Interim report
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Press release from Atlas Copco AB Atlas Copco Group Atlas Copco AB Visitors address: Telephone: +46 8 743 8000 A Public Company (publ) SE-105 23 Stockholm Sweden Sickla Industriväg 19 Nacka www.atlascopcogroup.com Reg. No. 556014-2720 Reg. Office Nacka July 18, 2025 Atlas Copco Group Second-quarter report 2025 Mixed demand, currency headwind, and healthy cash flow The comparison figures presented in this report refer to previous year unless otherwise stated. Second quarter • Orders received decreased 8% to MSEK 40 087 (43 654), organic decline of 1% • Revenues decreased 8% to MSEK 41 210 (44 803), organic decline of 2% • Operating profit reached MSEK 8 493 (9 466), corresponding to a margin of 20.6% (21.1) - Adjusted operating profit, excluding items affecting comparability, was MSEK 8 411 (9 785), corresponding to a margin of 20.4% (21.8) • Profit before tax amounted to MSEK 8 407 (9 274) • Basic earnings per share were SEK 1.34 (1.57) • Operating cash flow at MSEK 6 114 (6 861) • Return on capital employed was 26% (29) * Operating profit excluding amortization of intangibles related to acquisitions . Near-term outlook While the outlook for the global economy continues to be uncertain, Atlas Copco Group expects that the customer activity will remain at the current level. Previous near-term outlook (published April 29, 2025): While the world’s economic development makes the outlook uncertain, Atlas Copco Group expects the customer activity level to weaken somewhat. Quarterly and annual financial data in Excel format can be found on our Reports and presentations page. MSEK 2025 2024 2025 2024 Orders received 40 087 43 654 -8% 86 691 89 310 -3% Revenues 41 210 44 803 -8% 83 940 87 678 -4% EBITA* 9 067 10 055 -10% 18 269 19 960 -8% – as a percentage of revenues 22.0 22.4 21.8 22.8 Operating profit 8 493 9 466 -10% 17 098 18 811 -9% – as a percentage of revenues 20.6 21.1 20.4 21.5 Profit before tax 8 407 9 274 -9% 16 877 18 635 -9% – as a percentage of revenues 20.4 20.7 20.1 21.3 Profit for the period 6 525 7 645 -15% 13 123 14 820 -11% Basic earnings per share, SEK 1.34 1.57 2.69 3.04 Diluted earnings per share, SEK 1.34 1.57 2.69 3.04 Return on capital employed, % 26 29 January-JuneApril-June
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Atlas Copco AB – Q2 2025 2 (19) Summary of half-year results Orders received in the first six months of 2025 decreased by 3% to MSEK 86 691 (89 310), corresponding to an organic decline of 1%. Currency had a negative effect of 4%, while acquisitions contributed with 2%. Revenues decreased by 4% to MSEK 83 940 (87 678), corresponding to an organic decline of 2%. Operating profit decreased by 9% to MSEK 17 098 (18 811). The operating margin was 20.4% (21.5). Adjusted for items affecting comparability, the margin was 20.6% (22.0). Changes in exchange rates compared with the previous year had a negative effect of MSEK 1 230. Profit before tax was MSEK 16 877 (18 635), corresponding to a margin of 20.1% (21.3). Profit for the period totaled MSEK 13 123 (14 820). Basic and diluted earnings per share were SEK 2.69 (3.04) and 2.69 (3.04) respectively. Operating cash flow before acquisitions, divestments and dividends totaled MSEK 12 689 (13 521). Review of the second quarter Market development The overall demand for Atlas Copco Group’s products and services remained relatively stable compared to the previous year, but due mainly to a negative currency effect, the order intake decreased. The demand for equipment was mixed. Order volumes for industrial compressors decreased, and the order intake for gas and process compressors was significantly lower compared to the previous year’s high level. Order volumes for vacuum equipment to the semiconductor and flat panel industry decreased somewhat, while orders to industrial and scientific vacuum equipment increased. The demand for industrial assembly equipment and vision solutions remained basically unchanged. Solid order growth was achieved for all types of power equipment with increased order intake for products such as portable compressors, generators, and industrial pumps. The overall demand for service, including the specialty rental business, grew with increased order volumes in all regions. Sequentially, orders decreased organically, with an additional adverse currency effect contributing to the Group’s lower order intake compared to the previous quarter. Geographic distribution of orders received * Change in orders received compared to the previous year in local currency. Sales bridge * Volume, price and mix. Orders, revenues, and operating profit margin Geographic distribution of orders received and revenues April-June 2025 Orders received, % Change*, % North America 25 +0 South America 5 +12 Europe 28 -2 Africa/Middle East 7 +8 Asia/Oceania 35 -0 Atlas Copco Group 100 +1 Atlas Copco Group MSEK Orders received Revenues 2024 43 654 44 803 Structural change, % +2 +2 Currency, % -9 -8 Organic*, % -1 -2 Total, % -8 -8 2025 40 087 41 210 April-June 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 5 000 10 000 15 000 20 000 25 000 30 000 35 000 40 000 45 000 50 000 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2022 2023 2024 2025 Orders received, MSEK Revenues, MSEK Operating margin, % Adjusted operating margin, % April-June 2025 Orders received Revenues Orders received Revenues Orders received Revenues Orders received Revenues Orders received Revenues North America 25 26 19 20 34 33 24 25 25 26 South America 6 6 1 0 4 3 7 7 5 5 Europe 31 29 14 15 33 36 35 32 28 27 Africa/Middle East 10 7 1 1 2 1 11 10 7 5 Asia/Oceania 28 32 65 64 27 27 23 26 35 37 100 100 100 100 100 100 100 100 100 100 Compressor Technique, % Vacuum Technique, % Industrial Technique, % Power Technique, % Atlas Copco Group, %
