The following is a summary of the Atlas Copco AB (ATLKY) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Atlas Copco AB reported Q1 2024 orders received valued at SEK 45 billion, marking their second-best quarter despite a decrease of 4%.

• The operating profit for the quarter was SEK 9.3 billion, up 7.5% from the previous year, with an operating margin of 21.8%.

• Revenue for Q1 2024 was SEK 43 billion, a 7% increase year on year.

• The effective tax rate for the quarter reduced to 23.4% from 24.6% in Q1 2023.

• The company recorded an improved cash flow, with an increase from SEK 5 billion to SEK 6.7 billion in Q1 compared to the same quarter of the previous year.

Business Progress:

• All business segments showed growth, particularly in services, with Industrial Technique leading the way with a 19% increase.

• Atlas Copco's acquisitions in the quarter indicated a robust acquisition strategy, also leading to an increase in investment in growth areas such as intangible assets, rental equipment, and other property plant and equipment.

• There is an expected gradual growth in the market for Atlas Copco's AI services due to delays in adoption.

• The company plans to boost investments in rental equipment both for replacement and procurement of new equipment.

• The near-term outlook suggests a stable customer activity level between Q1 and Q2.

More details: ATLAS COPCO AB ADR-CNV INTO 1 SER'A'NPV IR

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