Atlas Copco AB

Latest Results (30.01.2026):

Atlas Copco AB — Third quarter 2025: Orders were largely stable but revenues and operating profit declined versus year‑earlier levels. Orders received were MSEK 40,517 (42,080), revenues fell 3% to MSEK 41,621 (organic +1%), and operating profit decreased 8% to MSEK 8,546 (margin 20.5%). Adjusted operating profit was MSEK 8,862 (margin 21.3%). Profit before tax was MSEK 8,456, basic EPS SEK 1.37, and operating cash flow remained strong at MSEK 7,330. The Group expects customer activity to remain at the current level.

Orders and market demand

Orders received in Q3 2025 totaled MSEK 40,517 (42,080) and were “organically unchanged” versus Q3 2024. Demand was mixed by product and region: order intake increased in the Americas and Europe, was essentially unchanged in Asia, and decreased in Africa/Middle East. Service orders continued to grow across regions.

Revenues and margins

Revenues for Q3 were MSEK 41,621 (43,105), down 3% reported but +1% organically. Reported operating profit was MSEK 8,546 (9,337) with a margin of 20.5% (21.7). Adjusted operating profit (ex‑items affecting comparability) was MSEK 8,862 (9,441), margin 21.3% (21.9). Restructuring charges (Vacuum MSEK ‑152; Industrial MSEK ‑53) and increased costs (tariffs, dilution from acquisitions) weighed on margins.

Profit, tax and earnings per share

Profit before tax in Q3 was MSEK 8,456 (9,184). Corporate tax was MSEK ‑1,781, giving profit for the period MSEK 6,675 (7,174). Basic and diluted EPS were SEK 1.37 (1.47). The effective tax rate eased to 21.1% (21.9%), partly due to a revaluation of deferred taxes following an announced German tax rate change.

Cash flow and balance sheet

Operating cash flow in Q3 was MSEK 7,330 (7,545). Net indebtedness improved to MSEK 11,149 (16,713 at Sep 30, 2024) and the net debt/EBITDA ratio fell to 0.2 (0.4). Operating cash surplus was MSEK 10,936; working capital movements were positive but less favorable than a year earlier due to higher inventories and receivables.

Business area snapshot

Compressor Technique: Q3 revenues MSEK 19,151 (19,031), operating profit MSEK 4,844 (margin 25.3%). Vacuum Technique: revenues MSEK 9,193 (10,444), operating profit MSEK 1,697 (margin 18.5; adjusted 20.1% excluding restructuring). Industrial Technique: revenues MSEK 6,515 (6,832), operating profit MSEK 1,173 (margin 18.0; adjusted 18.8%). Power Technique: revenues MSEK 6,979 (7,072), operating profit MSEK 1,187 (margin 17.0). Service businesses generally showed positive growth.

M&A, buybacks and other items

Several small acquisitions closed in Q3 (examples include Casa dei Compressori and Shareway/ New Star in Vacuum). During the quarter the company sold 959,381 series A shares (net) for MSEK 150 under AGM‑approved mandates; buyback/disposal programs and acquisitions in the year contributed to dilution and short‑term integration costs.

Outlook

Near‑term outlook (as of Q3 2025): Atlas Copco Group expects customer activity to remain at the current level while noting continued uncertainty in the global economy. Management highlights continued strength in service and specialty rental but mixed equipment demand across products and regions.