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Atlas Copco AB – Q2 2025 3 (19) Revenues, profits and returns Revenues reached MSEK 41 210 (44 803), an organic decline of 2%. Currency had a negative effect of 8%, while acquisitions added 2%. The operating profit was MSEK 8 493 (9 466) and includes a change in provision for share-related long-term incentive programs, reported in Common Group Items of MSEK 82 (-176). Previous year’s items affecting comparability also included a restructuring cost of MSEK -143 in the business area Vacuum Technique. Adjusted operating profit decreased 14% to MSEK 8 411 (9 785), corresponding to a margin of 20.4% (21.8). The margin was notably affected by a negative currency effect, while the combination of volume, price and sales mix had a positive effect on the margin. Net financial items amounted to MSEK -86 (-192) whereof interest net at MSEK -103 (-92). Other financial items, including financial exchange differences, were MSEK 17 (-100). The main reason for the difference compared to the previous year is exchange differences and a gain related to a bond buyback. Profit before tax amounted to MSEK 8 407 (9 274), corresponding to a margin of 20.4% (20.7). Corporate income tax amounted to MSEK -1 882 (-1 629), corresponding to an effective tax rate of 22.4% (17.6). Previous year included a release of a provision related to an R&D tax incentive of MSEK 510. Profit for the period was MSEK 6 525 (7 645). Basic and diluted earnings per share were SEK 1.34 (1.57) and SEK 1.34 (1.57), respectively. The return on capital employed during the last 12 months was 26% (29). Return on equity was 27% (31). The Group uses a weighted average cost of capital (WACC) of 8.0% as an investment and overall performance benchmark. Operating cash flow and investments Operating cash surplus decreased to MSEK 10 975 (11 652). Net financial items and taxes paid amounted to MSEK -2 774 (-2 374). Working capital increased by MSEK 275 (decrease of 54). The main reason for the difference compared to the previous year was increased inventories, partly offset by increased trade payables. Net investments in rental equipment were MSEK -476 (-722), and in property, plant, and equipment, MSEK -929 (-895). Operating cash flow (an important internal KPI, but not a measurement defined in IFRS Accounting Standards, and hence defined on page 13) reached MSEK 6 114 (6 861). Net indebtedness The Group’s net indebtedness amounted to MSEK 16 480 (21 622), of which MSEK 2 373 (2 476) was attributable to post-employment benefits. The Group’s interest-bearing liabilities have an average maturity of 5.1 years. The net debt/EBITDA ratio was 0.4 (0.5) and the net debt/equity ratio was 16% (22). Acquisition and divestment of own shares During the quarter, 368 789 series A shares, net, were sold for a net value of MSEK 59. These transactions are in accordance with mandates granted by the Annual General Meeting and relate to the Group’s long-term incentive programs. See page 17. Employees On June 30, 2025, the number of employees was 55 073 (54 153). The number of consultants/external workforce was 3 096 (3 116). For comparable units, the total workforce decreased by 462 from June 30, 2024. Revenues and operating profit – bridge * LTI= Long term incentive MSEK Q2 2025 Volume, price, mix and other Currency Acquisitions Items affecting comparability Share-based LTI* programs Q2 2024 Atlas Copco Group Revenues 41 210 -843 -3 490 740 0 - 44 803 Operating profit 8 493 91 -1 475 10 143 258 9 466 20.6% 21.1%
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Atlas Copco AB – Q2 2025 4 (19) Compressor Technique * Operating profit excluding amortization of intangibles related to acquisitions . • Weaker equipment orders, particularly for gas and process compressors • Continued growth for service • Operating profit margin at 25.0% Sales bridge * Includes an internal transfer to Power Technique. ** Volume, price and mix. Industrial compressors The order intake for industrial compressors decreased organically due to weaker demand in some geographical regions. The year-on- year order decline was more noticeable for large-sized compressors than for small to medium-sized units. Sequentially, order volumes decreased somewhat. Geographically, and compared to the previous year, the order intake decreased in Asia, remained essentially unchanged in Europe, but increased in the Americas. Gas and process compressors Orders for gas and process compressors decreased significantly compared to the previous year’s high level. This was a result of lower demand from several customer segments. Sequentially, the order intake also decreased compared to the very high levels seen in the first quarter. Year-on-year, orders decreased in Asia, Europe, and North America, but increased in Africa/Middle East. Compressor service The demand for service continued to increase, with the strongest growth in Europe. Innovation A new membrane filter, targeting the chemical and food and beverage markets was introduced in the quarter, the SME+. Securing high-quality liquids through filtration is key to ensuring customer process quality, and the new filter effectively retains particles and microorganisms in applications such as particle retention in liquids, bioburden control, and sterilization, as well as in the production of edible liquids. Acquisitions The following acquisitions were closed in the quarter: - Powered Compressors and Supplies, a US based compressed air distributor with 12 employees. - The compressed air business of Air Mac Inc., a US based company with 40 employees and revenues of approximately MSEK 184 during 2024. - Kyungwon Machinery Industry Co., Ltd., a compressor manufacturer based in South Korea with 126 employees and revenues of approximately MSEK 465 in 2024. Revenues and profitability Revenues decreased 5% to MSEK 19 119 (20 136), corresponding to an organic increase of 2%. The operating profit decreased 4% to MSEK 4 776 (4 990), corresponding to a margin of 25.0% (24.8). Increased organic revenue volumes affected the margin positively, while currency and dilution from recent acquisitions had a negative effect on the operating margin. Return on capital employed (last 12 months) was 82% (84). Orders, revenues, and operating profit margin MSEK 2025 2024 2025 2024 Orders received 18 275 21 224 -14% 40 178 42 368 -5% Revenues 19 119 20 136 -5% 38 449 38 846 -1% EBITA* 4 925 5 146 -4% 9 784 9 941 -2% – as a percentage of revenues 25.8 25.6 25.4 25.6 Operating profit 4 776 4 990 -4% 9 487 9 632 -2% – as a percentage of revenues 25.0 24.8 24.7 24.8 Return on capital employed, % 82 84 April-June January-June MSEK Orders received Revenues 2024 21 224 20 136 Structural change*, % +1 +1 Currency, % -8 -8 Organic**, % -7 +2 Total, % -14 -5 2025 18 275 19 119 April-June 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 2 500 5 000 7 500 10 000 12 500 15 000 17 500 20 000 22 500 25 000 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2022 2023 2024 2025 Orders received, MSEK Revenues, MSEK Operating margin, %
