Atlas Copco's mining spin-off focuses the company on its core competencies.
Atlas Copco's results were broadly in line with our expectations on a reported basis, but with stronger underlying growth. Margins remained stable. The company is planning to spin off the mining and civil engineering divisions in June, and the remaining core of the business increased revenue organically by 7%-15%, with orders outpacing revenue, leading to a book/bill ratio above 1 time, positive for growth in the next quarter. We expect to revise our forecasts and our SEK 272 fair value estimate...
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