Atlas Copco sees strong demand as order intake hits record (updated)

Pfeiffer Vacuum Technology AG

16/07/2021 13:09

(Adds detail, background)
    STOCKHOLM, July 16 (Reuters) - Swedish engineering group
Atlas Copco  ATCOa.ST  said on Friday it expected near-term
demand to remain at the current high level after reporting
record order intake for the second quarter on the back of a
broad upturn across its markets. 
    Atlas Copco, which makes compressors, vacuum pumps and
industrial tools, said it had seen strong growth in order
bookings in all business areas, in all regions, and for all
types of equipment and service.
    Order intake at Atlas rose 54% on a like-for-like basis to
32.5 billion Swedish crowns  ($3.74 billion), exceeding
analysts' expectations of 29.2 billion crowns.
    "Last year the second quarter was heavily impacted by the
pandemic and in comparison, the customer demand and the group's
order intake increased significantly," Chief Executive Mats
Rahmstrom said in a statement. 
    "But also compared with the previous quarter the order
intake grew to an all-time record level."
    Atlas reported an adjusted operating profit of 6.03 billion
crowns, up from 4.48 billion a year earlier, and marginally
missing the mean forecast of 6.08 billion in a Refinitiv
analysts' poll.  urn:newsml:reuters.com:*:nL8N2OQ2XE
    Shares in Atlas, which competes against U.S. Ingersoll Rand
 IR.N  and Germany's Pfeiffer Vacuum  PV.DE , were up 1.2% at
1204 GMT, having gained 30% this year.
    
($1 = 8.6753 Swedish crowns)

 (Reporting by Helena Soderpalm; editing by Niklas Pollard)
 ((helena.soderpalm@thomsonreuters.com; +46 8 700 10 15; Reuters
Messaging: helena.soderpalm.reuters.com@reuters.net))