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Atlas Copco AB – Q2 2025 5 (19) Vacuum Technique * Operating profit excluding amortization of intangibles related to acquisitions . • Equipment demand flat • Solid growth for service • Operating profit margin at 18.9% Sales bridge * Volume, price and mix. Semiconductor and flat panel display equipment Order volumes for vacuum equipment to the semiconductor and flat panel display industry decreased somewhat, mainly due to lower demand in North America. Sequentially, however, the orders increased, driven by increased order intake in Asia. Compared to the previous year, the order intake increased in Asia but decreased in Europe and North America. Industrial and scientific vacuum equipment Order volumes for industrial and scientific vacuum equipment increased, supported by increased demand from both general industrial customers and for equipment to scientific vacuum applications. Sequentially, orders were flat. Year-on-year, the order intake increased in most regions. Vacuum service Service orders continued to develop favorably with increased order volumes. The order growth was driven by increased demand from both semiconductor and industrial customers in all major regions. Innovation A new oil-sealed screw vacuum pump designed for electronic and general industrial vacuum applications was introduced, the GHS 2700-3400 VSD+. This latest, very compact, product offers high efficiency, low noise levels, and intelligent connectivity and control to support the customers’ production processes. Revenues and profitability Revenues decreased 11% to MSEK 8 982 (10 089), corresponding to an organic decline of 5%. The operating profit decreased 16% to MSEK 1 700 (2 027). Previous year included restructuring costs of MSEK -143. The operating margin reached 18.9% (20.1, adjusted 21.5), and was heavily affected by a negative currency effect. Decreased revenue volumes also had a negative effect on the margin, while cost reductions from sourcing initiatives and restructuring affected the margin positively. Return on capital employed (last 12 months) was 18% (21). Orders, revenues, and operating profit margin MSEK 2025 2024 2025 2024 Orders received 9 008 9 403 -4% 18 439 18 507 -0% Revenues 8 982 10 089 -11% 18 509 19 808 -7% EBITA* 1 884 2 224 -15% 3 725 4 521 -18% – as a percentage of revenues 21.0 22.0 20.1 22.8 Operating profit 1 700 2 027 -16% 3 338 4 146 -19% – as a percentage of revenues 18.9 20.1 18.0 20.9 Return on capital employed, % 18 21 April-June January-June MSEK Orders received Revenues 2024 9 403 10 089 Structural change, % +1 +1 Currency, % -8 -7 Organic*, % +3 -5 Total, % -4 -11 2025 9 008 8 982 April-June 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000 10 000 11 000 12 000 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2022 2023 2024 2025 Orders received, MSEK Revenues, MSEK Operating margin, % Adjusted operating margin, %
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Atlas Copco AB – Q2 2025 6 (19) Industrial Technique * Operating profit excluding amortization of intangibles related to acquisitions. • Equipment demand basically unchanged • Stable service demand • Operating profit margin at 17.1% Sales bridge * Volume, price and mix. Automotive industry The overall demand for industrial assembly and vision solutions to the automotive industry remained relatively stable, at a level comparable to the previous year. However, due to a negative currency effect, the order intake decreased markedly. Sequentially, organic order volumes decreased. Year-on-year, orders increased in the Americas but decreased in Europe and Asia. General industry The general industry demand for industrial power tools, assembly equipment and vision solutions remained basically at the same level as the previous year. The relatively stable demand was a result of increased activity level, primarily from the electronics industry. At the same time, several other customer segments showed decreased demand compared to the previous year. A negative currency effect, however, resulted in an overall lower order intake. Sequentially, order volumes were basically unchanged. Year-on-year, orders increased in Asia and South America but decreased in Europe and North America. Service The demand for service remained at basically the same level as the previous year. Innovation The business area introduced a new manual torque wrench, the MTRwrench. The new product offers a robust design and traceability with fast data transfer and high torque control. The MTRwrench is designed for assembly applications in the automotive and general industry and can be easily integrated with other Atlas Copco products. Revenues and profitability Revenues decreased 18% to MSEK 6 118 (7 471), corresponding to an organic decline of 12%. The operating profit decreased 33% to MSEK 1 047 (1 557), corresponding to a margin of 17.1% (20.8). Currency had a significant negative effect and was the main explanation for the lower margin. The combination of volume, price and mix affected the margin positively. Return on capital employed (last 12 months) was 18% (22). Orders, revenues, and operating profit margin MSEK 2025 2024 2025 2024 Orders received 6 366 6 928 -8% 13 826 14 724 -6% Revenues 6 118 7 471 -18% 13 061 14 985 -13% EBITA* 1 161 1 691 -31% 2 665 3 472 -23% – as a percentage of revenues 19.0 22.6 20.4 23.2 Operating profit 1 047 1 557 -33% 2 435 3 206 -24% – as a percentage of revenues 17.1 20.8 18.6 21.4 Return on capital employed, % 18 22 April-June January-June MSEK Orders received Revenues 2024 6 928 7 471 Structural change, % +1 +1 Currency, % -8 -7 Organic*, % -1 -12 Total, % -8 -18 2025 6 366 6 118 April-June 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000 10 000 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2022 2023 2024 2025 Orders received, MSEK Revenues, MSEK Operating margin, % Adjusted operating margin, %
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Atlas Copco AB – Q2 2025 7 (19) Power Technique * Operating profit excluding amortization of intangibles related to acquisitions . • Solid growth for equipment • Growth for the specialty rental business • Operating profit margin at 17.1% Sales bridge * Includes an internal transfer from Compressor Technique. ** Volume, price and mix. Equipment The demand for power equipment increased, and solid order growth was achieved for all main product types such as portable compressors, generators, and industrial pumps. The increased order volumes were primarily driven by higher demand in North America and Europe. Sequentially, the order intake decreased markedly compared to the previous quarter’s high level. Year-on-year, orders increased in North America and Europe but decreased in Asia and South America. Specialty rental The demand for specialty rental solutions increased, and order volumes increased both compared to the previous year and sequentially. Geographically, and compared to the previous year, orders increased in North America and Europe and remained unchanged in Asia. Service Order volumes for service remained basically unchanged compared to the previous year but increased sequentially. Innovation A new line of portable desiccant dryers was introduced, the CDR and CDR+. This range is designed for remote applications, such as pipeline services and rental services, as well as for demanding industrial environments. These new products efficiently remove excess moisture from compressed air systems, helping customers to prevent corrosion and equipment failures. Acquisitions The following acquisitions were closed in the quarter: - Heide