Atlas Copco, Stockholm, Sweden, highlighted healthy profitability and a slight improvement in demand compared to the previous quarters when reporting its fourth-quarter results last week.

“We achieved a good result in the fourth quarter and are prepared to capture the growth when it returns, as we have already seen in Asia and South America,” says Ronnie Leten, Atlas Copco Group president and CEO. “Throughout the crisis, we have kept a strong focus on new product development and developing our market presence.”

Revenues declined 19 percent to 15.9 billion SEK (US$2.2 billion) and the operating profit was 2.45 billion SEK (US$337 million) corresponding to a margin of 15.4 percent. Orders received declined 9 percent organically compared to the previous year, but increased sequentially.

“The overall demand for the Group’s products and services is expected to improve somewhat,” Leten says. “Many emerging markets are foreseen to have a continued favorable development and demand from the mining industry is expected to improve.”

Notable events during the fourth quarter included the acquisition of Quincy Compressor, based in the United States, and the decision to invest more than 100 million SEK (US$13.7 million) in building a new facility for gas and process compressors in Shanghai, China.

“Going for growth once again, we must continue focusing on innovation, making sure that products and services also are developed suited to the needs of customers in markets such as China and India,” Leten says. “We will continue to extend and broaden our presence in emerging markets, while continuing to put efforts into the markets which are already significant for Atlas Copco.”

The board of Atlas Copco also proposed an unchanged dividend to the shareholders of 3 krona (US$0.41) or 58 percent of net profit.