Swedish construction manufacturer Atlas Copco has released it’s annual report for 2001, showing an earnings per share increase for the whole group of $1.50 with revenues rising a record 10% to $5.2bn. The impressive results has lead the Board of Directors to propose a dividend of 56 cents per share, an increased return for the eighth consecutive year.
Whilst reflecting on a year when demand from the industry was seen to decrease, the group’s decision to launch innovative products, many in the construction and mining division, has paid dividends with operating cash flow topping a record $589M. The after-market activity was also reported to have expanded for the Compressor Technique and Construction and Mining Technique divisions that combined now account for nearly half of Atlas Copco’s revenues.
The Construction and Mining Technique group, that specialises in drilling rigs, rock drilling tools, construction tools equipment and LHD’s, reported another year of increased orders during the 12 month period that saw general construction activity on the downturn. Orders received were up by $37M from the year 2000, with revenues climbing during the 2000-2001 period by $17.4M. The operating profit rose a healthy $8.8M which was reflected in the operating margin escalating almost 1% over the year.
Between 2000-2001, the division has introduced, a new drifter system for longer durability and better drill hole quality, new modular platform rig types, new hydraulic rock breakers, new exploration rigs for underground and surface applications, and a new 50 tonne truck and an 18 tonne loader.