Pumpen GmbH, a German distributor and service provider of portable pumps. The company has 42 employees. - Clearpro Construction Water Solutions Pty Ltd., an Australian specialty water treatment rental company. The company has 12 employees and had revenues of approximately MSEK 42 in 2024. Revenues and profitability Revenues reached MSEK 7 196 (7 391), corresponding to an organic decline of 1%. The operating profit decreased 13% to MSEK 1 227 (1 406), corresponding to a margin of 17.1% (19.0). The lower margin can mainly be explained by a negative currency effect, an unfavorable sales mix, and higher functional costs in relation to sales. Return on capital employed (last 12 months) was 16% (20). Orders, revenues, and operating profit margin MSEK 2025 2024 2025 2024 Orders received 6 634 6 307 5% 14 697 14 326 3% Revenues 7 196 7 391 -3% 14 365 14 593 -2% EBITA* 1 354 1 509 -10% 2 689 2 998 -10% – as a percentage of revenues 18.8 20.4 18.7 20.5 Operating profit 1 227 1 406 -13% 2 432 2 799 -13% – as a percentage of revenues 17.1 19.0 16.9 19.2 Return on capital employed, % 16 20 April-June January-June MSEK Orders received Revenues 2024 6 307 7 391 Structural change*, % +6 +6 Currency, % -11 -8 Organic**, % +10 -1 Total, % +5 -3 2025 6 634 7 196 April-June 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000 10 000 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2022 2023 2024 2025 Orders received, MSEK Revenues, MSEK Operating margin, %
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Atlas Copco AB – Q2 2025 8 (19) Accounting principles The interim condensed consolidated financial statements presented in this interim report have been prepared in accordance with IAS 34 Interim Financial Reporting. The description of the accounting principles and definitions applied in this report are found in the Annual Report 2024. Other financial measures than the ones defined in IFRS Accounting Standards are also presented in the report since they are considered to be important supplemental measures of the company´s performance. For further information about these measures and how they have been calculated, please visit our Key financials page. Risks, risk management and factors of uncertainty Atlas Copco Group’s global and diversified business is active within many customer segments and results in a variety of risks and opportunities geographically and operationally. Thus, the ability to identify, analyze and manage risks is crucial for effective governance and control of the business. The aim is to meet the Group’s goals with a high awareness of risks and well-managed risk taking. Atlas Copco Group sees the benefits of an efficient risk management both from risk reduction and business opportunity perspectives, which can lead to good business growth. Risks in Atlas Copco Group are identified in a 360-degree spectrum, meaning that both internal, and external exposures are assessed, including today’s circumstances and future changes. The Group’s risk management approach follows the decentralized structure of Atlas Copco Group. Risks are analyzed and addressed in an integrated way. Local companies are responsible for their own risk management, which is monitored and followed up regularly at for example local business board meetings. Group functions responsible for legal, insurance, human resources, compliance, sustainability, treasury, tax, controlling and accounting provide policies, guidelines and instructions regarding risk management. Risk areas include compliance risks, external exposure risks, including pandemics, operational risks and strategic risks. These risk areas can impact the business negatively both in the long and short term, but often also create business opportunities if managed well. Examples of risks and how they are handled is described below. Market risks The demand for Atlas Copco Group’s equipment and services is affected by changes in the customers’ investment and production levels. A general economic downturn, geopolitical tensions, pandemics, changes in trade agreements, trade sanctions, tariffs, a widespread financial crisis and other macroeconomic disturbances may, directly or indirectly, affect the Group negatively both in terms of revenues and profitability. However, the Group’s sales are well diversified with customers in many industries and countries around the world, which mitigates the risk. Financial risks Atlas Copco Group is subject to currency risks, funding risks, interest rate risks, tax risks, and other financial risks. In line with the overall goals with respect to growth, return on capital, and protecting creditors, Atlas Copco Group has adopted a policy to control the financial risks to which the Group is exposed. A financial risk management committee meets regularly to manage and follow up financial risks, in line with the policy. Production risks A large part of the components used in production are sourced from sub- suppliers. The availability is dependent on the sub-suppliers and if they have interruptions or lack capacity, this may adversely affect production. To minimize these risks, Atlas Copco Group has established a global network of sub-suppliers, which means that in most cases there are more than one sub-supplier that can provide a certain component. Atlas Copco Group is also directly and indirectly exposed to raw material prices. Cost increases for raw materials and components often coincide with strong end-customer demand and can partly be compensated for by increased sales prices. Acquisitions Atlas Copco Group has the ambition to grow all its business areas, primarily through organic growth, supplemented by selected acquisitions. The integration of acquired businesses is a difficult process and it is not certain that every integration will be successful. Therefore, costs related to acquisitions can be higher and/or synergies can take longer to materialize than anticipated. For more information on Atlas Copco Group’s risk management process and further descriptions of risks and how they are handled, see the Annual Report 2024. Forward-looking statements Some statements in this report are forward-looking, and the actual outcome could be materially different. In addition to the factors explicitly discussed, other factors could have a material effect on the actual outcome. Such factors include, but are not limited to, general business conditions, fluctuations in exchange rates and interest rates, political developments, the impact of competing products and their pricing, product development, commercialization and technological difficulties, interruptions in supply, and major customer credit losses. Atlas Copco AB Atlas Copco AB is a public company. Atlas Copco AB and its subsidiaries are often referred to as Atlas Copco Group, the Group or the company. Any mentioning of the Board of Directors or the Board refers to the Board of Directors of Atlas Copco AB.
