For the second straight quarter, earnings at the Swedish quarrying equipment manufacturer hit a new high. The company reported that operating profit jumped 28% to 5.31 billion kronor (€580.78 million), buoyed by the Swedish krona’s weakness that’s boosting earnings of exporters.
Atlas Copco, whose products include rock drills for quarrying and mining, forecast demand in the coming months will hold steady. European orders jumped 7% in local currency in the third quarter.
“Sectors such as aerospace and automotive showed good demand for our industrial tools and assembly systems, but mining, oil, gas sectors were weak,” Atlas Copco CEO Ronnie Leten said in the statement.
