1. Atlas Copco Group
Q2 Results
July 17, 2009

2. Contents Q2 Business Highlights Market Development Business Areas
Financials
Outlook

3. Q2 - Highlights
Demand remained low in all regions and for most types of equipment
Order intake significantly down compared to a strong Q2 2008
Better sentiment within mining and cancellations have stopped
Sales of aftermarket products and services doing well
Capacity and cost reductions continued in the quarter
Functional costs are coming down
Employee reduction of in the quarter – since September 2008
Strong operating cash flow at MSEK (396)
Inventory reductions accelerated

4. Q2 - Figures in summary -37% organic order intake
Revenues of MSEK ; 27% organic decline
Operating profit at MSEK (3 630)
Including restructuring costs of MSEK 259
MSEK 400 in positive currency effect compared to last year
Adjusted for non-recurring items, operating margin at 14.4%
Profit before tax at MSEK (3 354)
Earnings per share SEK 1.20 (2.01)
Operating cash flow MSEK (396)

5. Contents Q2 Business Highlights Market Development Business Areas
Financials
Outlook

6. Orders received - Local currency
Group total -37% YTD (-35 excl. cancellations), -37% last 3 months
(Structural change 0% YTD, 0% last 3 months) 37
-39
-38 16
-49
-46 22
-28
-29 12
-31
-40 8
-31
-27 5
-24
-20
June 2009
A =
Portion of sales, Year-to-date, %
B =
Year-to-date vs. prev. year, %
C =
Last 3 months vs. prev. year, %
A =
Portion of sales, Year-to-date, %
B =
Year-to-date vs. prev. year, % A B C

7. Q2 - The Americas Continued decline in North America
Weak demand from all customer segments
Stable aftermarket
Sales remained low in South America
Construction segment still better than mining 16
-49
-46 8
-31
-27
June 2009
A =
Portion of sales, Year-to-date, %
B =
Year-to-date vs. prev. year, %
C =
Last 3 months vs. prev. year, % A B C

8. Q2 - Europe and Africa/Middle East
Weak demand from most customer segments across Europe
Sales relatively better in Italy and the Nordic countries
Substantial decline in Russia
Good development for light construction equipment in Eastern Europe
Order intake down in Africa / Middle East compared to strong previous year
Good demand for industrial equipment in Northern Africa 37
-39
-38 12
-31
-40
June 2009
A =
Portion of sales, Year-to-date, %
B =
Year-to-date vs. prev. year, %
C =
Last 3 months vs. prev. year, % A B C

9. Q2 - Asia and Australia Healthy level of demand in Asia
Orders down compared to record Q2 2008
Good demand for construction equipment and small compressors in China
Sales were relatively good in Australia but still below previous year
Somewhat better demand for mining equipment 22
-28
-29 5
-24
-20
A =
Portion of sales, Year-to-date, %
B =
Year-to-date vs. prev. year, %
C =
Last 3 months vs. prev. year, %
June 2009 A B C

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

11. Atlas Copco Group – Sales Bridge

12. Contents Q2 Business Highlights Market Development Business Areas
Financials
Outlook

13. Atlas Copco Group
Operating Profit and Return On Capital Employed (ROCE) by Business Area

14. reduced functional costs
Compressor Technique
34% organic order decline
Compared to a strong quarter the previous year
Aftermarket sales still held up well
Operating margin at 17.5%, adjusted for MSEK 114 in restructuring costs
Affected by under-absorption
Positively affected by currency and
Unique energy saving certification
for range of compressors
reduced functional costs 14
July 17, 2009,

15. Compressor Technique *Volume and price
Quarterly operating margins include Prime Energy from Q

16. Construction and Mining Technique
Order intake still substantially down compared to last year
Organic order decline of 39%, cancellations stopped
Aftermarket continued on healthy level
Increased inquiries from customers
Operating profit at MSEK 875, including MSEK 85 in restructuring costs
Adjusted margin at 14.3%, supported by currency and
functional cost reductions

17. Construction and Mining Technique
*Volume and price

18. Industrial Technique Considerable order decline
Both order intake and revenues down 45% organically
Continued weak demand, both from the motor vehicle industry and the general industry
Adjusted operating profit margin at 3.7% (19.7), excluding restructuring costs of MSEK 58
Margin heavily affected by under-absorption

19. Industrial Technique
*Volume and price

20. Contents Q2 Business Highlights Market Development Business Areas
Financials
Outlook

21. Group Total

22. Profit Bridge April – June, 2009 vs 2008
One-time items include restructuring costs as well as reversal of previous year’s one-time items.

23. Profit Bridge – by Business Area
April– June, 2009 vs 2008
One-time items include restructuring costs in all three business areas as well as reversal of previous year’s one-time items.

24. Balance Sheet

25. Capital Structure Net Debt*/EBITDA
*Net Debt adjusted for the fair value of interest rate swaps

26. Atlas Copco AB’s Loan Maturity Profile

27. Cash Flow

28. Contents Q2 Business Highlights Market Development Business Areas
Financials
Outlook

29. Near-term Outlook
The demand is expected to remain weak in most industries and regions and stay around the current level.

30. 30

31. 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 and adversely 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.”