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Atlas Copco AB – Q2 2025 9 (19) Consolidated income statement (condensed) MSEK 2025 2024 2025 2024 Revenues 41 210 44 803 83 940 87 678 Cost of sales -23 064 -25 643 -47 304 -49 734 Gross profit 18 146 19 160 36 636 37 944 Marketing expenses -4 906 -5 190 -9 979 -10 090 Administrative expenses -2 459 -2 787 -5 183 -5 480 Research and development costs -1 696 -1 846 -3 546 -3 630 Other operating income and expenses -592 129 -830 67 Operating profit 8 493 9 466 17 098 18 811 - as a percentage of revenues 20.6% 21.1% 20.4% 21.5% Net financial items -86 -192 -221 -176 Profit before tax 8 407 9 274 16 877 18 635 - as a percentage of revenues 20.4% 20.7% 20.1% 21.3% Income tax expense -1 882 -1 629 -3 754 -3 815 Profit for the period 6 525 7 645 13 123 14 820 Profit attributable to - owners of the parent 6 523 7 642 13 120 14 814 - non-controlling interests 2 3 3 6 Basic earnings per share, SEK 1.34 1.57 2.69 3.04 Diluted earnings per share, SEK 1.34 1.57 2.69 3.04 Basic weighted average number of shares outstanding, millions 4 868.2 4 873.8 4 868.5 4 872.5 Diluted weighted average number of shares outstanding, millions 4 871.5 4 882.5 4 873.6 4 881.0 Key ratios Equity per share, period end, SEK 21 20 Return on capital employed, 12 month values, % 26 29 Return on equity, 12 month values, % 27 31 Debt/equity ratio, period end, % 16 22 Equity/assets ratio, period end, % 51 50 Number of employees, period end 55 073 54 153 April-June January-June
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Atlas Copco AB – Q2 2025 10 (19) Consolidated statement of comprehensive income (condensed) MSEK 2025 2024 2025 2024 Profit for the period 6 525 7 645 13 123 14 820 Other comprehensive income Items that will not be reclassified to profit or loss Remeasurements of defined benefit pension plans -134 361 247 400 Income tax relating to items that will not be reclassified 38 -107 -63 -121 -96 254 184 279 Items that may be reclassified subsequently to profit or loss Translation differences on foreign operations -1 665 -1 176 -11 527 4 853 Hedge of net investments in foreign operations -328 190 592 -488 Income tax relating to items that may be reclassified 129 -64 -180 164 -1 864 -1 050 -11 115 4 529 Other comprehensive income for the period, net of tax -1 960 -796 -10 931 4 808 Total comprehensive income for the period 4 565 6 849 2 192 19 628 Total comprehensive income attributable to - owners of the parent 4 566 6 847 2 197 19 619 - non-controlling interests -1 2 -5 9 April-June January-June
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Atlas Copco AB – Q2 2025 11 (19) Consolidated balance sheet (condensed) Fair value of derivatives, cash equivalents and borrowings The carrying value and fair value of the Group’s outstanding derivatives, liquidity funds, and borrowings are shown in the tables below. The fair values of bonds are based on Level 1, the fair values of derivatives, liquidity funds, and other loans are based on Level 2, and contingent considerations are based on Level 3 in the fair value hierarchy. Compared to 2024, no transfers have been made between different levels in the fair value hierarchy for derivatives and borrowings, and no significant changes have been made to valuation techniques, inputs, or assumptions. For further information, see Note 26 in the Annual Report 2024, available on our Investors page. Financial instruments recorded at fair value Carrying value and fair value of borrowings MSEK Jun. 30 2025 Jun. 30 2024 Dec. 31 2024 Intangible assets 72 219 72 455 77 107 Rental equipment 5 808 5 265 5 947 Other property, plant and equipment 17 964 16 163 17 745 Right-of-use assets 6 742 6 330 7 133 Financial assets and other receivables 2 542 2 393 2 520 Deferred tax assets 2 314 2 275 2 575 Total non-current assets 107 589 104 881 113 027 Inventories 26 936 30 234 29 012 Trade and other receivables 43 416 47 714 47 097 Other financial assets 486 632 434 Cash and cash equivalents 20 479 14 495 18 968 Total current assets 91 317 93 075 95 511 TOTAL ASSETS 198 906 197 956 208 538 Equity attributable to owners of the parent 100 648 97 986 113 700 Non-controlling interests 55 70 60 TOTAL EQUITY 100 703 98 056 113 760 Borrowings 31 989 31 159 31 688 Post-employment benefits 2 373 2 476 2 740 Other liabilities and provisions 2 139 2 285 2 319 Deferred tax liabilities 2 680 2 220 2 616 Total non-current liabilities 39 181 38 140 39 363 Borrowings 3 093 3 114 3 076 Trade payables and other liabilities 53 716 55 985 49 590 Provisions 2 213 2 661 2 749 Total current liabilities 59 022 61 760 55 415 TOTAL EQUITY AND LIABILITIES 198 906 197 956 208 538 MSEK Jun. 30 2025 Dec. 31 2024 Non-current assets and liabilities Assets 128 68 Liabilities 52 - Current assets and liabilities Assets 495 437 Liabilities 71 94 MSEK Jun. 30 2025 Jun. 30 2025 Dec. 31 2024 Dec. 31 2024 Carrying value Fair value Carrying value Fair value Bonds 15 682 14 569 14 840 13 520 Other loans 12 603 12 620 12 770 12 738 Lease liability 6 797 6 797 7 154 7 154 35 082 33 986 34 764 33 412
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Atlas Copco AB – Q2 2025 12 (19) Consolidated statement of changes in equity (condensed) MSEK owners of the parent non-controlling interests Total equity Opening balance, January 1, 2025 113 700 60 113 760 Changes in equity for the period Total comprehensive income for the period 2 197 -5 2 192 Dividend -14 604 -4 -14 608 Change of non-controlling interests 4 4 Acquisition and divestment of own shares -447 - -447 Share-based payments, equity settled -198 - -198 Closing balance, June 30, 2025 100 648 55 100 703 MSEK owners of the parent non-controlling interests Total equity Opening balance, January 1, 2024 91 450 50 91 500 Changes in equity for the period Total comprehensive income for the period 19 619 9 19 628 Dividend -13 647 - -13 647 Change of non-controlling interests -2 11 9 Acquisition and divestment of own shares 793 - 793 Share-based payments, equity settled -227 - -227 Closing balance, June 30, 2024 97 986 70 98 056 Equity attributable to Equity attributable to
