Atlas Copco headquarters are pictured outside Stockholm, Sweden September 4, 2020. REUTERS/Johannes Hellstrom/File Photo STOCKHOLM, Jan 26 (Reuters) – Swedish industrials group Atlas Copco (ATCOa.ST) reported softer-than-expected fourth-quarter profits on Thursday and said demand was expected to remain around the current level, sending its share price down nearly 5%. Persistent supply chain challenges and higher costs have weighed on the maker of compressors, vacuum pumps and industrial tools in recent quarters. Its customers are also scaling back investments, especially within its key vacuum division which counts the major semiconductor producers as its main clients. Adjusted operating profit for Sweden’s most valuable listed company rose to 8.03 billion crowns ($782.9 million) from 6.46 billion a year earlier, while analysts polled by Refinitiv on average had expected earnings of 8.56 billion. In the fourth quarter, order intake at its vacuum business fell 22% to 8.48 billion crowns, once again denting results. On an organic basis, or like-for-like, orders at the vacuum division fell 33%, while for the group as a whole they declined 7%. Latest Updates Pareto Securities analyst Anders Roslund said the weaker result was entirely due to the drastic fall in orders and supply chain distortions in its vacuum […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
