Atlas Copco has had three record years behind it from 2021 to 2023 and this week it was time for the company to summarize the full year 2024.

Optimism about the company

Atlas Copco has long been the absolute heaviest holding in Swedish Investor’s portfolio, but given the weak price development in 2024, that position has been taken over by ABB. However, it can be said that these two are currently fighting for first place:

Allocation – Investor’s portfolio

If we listen to Investor CEO Christian Cederholm, he has no concerns about Atlas Copco and the fact that it has fallen behind a bit in 2024. Now at the beginning of 2025, the stock has performed really strongly. Someone who saw a buying opportunity ahead of the report was the head of equities at Carnegie Private Banking Karl Hedberg.

But regarding the semiconductor industry, that sector was shaken up quite a bit this week by Deepseek.

Atlas Copco increases dividend

The board of directors proposes a dividend of SEK 3.0 per share. This is an increase from SEK 2.80 the year before. This was also in line with analysts’ forecasts, so perhaps not a positive surprise in that sense.

The report

I would say the report in general was strong.

Sales increased by 2% in the fourth quarter, but organic growth was 0%. Analysts had expected lower sales figures.

Adjusted operating profit also came in quite a bit above analysts’ expectations: SEK 10,029 million versus the expected SEK 9,632 million.

What’s interesting is that the stock is up over 3% thanks to the numbers. That puts it at the same level as yesterday before the information regarding Deepseek was released…

I will probably never understand the market’s short-term thinking, but I don’t need to either. Despite everything, I’m happy with how people are reacting. It creates good opportunities for long-term investors.

 Do comment and subscribe.