Atlas Copco reports US$16.1B in revenue for FY 2024
SWEDEN – Swedish industrial group Atlas Copco has released its financial results for the fourth quarter and full year of 2024, posting record revenues and stable profitability.
The company reported that orders received amounted to approximately US$15.6 billion, with revenues increasing by 2% to reach a record US$16.1 billion for the financial year 2024.
Operating profit rose by 3% to about US$3.5 billion, resulting in a margin of 21.6%.
The adjusted operating margin stood at 21.9%.
Operating cash flow significantly improved to approximately US$2.8 billion.
Additionally, basic earnings per share were US$0.56, and the return on capital employed was 28%.
In the fourth quarter, orders received were around US$3.6 billion, an organic increase of 4%.
Revenues for the quarter reached a record US$4.2 billion, remaining unchanged organically while operating profit for this period was approximately US$910 million, with a margin of 21.8%.
Better still, the adjusted operating profit was about US$911 million, maintaining the same margin.
Profit for the quarter was US$710 million, leading to basic earnings per share of US$0.16.
The company also achieved a record operating cash flow of approximately US$900 million during this quarter.
The Compressor Technique and Vacuum Technique segments experienced slight increases in orders.
However, the Industrial Technique segment saw a decline in orders, primarily due to reduced demand from the automotive industry.
The Power Technique segment reported order growth, partly attributed to recent acquisitions. Service operations expanded across all business areas.
Throughout 2024, Atlas Copco completed 33 acquisitions.
The Board has proposed an ordinary dividend of US$0.27 per share for 2024, to be distributed in two equal installments.
The company anticipates that customer activity will weaken somewhat in the near term.
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