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Atlas Copco AB – Q2 2025 13 (19) Consolidated statement of cash flows (condensed) Depreciation, amortization and impairment Calculation of operating cash flow MSEK 2025 2024 2025 2024 Cash flows from operating activities Operating profit 8 493 9 466 17 098 18 811 Depreciation, amortization and impairment (see below) 2 253 2 160 4 525 4 234 Capital gain/loss and other non-cash items 229 26 -161 292 Operating cash surplus 10 975 11 652 21 462 23 337 Net financial items received/paid -298 512 -557 158 Taxes paid -2 476 -2 886 -4 795 -4 667 Pension funding and payment of pension to employees -98 -119 -244 -223 Change in working capital -275 54 646 -1 280 Investments in rental equipment -499 -741 -1 020 -1 298 Sale of rental equipment 23 19 55 30 Net cash from operating activities 7 352 8 491 15 547 16 057 Cash flows from investing activities Investments in property, plant and equipment -944 -915 -2 261 -1 794 Sale of property, plant and equipment 15 20 31 41 Investments in intangible assets -455 -402 -964 -758 Acquisition of subsidiaries and associated companies -811 -1 111 -2 136 -3 307 Other investments, net -45 8 -52 15 Net cash from investing activities -2 240 -2 400 -5 382 -5 803 Cash flows from financing activities Annual dividends paid -7 302 -6 822 -7 302 -6 822 Dividends paid to non-controlling interest -4 - -4 - Acquisition of non-controlling interest - - 4 - Repurchase and sales of own shares 59 383 -447 793 Change in interest-bearing liabilities, net 1 202 -956 508 -881 Net cash from financing activities -6 045 -7 395 -7 241 -6 910 Net cash flow for the period -933 -1 304 2 924 3 344 Cash and cash equivalents, beginning of the period 21 400 16 014 18 968 10 887 Exchange differences in cash and cash equivalents 12 -215 -1 413 264 Cash and cash equivalents, end of the period 20 479 14 495 20 479 14 495 April-June January-June MSEK 2025 2024 2025 2024 Rental equipment 303 264 613 513 Other property, plant and equipment 568 566 1 135 1 084 Right-of-use assets 493 454 992 882 Intangible assets 889 876 1 785 1 755 Total 2 253 2 160 4 525 4 234 April-June January-June MSEK 2025 2024 2025 2024 Net cash flow for the period -933 -1 304 2 924 3 344 Add back: Change in interest-bearing liabilities, net -1 202 956 -508 881 Repurchase and sales of own shares -59 -383 447 -793 Annual dividends paid 7 302 6 822 7 302 6 822 Dividends paid to non-controlling interest 4 - 4 - Acquisition of non-controlling interest - - -4 - Acquisitions and divestments 811 1 111 2 136 3 307 Currency hedges 191 -341 388 -40 Operating cash flow 6 114 6 861 12 689 13 521 April-June January-June
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Atlas Copco AB – Q2 2025 14 (19) Revenues by business area Equipment and service revenues Operating profit by business area Return on capital employed by business area 2023 2024 2025 MSEK (by quarter) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Compressor Technique 17 632 18 600 19 493 19 827 18 710 20 136 19 031 20 382 19 330 19 119 - of which external 17 466 18 407 19 300 19 614 18 507 19 905 18 819 20 202 19 151 18 973 - of which internal 166 193 193 213 203 231 212 180 179 146 Vacuum Technique 9 989 10 911 10 802 11 110 9 719 10 089 10 444 10 189 9 527 8 982 - of which external 9 979 10 906 10 795 11 101 9 711 10 089 10 439 10 180 9 521 8 975 - of which internal 10 5 7 9 8 - 5 9 6 7 Industrial Technique 6 492 7 280 7 306 7 375 7 514 7 471 6 832 7 705 6 943 6 118 - of which external 6 469 7 260 7 290 7 356 7 492 7 460 6 821 7 683 6 926 6 101 - of which internal 23 20 16 19 22 11 11 22 17 17 Power Technique 5 996 6 828 7 142 6 933 7 202 7 391 7 072 7 957 7 169 7 196 - of which external 5 947 6 791 7 100 6 883 7 165 7 349 7 026 7 923 7 132 7 161 - of which internal 49 37 42 50 37 42 46 34 37 35 Common Group Items / Eliminations -248 -255 -258 -291 -270 -284 -274 -245 -239 -205 Atlas Copco Group 39 861 43 364 44 485 44 954 42 875 44 803 43 105 45 988 42 730 41 210 2023 2024 2025 % of total revenues (by quarter) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Compressor Technique - Equipment 57 58 59 60 56 58 57 58 56 57 Compressor Technique - Service 43 42 41 40 44 42 43 42 44 43 Vacuum Technique - Equipment 77 77 77 78 75 74 74 73 71 70 Vacuum Technique - Service 23 23 23 22 25 26 26 27 29 30 Industrial Technique - Equipment 71 74 73 76 73 73 71 74 71 71 Industrial Technique - Service 29 26 27 24 27 27 29 26 29 29 Power Technique - Equipment 58 60 56 54 58 57 53 56 55 56 Power Technique - Service 42 40 44 46 42 43 47 44 45 44 2023 2024 2025 MSEK (by quarter) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Compressor Technique 4 245 4 472 4 856 4 915 4 642 4 990 4 974 5 110 4 711 4 776 - as a percentage of revenues 24.1 24.0 24.9 24.8 24.8 24.8 26.1 25.1 24.4 25.0 Vacuum Technique 2 268 2 504 2 465 2 370 2 119 2 027 2 014 2 381 1 638 1 700 - as a percentage of revenues 22.7 22.9 22.8 21.3 21.8 20.1 19.3 23.4 17.2 18.9 Industrial Technique 1 371 1 585 1 647 1 580 1 649 1 557 1 364 1 496 1 388 1 047 - as a percentage of revenues 21.1 21.8 22.5 21.4 21.9 20.8 20.0 19.4 20.0 17.1 Power Technique 1 145 1 294 1 429 1 323 1 393 1 406 1 274 1 415 1 205 1 227 - as a percentage of revenues 19.1 19.0 20.0 19.1 19.3 19.0 18.0 17.8 16.8 17.1 Common Group Items / Eliminations -330 -666 -280 -1 102 -458 -514 -289 -384 -337 -257 Operating profit 8 699 9 189 10 117 9 086 9 345 9 466 9 337 10 018 8 605 8 493 - as a percentage of revenues 21.8 21.2 22.7 20.2 21.8 21.1 21.7 21.8 20.1 20.6 Net financial items -44 -163 -189 -253 16 -192 -153 -37 -135 -86 Profit before tax 8 655 9 026 9 928 8 833 9 361 9 274 9 184 9 981 8 470 8 407 - as a percentage of revenues 21.7 20.8 22.3 19.6 21.8 20.7 21.3 21.7 19.8 20.4 2023 2024 2025 % (by quarter) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Compressor Technique 82 83 82 85 84 84 85 85 83 82 Vacuum Technique 24 23 22 22 22 21 20 20 19 18 Industrial Technique 18 20 20 21 22 22 21 21 20 18 Power Technique 24 23 22 22 21 20 18 18 16 16 Atlas Copco Group 29 30 30 30 30 29 28 28 27 26
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Atlas Copco AB – Q2 2025 15 (19) Acquisitions and divestments * Annual revenues and number of employees at time of acquisition/divestment. No revenues are disclosed for former Atlas Copco d istributors. Due to the relatively small size of most of the acquisitions made in 202 5, full disclosure as per IFRS 3 is not given in this interim report. Disclosure on an aggregated level will be given in the Annual Report 202 5. See the Annual Report 2024 for disclosure of acquisitions made in 2024. Date Acquisitions Divestments Business area Revenues MSEK* Number of employees* 2025 Jun. 18 Kyungwon Machinery Industry Co., Ltd. (“Kyungwon”) Compressor Technique 465 126 2025 Jun. 13 Air Mac Inc. (“Air Mac”) Compressor Technique 184 40 2025 May. 2 Clearpro Construction Water Solutions Pty Ltd. (“Clearpro”) Power Technique 42 12 2025 Apr. 9 Powered Compressors and Supplies (“PCS”) Compressor Technique 12 2025 Apr. 1 Heide Pumpen GmbH (“Heide Pumpen”) Power Technique 42 2025 Mar. 21 MSS Nitrogen Ltd. (“MSS Nitrogen”) Compressor Technique 238 44 2025 Mar. 11 Neadvance Machine Vision, S.A. (“Neadvance”) Industrial Technique 29 41 2025 Mar. 4 Masterfilter NV (“Masterfilter”) Compressor Technique 30 3 2025 Feb. 5 IMOCOM S.A. Compressor Technique 47 36 2025 Feb. 5 Maquinarias y Tecnologías S.A.S. ("Maq&Tec") Compressor Technique 14 13 2025 Jan. 29 Dr. Weigel Anlagenbau GmbH Compressor Technique 45 2025 Jan. 10 Medi-teknique Ltd. ("Medi-teknique") Compressor Technique 42 13 2025 Jan. 9 JetCan Engineering Sdn Bhd ("JetCan") Compressor Technique 24 2025 Jan. 7 V.O.L. Industries Compressor Technique 35 2 2025 Jan. 7 Trident Pneumatics Pvt. Ltd. ("Trident") Compressor Technique 134 113 2024 Dec. 3 Metalplan Equipamentos LTDA, (“Metalplan”) Compressor Technique 120 90 2024 Nov. 18 VisionTools Bildanalyse Systeme GmbH ("VisionTools") Industrial Technique 160 80 2024 Nov. 8 ESA Service S.r.l. (“ESA Service”) Vacuum Technique 118 40 2024 Nov. 6 SCS Makina A.