Atlas Copco AB

Latest Results (02.06.2026):

Atlas Copco AB — Fourth quarter 2025: Orders received were MSEK 38,606 (down vs Q4 2024 but with a 4% organic increase), revenues fell 7% to MSEK 42,782 (organically unchanged), adjusted operating profit was MSEK 8,772 (margin 20.5%) and reported operating profit was MSEK 8,470 (margin 19.8%). Profit before tax was MSEK 8,338, basic diluted EPS was SEK 1.36, operating cash flow for the quarter was MSEK 6,777, and return on capital employed (last 12 months) was 24%. The Board proposes an ordinary dividend SEK 3.00 and an extra distribution SEK 2.00 (total SEK 5.00 per share).

Q4 headline figures

Orders: MSEK 38,606 (organic +4%). Revenues: MSEK 42,782 (–7% reported, organically flat). Adjusted operating profit: MSEK 8,772 (20.5% margin). Reported operating profit: MSEK 8,470 (19.8% margin). Profit before tax: MSEK 8,338. Basic/diluted EPS: SEK 1.36.

Full‑year 2025 summary

Orders received in 2025: MSEK 165,814 (–3% total; organic +1% reported). Revenues: MSEK 168,343 (organic –1%). Profit before tax: MSEK 33,671 (margin 20.0%). Basic EPS for 2025: SEK 5.43 (diluted 5.42). Operating cash flow (2025): MSEK 26,796 (structural measure).

Dividends and capital distribution

The Board proposes to the AGM an ordinary dividend of SEK 3.00 and an extra distribution of SEK 2.00 per share (total SEK 5.00). The proposal is to pay the combined amount in two equal installments (record dates April 30 and October 20, 2026).

Cash, debt and returns

Operating cash flow in Q4 was MSEK 6,777 (Q4 2024: MSEK 9,915). Net indebtedness at period end was MSEK 20,665 (including MSEK 1,883 post‑employment benefits). Net debt/EBITDA ~0.5 and net debt/equity ~19%. Atlas Copco uses a WACC of 8.0% as benchmark; RoCE (12‑month) was 24%.

Order and revenue drivers

Demand mix: equipment demand was mixed (stronger industrial and gas/process compressors, notably stronger vacuum equipment for semiconductors; weaker portable compressors and some industrial assembly equipment tied to automotive). Service continued to show solid growth. Currency had a marked negative effect (Q4 currency –11% on orders/revenues) and acquisitions diluted margins to some extent.

Business area highlights (Q4 2025)

Compressor Technique: revenues MSEK 19,540 (–4% reported, organic +3); margin 24.3%. Vacuum Technique: revenues MSEK 9,025 (–11% reported, organic –3); operating margin 19.2% (adjusted 21.2 prior). Industrial Technique: revenues MSEK 6,808 (–12% reported, organic –3); operating profit MSEK 1,084 (includes MSEK –261 restructuring), adjusted margin 19.8%. Power Technique: revenues MSEK 7,628 (organic –4); operating profit MSEK 1,223 (margin 16.0%).

Items affecting comparability and other adjustments

Q4 included items affecting comparability (restructuring in Industrial and Vacuum business areas, changes in LTI provisions). Adjusted operating profit (ex. acquisition‑related amortization and these items) was MSEK 8,772 for Q4. Net financial items were MSEK –132 in Q4 (interest –95; other –37).

Near‑term outlook

Atlas Copco Group expects customer activity to remain at the current level in the near term (same wording as prior outlook published Oct 23, 2025).