COMMITTED TO SUSTAINABLE PRODUCTIVITY Q2 2015 results July 16, 2015
2 Q2 IN BRIEF Growth in service Increased order intake in Europe – decreased in Asia Order volumes for equipment better than in Q1 2015 Record orders received, revenues and operating profit – Strong impact from currency Solid operating cash flow July 16, 2015 Atlas Copco - Q2 results 2015
INNOVATION HIGHLIGHT LT6005 / LT5005 compaction tool Significant sales increase Ergonomic and user-friendly design High impact force and speed give outstanding compaction efficiency Durable and service friendly
4 Q2 FIGURES IN SUMMARY Orders received increased 14% to MSEK 26 775, flat organically Revenues increased to MSEK 26 111, organic decline of 3% Adjusted operating profit was MSEK 5 162 (4 382), margin at 19.8% (18.8) – Reported operating profit was MSEK 5 072 (4 339), margin at 19.4% (18.6) – Change in provision for long-term incentive program MSEK +70 (-43) – Restructuring costs of MSEK 160 (0) Profit before tax at MSEK 4 850 (4 174) Basic earnings per share SEK 3.00 (2.64) Operating cash flow at MSEK 3 481 (3 102) July 16, 2015 Atlas Copco - Q2 results 2015
5 ORDERS RECEIVED - LOCAL CURRENCY 100 0 +2 30 +4 +10 24 -1 +2 25 -2 -2 10 +5 -1 7 -10 -9 June 2015 4 -10 -10 A B C A = Share of orders received, year-to-date, % B = Year-to-date vs. previous year, % C = Last 3 months vs. previous year, % July 16, 2015 Atlas Copco - Q2 results 2015
Atlas Copco - Q2 results 2015 July 16, 2015 ORGANIC* ORDER GROWTH PER QUARTER Atlas Copco Group, continuing operations * Volume and price -40 -30 -20 -10 10 20 30 40 0 04 Q1 04 Q2 04 Q3 04 Q4 05 Q1 05 Q2 05 Q3 05 Q4 06 Q1 06 Q2 06 Q3 Organic growth, % 06 Q4 07 Q1 07 Q2 07 Q3 07 Q4 08 Q1 08 Q2 08 Q3 08 Q4 09 Q1 09 Q2 09 Q3 09 Q4 10 Q1 10 Q2 Order cancellations, % 10 Q3 10 Q4 11 Q1 11 Q2 11 Q3 11 Q4 12 Q1 12 Q2 12 Q3 12 Q4 13 Q1 13 Q2 13 Q3 13 Q4 14 Q1 14 Q2 14 Q3 14 Q4 15 Q1 15 Q2 6
7 ATLAS COPCO GROUP – SALES BRIDGE April - June Orders MSEK received Revenues 23 450 23 348 2014 Structural change, % +2 +2 Currency, % +12 +13 Price, % +1 +0 Volume, % -1 -3 Total, % +14 +12 2015 26 775 26 111 July 16, 2015 Atlas Copco - Q2 results 2015
8 ATLAS COPCO GROUP Revenues by business area Construction Technique 15% 45% Compressor 27% Mining and Technique Rock Excavation Technique 13% Industrial Technique 12 months until June 2015 July 16, 2015 Atlas Copco - Q2 results 2015
9 COMPRESSOR TECHNIQUE Record order intake, supported by currency 15 000 30% – Growth in service – Stable demand for small and medium-sized 12 500 25% compressors, low for large – Increased order intake for vacuum solutions 10 000 20% Record operating profit 7 500 15% – Operating margin at 22.7% (21.4) 5 000 10% 2 500 5% 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 Oil-injected screw compressors with up to 5% Orders received, MSEK Revenues, MSEK improved performance Operating margin, % Adjusted operating margin, % July 16, 2015 Atlas Copco - Q2 results 2015
10 INDUSTRIAL TECHNIQUE Increased order intake 5 000 25% – Strong demand from motor vehicle industry and aerospace, weak from off-road 4 000 20% – Growth in service Record revenues and operating profit 3 000 15% – Operating margin at 23.4% (22.5) 2 000 10% 1 000 5% 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 Versatile bolt Orders received, MSEK Revenues, MSEK Operating margin, % tensioning tools July 16, 2015 Atlas Copco - Q2 results 2015
11 MINING AND ROCK EXCAVATION TECHNIQUE Order intake for equipment higher than Q1 2015 10 000 25% Strong service business 9 000 Further efficiency measures 8 000 20% – Restructuring costs of MSEK 65 7 000 Adjusted operating margin at 19.3% (18.1) 6 000 15% 5 000 4 000 10% 3 000 2 000 5% 1 000 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 A surface drill rig for 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 construction applications Orders received, MSEK Revenues, MSEK and small quarries with low emissions Operating margin, % Adjusted operating margin, % July 16, 2015 Atlas Copco - Q2 results 2015
