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Atlas Copco Group Q3 Results October 23, 2001. Page 2 October 23, 2001www.atlascopco-group.com Contents  Market Development  Business Areas  Financials.

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Presentation on theme: "Atlas Copco Group Q3 Results October 23, 2001. Page 2 October 23, 2001www.atlascopco-group.com Contents  Market Development  Business Areas  Financials."— Presentation transcript:

1 Atlas Copco Group Q3 Results October 23, 2001

2 Page 2 October 23, 2001www.atlascopco-group.com Contents  Market Development  Business Areas  Financials  Outlook

3 Page 3 October 23, 2001www.atlascopco-group.com Q3 Highlights and Strategic Moves  Earnings per share up despite weaker demand  Earnings per share up 9 percent  Operating margin at 12.5 percent  Order volume decrease 1%  Strategic moves give results  Consolidation and rationalizations of manufacturing  Product development and service activity contribute  Increase of presence in China  Strong operating cash flow

4 Page 4 October 23, 2001www.atlascopco-group.com Group Total

5 Page 5 October 23, 2001www.atlascopco-group.com  Change in orders received in % vs. same Quarter previous year Volume Growth per Quarter

6 Page 6 October 23, 2001www.atlascopco-group.com 51 +14 +32 +130 +54 -39 Orders received, 12 month trend Change in Local Currency ±0 Portion of Group Sales, % Change in %, last 3 month trend September 2001

7 Page 7 October 23, 2001www.atlascopco-group.com 51 +14 Q3 - The Americas  Declining demand in North America  Lower demand than expected for equipment rental  Sharp fall in demand for industrial and professional electric tools  South America  Good order intake from the mining industry  Brazil weakening from good level 12 months, Portion of Group Sales, % 12 months, Change in %, last 3 month trend September 2001

8 Page 8 October 23, 2001www.atlascopco-group.com +130 +54 12 months, Portion of Group Sales, % 12 months, Change in %, last 3 month trend September 2001 Q3 - Europe and Africa/Middle East  Solid demand in Europe  Growth in Germany, France and Eastern Europe  Robust demand for investment- related products  Professional electric tools and light construction equipment weak  Good growth in Africa/Middle East  Oil-producing region and South Africa outperforming

9 Page 9 October 23, 2001www.atlascopco-group.com +32 -39 Q3 - Asia and Australia  Weakening demand in Asia  Continued growth in China  Weak development in Southeast Asia and Japan 12 months, Portion of Group Sales, % 12 months, Change in %, last 3 month trend September 2001

10 Page 10 October 23, 2001www.atlascopco-group.com Contents  Market Development  Business Areas  Financials  Outlook

11 Page 11 October 23, 2001www.atlascopco-group.com Volume Growth per Quarter by Business Area  Change in orders received vs. same quarter previous year, %

12 Page 12 October 23, 2001www.atlascopco-group.com Compressor Technique  3% volume growth - profits up  Europe and China best performers  Newly developed products helped improve market share  Good order intake for large industrial compressors  Continued growth in aftersales activities  Increased presence in China  New product development facility

13 Page 13 October 23, 2001www.atlascopco-group.com Construction & Mining Technique  Improved profitability despite volume drop  Good activity level, but little investments in the mining industry  Construction generally weak  Positive development of surface drilling equipment  Share of use of product revenues increase  Consolidation of manufacturing  Acquisition of Christensen Products

14 Page 14 October 23, 2001www.atlascopco-group.com Industrial Technique  Volume drop  Terrorist attacks had big effect on U.S. business in September  Good demand for industrial tools, but weak demand for professional tools in Europe  Stable margin, thanks to currency and rationalizations  Consolidation and restructuring activities of professional electric tools in Q4

15 Page 15 October 23, 2001www.atlascopco-group.com Rental Service  Rental revenues fell in weak underlying market  Growth in industrial rental  Continuous rationalization of stores and rental fleet to balance presence  3 stores opened and 16 stores consolidated  Increase in sales of used equipment and low new investments  Continued strong cash generation

16 Page 16 October 23, 2001www.atlascopco-group.com Earnings by Business Area * The operating profits include non-recurring costs of MSEK 13 for Compressor Technique, MSEK 127 for Rental Service and in Corporate items a net pension refund of + MSEK 134. Total net + MSEK 6 for the Group. The corresponding margins are 19.5%, 15.9% and 14.5% respectively.

