Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ATLAS COPCO AB-A SHS. We currently have 6 research reports from 1 professional analysts.
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Research reports on
ATLAS COPCO AB-A SHS
ATLAS COPCO AB-A SHS
Strong Q3 16 orders in main divisions is encouraging
24 Oct 16
Main facts of the Q3 16 release Orders received were SEK26,696m, corresponding to an organic growth of 7% yoy, the main positive of this report. Revenues were SEK26,528m, unchanged organically. The adjusted operating profit margin reached 19.6% (versus 20.4% in Q3 15), and was negatively affected by dilutions from acquisitions and adverse currency movements. The net profit for the period was SEK3,391m (versus SEK3,806m in Q3 15) and corresponding to an EPS of SEK2.78 versus SEK3.12 last year (-11%). The operating cash flow was strong at SEK4,958m (versus SEK4,621m in Q3 15). Overall demand for the group is expected to remain at the current level.
Robust margins amid not so bad mining
19 Jul 16
Atlas Copco reported its Q2 16 results. Main facts: > orders decreased by 3% to SEK25,934m (versus SEK26,775m in Q2 15), corresponding to a 1% organic decline, including +1% in Compressors, +4% in Industrial Technique, -10% in Mining & Excavation Technique and -9% in Construction Technique. > revenue was unchanged organically at SEK25m438m (versus SEK26,111m in Q2 15). > The adj. operating profit reached 19.0% (versus 19.8% in Q2 15) as Mining’s and Industrial’s profitability both declined by 130bp. > The operating cash flow reached the satisfactory level of SEK3,487m, unchanged from last year (SEK3,481m). > The company expects the overall demand to remain at the current level.
Margin slightly disappointing as Mining weighs
27 Apr 16
Main facts: Atlas Copco reported new orders at MSEK 24721 in Q116, unchanged organically, and negatively impacted by weak mining activity. The company reported growth in services in all business areas, except in Mining and Rock Excavation, while order intake for equipment was slightly lower. Revenue decreased by 3% organically to MSEK 23137 (vs SEK24745m) while the adjusted operating margin reached 18% vs 19.3% in Q115, also negatively impacted by Mining. The Q116 EPS was SEK 2.39 (vs 2.66 last year) and the operating cash flow was MSEK 3127 (vs3498m). The company expects the overall demand for the group to remain at current levels.
Weak equipment orders weigh on visibility
29 Jan 16
Q415 results. Orders decreased by 2% compared to last year (5% organic decrease) to MSEK 23.847, with robust service business in all business areas and a lower order intake for equipment, except for industrial tools and assembly solutions. Sales increased by 1% to MSEK 25.582 compared to last year’s MSEK 25.360 (organic decline of 2%). Adjusted operating profit rose to MSEK 4.919 versus MSEK 4.886 last year, corresponding to a 19.2% operating margin (19.3% last year).
Strong execution on margins despite weak O&G/Mining demand
20 Oct 15
Atlas Copco reported Q3 orders that reached SEK24,149m (+3% versus Q3 14), including a positive fx contribution of +7% and a +1% perimeter change. Europe was the region with the highest order increase at +7% in local currencies, while markets such as China and Brazil were weak. Globally, orders declined 5% organically while revenues were flat at SEK25,723m and the adj. operating profit was SEK5,239m (SEK4,604m), corresponding to a margin of 20.4% of sales (versus 19.5% last year). This led to a yoy 32% increase in reported profit, and a strong cash-flow generation of SEK4,621m (versus SEK4,075m in Q3 14).
Robust Q2 margins and reassuring figures in Mining
16 Jul 15
Atlas Copco reported flat orders in Q2 15 (organically but reported +14%), while revenues declined 3% yoy (+11.8% reported) and adjusted operating margin was strong at 19.8% vs 18.8%. The operating cash-flow was also strong at SEK3,481m (vs SEK3,102m). The company's service business continued to grow while demand for Equipment remained mixed and rather low for large equipment.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
N+1 Singer - Small-cap quantitative research - Momentum screen refresh + 10 focus stocks
12 Jan 17
We have refreshed our momentum style screen for the first time since inception on 26 July 2016. As before, the screen selects the 25 stocks exhibiting the most extreme momentum characteristics, according to our measurement method. From these we have selected 10 to focus on. Since inception the screen has underperformed both the main small-cap and micro-cap indices against a background of generally rising momentum. We have noted a subset of the basket, where decelerating momentum at the time of measurement appears correlated with significant share price falls since selection. We shall monitor this factor with the new screen, albeit there are only two such stocks showing this pattern, namely Lamprell (not rated) and Gear4music (not rated).
N+1 Singer - Morning Song 12-01-2017
12 Jan 17
As anticipated, the second half has again been stronger than H1 and results will be broadly in line with expectations. In line with this, the order book has continued to grow and is at record levels. This confirms that significant progress has been made in the Group’s shift towards its Technology Products division which, as targeted, contributed c.60% of group revenue in FY16. The small acquisition of Cable Power also gives a complementary boost to the product range. It is also worth noting the significant reduction in net debt, £1.0m ahead of our forecast. We remain supportive of the Group’s strategy and continue to see a bright future as this transition towards a design led technology solutions business continues. We look forward to more detail in March at the final results.
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.