Ş. (“SCS”) Compressor Technique 40 11 2024 Nov. 5 Pennine Pneumatic Services Ltd. (“PPS”) Compressor Technique 84 2024 Nov. 4 Air Way Automation Ltd. (“Air Way”) Industrial Technique 370 98 2024 Okt. 3 Perslucht Wilda B.V. (“Perslucht Wilda”) Power Technique 9 2024 Okt. 2 Kinder-Janes Engineers Ltd. ("Kinder-Janes") Power Technique 164 20 2024 Okt. 2 Pomac B.V. (“Pomac”) Power Technique 95 23 2024 Okt. 2 Arlógica Máquinas e Equipamentos, Lda (“Arlógica”) Compressor Technique 9 2024 Oct. 2 Easy Filtration S.r.l. (“Easy Filtration”) Compressor Technique 9 2024 Sep. 3 Integrated Pump Rental (“IPR”) Power Technique 57 18 2024 Sep. 3 Anhui NOY Technologies Co. Ltd., (“NOY”) Vacuum Technique 178 78 2024 Sep. 3 Generator Rental Services ("GRS”) Power Technique 263 58 2024 Aug. 2 AVT Services Pty Ltd., (“AVT Services”) Vacuum Technique 15 2024 Aug. 2 Danmil A/S (“Danmil”) Compressor Technique 126 26 2024 Jul. 29 Compressed Air Technologies, Inc. Compressor Technique 53 2024 Jul. 23 Kingsdown Compressed Air Systems Ltd. (“Kingsdown”) Compressor Technique 31 13 2024 Jul. 4 Mont-Tech Ltd. ("Mont-Tech") Industrial Technique 40 27 2024 Jul. 2 Swed-Weld AB ("Swed-Weld") Industrial Technique 30 10 2024 Jul. 2 Emcovele S.A. Compressor Technique 49 2024 Jun. 14 AE Industrial Ltd. ("AE Industrial") Compressor Technique 40 2024 Jun. 5 Baraghini Compressori Srl ("Baraghini") Compressor Technique 31 14 2024 May 7 Montajes Electromecánicos e Ingeniería, S.A. de C.V. (“MEISA”) Vacuum Technique 52 2024 May 3 Tecturbo Compressor Technique 60 51 2024 Apr. 4 Delta Temp Power Technique 100 20 2024 Apr. 2 Presys Co., Ltd. Vacuum Technique 275 134 2024 Mar. 5 Zahroof Valves Inc. Compressor Technique 130 44 2024 Mar. 4 Pacific Sales & Service, Inc. ("Pacific Air Compressors") Compressor Technique 15 2024 Mar. 4 Druckluft-Technik-Nord GmbH Compressor Technique 18 2024 Feb. 7 Ace Air (NI) Ltd. Compressor Technique 8 2024 Jan. 9 Hycomp Inc. Compressor Technique 85 37 2024 Jan. 3 KRACHT GmbH ("Kracht") Power Technique 766 440
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Atlas Copco AB – Q2 2025 16 (19) Parent company Income statement (condensed) Balance sheet (condensed) Assets pledged and contingent liabilities Accounting principles Atlas Copco AB is the ultimate Parent Company of the Atlas Copco Group. The financial statements of Atlas Copco AB have been prepared in accordance with the Swedish Annual Accounts Act and the accounting standard RFR 2, Accounting for Legal Entities. The same accounting principles and methods of computation are followed in the interim financial statements as compared with the most recent annual financial statements. See also accounting principles, page 8. MSEK 2025 2024 2025 2024 Administrative expenses -207 -292 -427 -522 Other operating income and expenses 173 244 195 288 Operating profit/loss -34 -48 -232 -234 Financial income and expenses 8 967 14 599 11 306 14 553 Profit/loss before tax 8 933 14 551 11 074 14 319 Income tax 36 48 100 138 Profit/loss for the period 8 969 14 599 11 174 14 457 April-June January-June MSEK Jun. 30 2025 Jun. 30 2024 Dec. 31 2024 Total non-current assets 199 267 193 286 198 845 Total current assets 8 549 13 027 5 829 TOTAL ASSETS 207 816 206 313 204 674 Total restricted equity 5 785 5 785 5 785 Total non-restricted equity 158 747 157 796 162 807 TOTAL EQUITY 164 532 163 581 168 592 Total provisions 546 939 737 Total non-current liabilities 35 128 34 605 35 002 Total current liabilities 7 610 7 188 343 TOTAL EQUITY AND LIABILITIES 207 816 206 313 204 674 MSEK Jun. 30 2025 Jun. 30 2024 Dec. 31 2024 Assets pledged 217 222 209 Contingent liabilities 14 319 11 167 11 515
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Atlas Copco AB – Q2 2025 17 (19) Parent Company Distribution of shares Share capital equaled MSEK 786 (786) at the end of the period, distributed as follows: Performance-based personnel option plan The Annual General Meeting 2025 approved a performance-based long-term incentive program. For Group Management and division presidents, the plan requires management’s own investment in Atlas Copco shares. For further information, see: General meeting page Transactions in own shares Atlas Copco AB has mandates to acquire and sell own shares as per below: • The acquisition of not more than 9 500 000 series A shares related to personnel option plan for 2025. • The acquisition of not more than 60 000 series A shares, later to be sold on the market in connection with payment to Board members who have opted to receive synthetic shares as part of their remuneration. • The sale of not more than 60 000 series A shares to cover costs, primarily social charges, related to previously issued synthetic shares to Board members. • The sale of a maximum of 29 300 000 series A shares currently held by the company, for the purpose of covering costs of fulfilling obligations related to the performance- based personnel option plans 2018, 2019, 2020, 2021 and 2022. • The shares may only be acquired or sold on NASDAQ Stockholm at a price within the registered price interval at any given time. During the first six months of 2025, 2 277 849 series A shares, net, were acquired. These transactions are in accordance with mandates granted. The company’s holding of own shares at the end of the period appears in the table to the left. Risks and factors of uncertainty Financial risks Atlas Copco AB is subject to currency risks, funding risks, interest rate risks, tax risks, and other financial risks. In line with the overall goals with respect to growth, return on capital, and protecting creditors, Atlas Copco AB has adopted a policy to control the financial risks to which Atlas Copco AB and the Group is exposed. A financial risk management committee meets regularly to manage and follow up financial risks, in line with the policy. For further information, see the Annual Report 2024. Related parties There have been no significant changes in the relationships or transactions with related parties for the Group or Parent Company compared with the information given in the Annual Report 2024. Class of share Shares A shares 3 357 576 384 B shares 1 560 876 032 Total 4 918 452 416 - of which A shares held by Atlas Copco AB 50 116 283 - of which B shares held by Atlas Copco AB 0 Total shares outstanding, net of shares held by Atlas Copco AB 4 868 336 133
