industries remained weak –Low demand and order cancellations from the mining industry –Relatively stable demand for compressors  Drop in demand from most mining customers in South America, other segments holding up better December 2008 ABC A =Portion of sales, Year-to-date, % B =Year-to-date vs. prev. year, % C =Last 3 months vs. prev. year, %

8 February 2, 2009, Q4 - Europe and Africa/Middle East  Weak Europe –Continued low activity in the construction segment –Deteriorating demand from many manufacturing industries –Mining segment in Eastern Europe weak  Demand declined also in Africa / Middle East but to a lesser extent. December 2008 ABC A =Portion of sales, Year-to-date, % B =Year-to-date vs. prev. year, % C =Last 3 months vs. prev. year, %

9 February 2, 2009, Q4 - Asia and Australia  Substantial slowdown in Asia –Weaker demand from most customer segments in the major countries –Good development of the aftermarket business –Good quarter in Japan  Weaker demand in Australia –Mining segment relatively better than in other regions December 2008 A =Portion of sales, Year-to-date, % B =Year-to-date vs. prev. year, % C =Last 3 months vs. prev. year, % ABC

10 February 2, 2009, Organic * Growth per Quarter  Change in orders received in % vs. same quarter previous year Atlas Copco Group, continuing operations *Volume and price Order cancellations

11 February 2, 2009, Atlas Copco Growth – Orders received Continuing operations (excl. Professional Electric Tools and Rental Service)

12 February 2, 2009, Atlas Copco Group – Sales Bridge

13 February 2, 2009, Contents  Q4 Business Highlights  Market Development  Business Areas  Financials  2008 Summary  Outlook

14 February 2, 2009, Atlas Copco Group Operating Profit and Return On Capital Employed (ROCE) by Business Area

15 February 2, 2009, Compressor Technique 15February 2, 2009,  15% organic order decline –Lower demand in most customer segments and regions –Good aftermarket sales  Sustained high operating margin –21.4% adjusted for MSEK 93 in  Acquisition of Aggreko’s European redundancy costs compressor rental business

16 February 2, 2009, Compressor Technique Quarterly operating margins include Prime Energy from Q *Volume and price

17 February 2, 2009,  Sharp decline in order intake –Organic order decline of 27% and -16% from cancellations, mainly from mining customers –Good growth for aftermarket products  Operating profit up 4%, including MSEK 100 in redundancy costs –Comparable operating margin unchanged at 17.2%, supported by currency Construction and Mining Technique

18 February 2, 2009, Construction and Mining Technique *Volume and price

19 February 2, 2009, Industrial Technique  20% organic order decline –Both general and motor vehicle industry down –Service business still growing  Adjusted operating profit margin at 16.0%, excluding redundancy costs of MSEK 59 –Previous year at 23.1% adjusted for restructuring costs –Margin negatively affected by sales mix, production disturbances related to restructuring of pneumatic tools manufacturing, currency and under-absorption of fixed costs

20 February 2, 2009, Industrial Technique *Volume and price

21 February 2, 2009, Contents  Q4 Business Highlights  Market Development  Business Areas  Financials  2008 Summary  Outlook

22 February 2, 2009, Group Total * Adjusted operating margins 18.0% in 2008 and 19.3% in 2007

23 February 2, 2009, Profit Bridge October – December, 2008 vs 2007 One-time items include redundancy costs as well as reversal of previous year’s one-time items.

24 February 2, 2009, Profit Bridge – by Business Area October – December, 2008 vs 2007 One-time items include redundancy costs in all three business areas as well as reversal of previous year’s one-time items.

25 February 2, 2009, Balance Sheet The large increase in total assets is partly explained by currency translation effects that have had an impact of MSEK since September and MSEK since December 2007

26 February 2, 2009, Capital Structure Net Debt*/EBITDA *Net Debt adjusted for the fair value of interest rate swaps

27 February 2, 2009, Atlas Copco AB’s Loan Maturity Profile

28 February 2, 2009, Cash Flow Continuing operations

29 February 2, 2009, Atlas Copco Group Earnings per Share, Dividend and Redemption * Proposed by the Board of Directors

30 February 2, 2009, Contents  Q4 Business Highlights  Market Development  Business Areas  Financials  2008 Summary  Outlook

31 February 2, 2009, Revenues and operating margin 2004 pro forma, excluding divested businesses Figures in summary

32 February 2, 2009, Figures in summary  Strong demand from most customer segments and high growth in all regions until September, partly offset by a weak fourth quarter  Order intake up 7%, 2% organic growth  Revenues up 17% to , 12% organic growth  Operating profit up 14% to MSEK , a margin of 18.6% (19.0)  Profit before tax at MSEK (10 534)  Proposed dividend for 2008, at SEK 3.00 (3.00) per share

33 February 2, 2009, Contents  Q4 Business Highlights  Market Development  Business Areas  Financials  2008 Summary  Outlook

34 February 2, 2009, Near-term Outlook The current economic situation makes the outlook very uncertain but demand is expected to remain very weak in most industries and regions.

35 35

36 February 2, 2009, Cautionary Statement “Some statements herein are forward-looking and the actual outcome could be materially different. In addition to the factors explicitly commented upon, the actual outcome could be materially affected by other factors such as the effect of economic conditions, exchange-rate and interest-rate movements, political risks, the impact of competing products and their pricing, product development, commercialization and technological difficulties, supply disturbances, and major customer credit losses.”


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