The stock market is giving Atlas Copco a thumbs-up. The company’s share price surged by just over 6 percent after its quarterly results. By 2:40 p.m., the rise had slowed to just over 4 percent.
The Vacuum Technology business area - where the semiconductor industry plays a crucial role - saw order intake rise by 60 percent and profits by 30 percent.
Vagner Rego says the company can benefit from global AI developments.
To use AI, you need data centres, and data centres are full of chips that need to be produced in the semiconductor industry.
Rego believes the industry can grow with new technologies.
"Now there are data centres, but in the future there may be data centres in space and self-driving cars that require AI chips. If you take a five- to ten-year perspective, many chips will need to be produced with our vacuum technology," he says.
How far away are data centres in space?
There are discussions that show that these are not just ambitions, but actual plans. We are in contact with customers who are ready to move in that direction.
Which customers?
We can't say that.
Middle East big challenge
Geographically, the increased demand for the Group's products comes primarily from North America, up 49 percent, and Asia/Oceania, up 47 percent.
In Africa/Middle East, however, order intake decreased.
"Business in Africa is quite good. The big challenge is the Middle East, where the conflict is creating a lot of uncertainty among our customers," says Rego.
For the entire group, Atlas Copco reports a profit before tax of SEK 9.1 billion. This compares with a profit of SEK 8.4 billion in the corresponding quarter last year.
Better than expected
Adjusted operating profit rose to 9.4 billion, from 8.4 billion, according to the company's second-quarter interim report. This was better than expected. The average forecast was 9.2 billion, according to Bloomberg.
Order intake in the quarter rose 27 percent to almost 51 billion, while revenue rose 9 percent to 45 billion.
The future is very bright. We are well positioned in several technologies for the future, says Rego.