17 Page 17 October 23, 2001www.atlascopco-group.com Contents  Market Development  Business Areas  Financials  Outlook

18 Page 18 October 23, 2001www.atlascopco-group.com Income Statement

19 Page 19 October 23, 2001www.atlascopco-group.com Balance Sheet September 30, 2001

20 Page 20 October 23, 2001www.atlascopco-group.com Atlas Copco Group Return on Capital Employed 12 month values 19971998199920002001 Q3

21 Page 21 October 23, 2001www.atlascopco-group.com Cash Flow

22 Page 22 October 23, 2001www.atlascopco-group.com MSEK Quarterly 12 months Net rental fleet investment = approx. SEK 1 billion Capital Expenditures in Tangible Fixed Assets 19971998199920002001 Q3

23 Page 23 October 23, 2001www.atlascopco-group.com Contents  Market Development  Business Areas  Financials  Outlook

24 Page 24 October 23, 2001www.atlascopco-group.com Near-term development Atlas Copco is basing its near-term activities on the current demand situation, which is as follows: Still weak in North America and relatively good in Europe, the Middle East, and Africa. In South America and Asia, the demand is now declining from recent good level. Contingency plans to cope with a more negative scenario have been implemented or are ready to be executed.

25 Page 25 October 23, 2001www.atlascopco-group.com The face of interaction

26 Page 26 October 23, 2001www.atlascopco-group.com 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 effected by other factors like for example, the effect of economic conditions, exchange-rate and interest-rate movements, political risks, impact of competing products and their pricing, product development, commercialization and technological difficulties, supply disturbances, and the major customer credit losses.”

27 Page 27 October 23, 2001www.atlascopco-group.com Contents  Market Development  Business Areas  Financials  Outlook  Additional Information

28 Page 28 October 23, 2001www.atlascopco-group.com Orders received, Jan. - Sept. 2001 Group Total MSEK 38,573 +12 12 months, Portion of Group Sales, % Change 2001 / 2000, % +1151 +164 02 +1330 +254 +139

29 Page 29 October 23, 2001www.atlascopco-group.com Long Term Trend

30 Page 30 October 23, 2001www.atlascopco-group.com Compressor Technique

31 Page 31 October 23, 2001www.atlascopco-group.com Compressor Technique

32 Page 32 October 23, 2001www.atlascopco-group.com Construction & Mining Technique

33 Page 33 October 23, 2001www.atlascopco-group.com Construction & Mining Technique

34 Page 34 October 23, 2001www.atlascopco-group.com Industrial Technique

35 Page 35 October 23, 2001www.atlascopco-group.com Industrial Technique

36 Page 36 October 23, 2001www.atlascopco-group.com Rental Service * EBIT in Q3 2000 includes MSEK 127 and EBIT in Q1 2001 includes MSEK 60 of non-recurring cost.

37 Page 37 October 23, 2001www.atlascopco-group.com Rental Service

38 Page 38 October 23, 2001www.atlascopco-group.com Group Total

39 Page 39 October 23, 2001www.atlascopco-group.com Non-recurring items

40 Page 40 October 23, 2001www.atlascopco-group.com Group Total excl. non-recurring items

41 Page 41 October 23, 2001www.atlascopco-group.com Earnings Before Interest and Taxes MSEK % 1988 19901992 199419961998 2000 12 month values EBIT margin excluding non-recurring items 1999 = 12.1%, 2000 = 13.8%, Q3 2001 = 13,1% 2001 Q3

42 Page 42 October 23, 2001www.atlascopco-group.com Taxes MSEK % 19971998199920002001 Q3

43 Page 43 October 23, 2001www.atlascopco-group.com Inventories, Customer Receivables and Net Rental Equipment Percent of Sales 12 Month Values 19971998199920002001 Q3

44 Page 44 October 23, 2001www.atlascopco-group.com Cash and Interest-Bearing Debt 10,214 Dec. 1997 10,052 Dec. 1998 19,325 Dec. 1999 22,270 Dec. 2000 Net borrowings 22,009 Sep. 2001 MSEK

45 Page 45 October 23, 2001www.atlascopco-group.com Earnings per Share and Dividend 19961997199819992000 2001 Q3

46 Page 46 October 23, 2001www.atlascopco-group.com The face of interaction

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