12 CONSTRUCTION TECHNIQUE Decreased order intake 5 000 20% – Weak portable compressors and road construction 4 500 18% – Growth in Europe, decrease in all other regions 4 000 16% Restructuring costs of MSEK 95 3 500 14% – Adjusted operating margin 13.0% (13.4) 3 000 12% 2 500 10% 2 000 8% 1 500 6% 1 000 4% 500 2% 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 An intelligent monitoring 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 system for road construction Orders received, MSEK Revenues, MSEK equipment saves time and cost for the customers Operating margin, % Adjusted operating margin, % July 16, 2015 Atlas Copco - Q2 results 2015
13 GROUP TOTAL April – June 2015 vs. 2014 April - June MSEK 2015 2014 % Orders received 26 775 23 450 14% Revenues 26 111 23 348 12% Operating profit 5 072 4 339 17% – as a percentage of revenues 19.4 18.6 Profit before tax 4 850 4 174 16% – as a percentage of revenues 18.6 17.9 Profit for the period 3 651 3 207 14% Basic earnings per share, SEK 3.00 2.64 Return on capital employed, % 25 25 July 16, 2015 Atlas Copco - Q2 results 2015
14 PROFIT BRIDGE April – June 2015 vs. 2014 Volume, price, One-time items Share based MSEK Q2 2015 mix and other Currency Acquisitions LTI programs Q2 2014 Atlas Copco Group Revenues 26 111 -667 2 900 530 23 348 EBIT 5 072 -255 945 -70 113 4 339 % 19.4% 38.2% 18.6% July 16, 2015 Atlas Copco - Q2 results 2015
15 PROFIT BRIDGE – BY BUSINESS AREA April – June 2015 vs. 2014 Volume, price, One-time items MSEK Q2 2015 mix and other Currency Acquisitions Q2 2014 Compressor Technique Revenues 11 462 -361 1 395 75 10 353 EBIT 2 603 -26 405 5 2 219 % 22.7% 7.2% 21.4% Industrial Technique Revenues 3 697 242 350 455 2 650 EBIT 865 70 110 90 595 % 23.4% 28.9% 22.5% Mining and Rock Excavation Technique Revenues 6 870 -216 690 0 6 396 EBIT 1 258 -187 355 -65 1 155 % 18.3% 86.6% 18.1% Construction Technique Revenues 4 256 -272 460 0 4 068 EBIT 457 -93 100 -95 545 % 10.7% 34.2% 13.4% July 16, 2015 Atlas Copco - Q2 results 2015
16 BALANCE SHEET MSEK Jun. 30, 2015 Dec. 31, 2014 Jun. 30, 2014 Intangible assets 33 860 32% 33 197 32% 27 232 29% Rental equipment 3 113 3% 3 177 3% 2 815 3% Other property, plant and equipment 9 508 9% 9 433 9% 8 324 9% Other non-current assets 3 690 4% 3 530 3% 3 631 4% Inventories 18 968 18% 18 364 17% 18 643 20% Receivables 27 398 26% 26 015 25% 24 786 27% Current financial assets 1 910 2% 2 150 2% 1 943 2% Cash and cash equivalents 6 301 6% 9 404 9% 5 364 6% Assets classified as held for sale 34 0% 11 0% 12 0% TOTAL ASSETS 104 782 105 281 92 750 Total equity 43 074 41% 50 753 48% 40 220 43% Interest-bearing liabilities 28 943 28% 26 997 26% 27 793 30% Non-interest-bearing liabilities 32 765 31% 27 531 26% 24 737 27% TOTAL EQUITY AND LIABILITIES 104 782 105 281 92 750 July 16, 2015 Atlas Copco - Q2 results 2015
17 CASH FLOW April - June MSEK 2015 2014 Operating cash surplus 6 170 4 999 of which depreciation added back 1 059 847 Net financial items 367 -422 Taxes paid -1 199 -1 037 Pension funding 36 -14 Change in working capital -520 409 Increase in rental equipment, net -272 -318 Cash flows from operating activities 4 582 3 617 Investments of property, plant & eq., net -399 -331 Other investments, net -194 -378 Cash flow from investments -593 -709 Adjustment, currency hedges of loans -508 194 Operating cash flow 3 481 3 102 Company acquisitions/ divestments -22 -356 July 16, 2015 Atlas Copco - Q2 results 2015
18 NEAR-TERM OUTLOOK The overall demand for the Group is expected to increase somewhat. July 16, 2015 Atlas Copco - Q2 results 2015
19 COMMITTED TO SUSTAINABLE PRODUCTIVITY. July 16, 2015 Atlas Copco - Q2 results 2015
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