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Atlas Copco AB – Q2 2025 18 (19) This is Atlas Copco Group Atlas Copco Group enables technology that transforms the future. We innovate to develop products, services, and solutions that are key to our customers’ success. Our four business areas offer compressed air and gas solutions, vacuum solutions, energy solutions, dewatering and industrial pumps, industrial power tools, and assembly and machine vision solutions. In 2024, the Group had revenues of BSEK 177 and about 55 000 employees at year-end. Business areas Atlas Copco Group has four business areas. The business areas are responsible for developing their respective operations by implementing and following up on strategies and objectives to achieve sustainable, profitable growth. The Compressor Technique business area provides compressed air and gas solutions such as industrial compressors, gas and process compressors and expanders, air and gas treatment equipment, and air management systems. The business area has a global service network and innovates technology that transforms the future of the manufacturing and process industries. Principal product development and manufacturing units are located in Belgium, the United States, China, India, Germany, and Italy. The Vacuum Technique business area provides vacuum products, exhaust management systems, valves, and related products. The main markets served are semiconductor and scientific instruments, as well as a wide range of industrial segments, including chemical process industries, food packaging, and paper handling. The business area has a global service network and innovates technology that transforms the future and improves customer performance. Principal product development and manufacturing units are located in the United States, Mexico, United Kingdom, Czech Republic, Germany, South Korea, China, and Japan. The Industrial Technique business area provides industrial power tools, assembly and machine vision solutions, quality assurance products, and services through a global network. The business area innovates technology that transforms the future for customers in the automotive and general industries. Principal product development and manufacturing units are located in Sweden, Germany, Hungary, United Kingdom, France, the United States, China, and Japan. The Power Technique business area provides portable air and power, industrial and portable flow solutions through products such as mobile compressors, generators, energy storage systems, dewatering and industrial pumps, along with a number of complementary products. It also offers specialty rental and provides service through a global network. The business area innovates technology that transforms the future for multiple industries, including infrastructure construction, manufacturing, oil and gas, and exploration drilling. Principal product development and manufacturing units are located in Belgium, Spain, Germany, the United States, China, and India. Vision, mission and strategy The Atlas Copco Group’s vision is to become and remain First in Mind— First in Choice of its customers and other stakeholders. The mission is to achieve sustainable, profitable growth. This means that we should continuously deliver profitable growth with an increased positive impact on society and the environment and by promoting diversity and inclusion. Inclusion is about providing everyone within our organization with support and inspiration to learn and grow. It also means that we include the perspective of different stakeholders, like customers and society, when we create value. An integrated sustainability strategy, backed by ambitious goals, helps the company deliver greater value to all its stakeholders in a way that is economically, environmentally, and socially responsible. For further information Analysts and investors Daniel Althoff, Vice President Investor Relations Mobile: +46 768 99 95 97 ir@atlascopco.com Media Christina Malmberg Hägerstrand, Media Relations Manager Mobile: +46 728 55 93 29 media@atlascopco.com Conference call A presentation for investors, analysts and media will be held on July 18, 2025, at 14:00 CEST. To follow the presentation via webcast: https://atlas-copco-group.events.inderes.com/q2-report-2025 To participate via teleconference: https://events.inderes.com/atlas-copco-group/q2-report-2025/dial-in Please visit our Investors page for presentation material. Third-quarter report 2025 The Q3 2025 report will be published on October 23, 2025, around 12:00 CEST and the conference call will be at 14:00 CEST. Silent period starts on September 23, 2025. Capital Markets Day 2025 Atlas Copco Group will host its Capital Markets Day on November 26, 2025, in Stuttgart and Bretten, Germany. Fourth-quarter report 2025 The Q4 2025 report will be published on January 27, 2026. Silent period starts on December 28, 2025. This information is information that Atlas Copco AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact person set out above, at 13:00 CEST on July 18, 2025.
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Atlas Copco AB – Q2 2025 19 (19) The Board of Directors and President declare that the interim report gives a fair view of the business development, financial position and result of operation of the Parent Company and the consolidated Group and describes significant risks and uncertainties that the Parent Company and its subsidiaries are facing. The content of this interim report was decided on July 18, 2025 Nacka, the date as evidenced by our electronic signature Atlas Copco AB Hans Stråberg Chair Jumana Al-Sibai Board member Johan Forssell Board member Anna Ohlsson-Leijon Board member Heléne Mellquist Board member Vagner Rego Board member President and CEO Gordon Riske Board member Peter Wallenberg Jr Board member Karin Rådström Board member Helena Hemström Board member Union representative Benny Larsson Board member Union representative Auditors’ Review Report (translation of the Swedish original) Atlas Copco AB (publ), Corp. Reg. No. 556014-2720 Introduction We have reviewed the condensed interim report for Atlas Copco AB as at June 30, 2025 and for the six month period then ended. The Board of Directors and the Managing Director are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review. Scope of the review We conducted our review in accordance with the International Standard on Review Engagements, ISRE 2410 Review of Interim Financial Statements Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act regarding the Group, and in accordance with the Swedish Annual Accounts Act regarding the Parent Company. Stockholm, the date as evidenced by our electronic signature Ernst & Young AB Erik Sandström Authorized Public Accountant