Atlas Copco has announced an operating profit of $3.0 billion for 2017 on full-year revenues of $14.67 billion, which are year-on-year increases of 22% and 15% respectively.
Claiming that the figures are a record, the Swedish equipment maker added that orders received also went up 20% to $15.56million. The fourth quarter of 2017 was especially strong for Atlas Copco, with both revenues and operating profits rising 8% each compared to the fourth quarter of 2016. Fourth-quarter revenues were $3.89 billion, while operating profit for the quarter was $784.95 million.
Atlas Copco underwent major structural changes last year, which saw it rebrand its construction business from Construction Technique to Power Technique. It also sold off Dynapac, its roadbuilding segment, to the Fayat Group.
Mats Rahmström, president and CEO of Atlas Copco, said: “Our winning teams ensured we had a strong end to a record year. We are happy to see that our focus on creating value for customers is successful.”
Adding that the company would continue to make acquisitions, he said: “We continue to focus on organic growth complemented with strategic acquisitions.”
Atlas Copco said the on-going split of the group was proceeding according to plan. A final decision to spin-off its newly-formed Epiroc business will be made in late April at its annual general meeting. Epiroc will specialise in serving the company’s mining and civil engineering customers, while Atlas Copco will remain focused on its industrial customers.