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Epiroc, which had left Atlas Copco in June, reported operating profit of SEK 1,898 million for the third quarter of 2018. On average, 13 analysts predict that Infront Data compiled for the report was a profit for the year. operation of SEK 1 998 million.
Net sales amounted to SEK 9,651 million, or exactly € 9,651 million in the analyst section of Infront Data. Order intake amounted to SEK 9 413 million, compared with an average of EUR 10 360 million.
Dissatisfied with the increase in working capital
Per Lindberg, CEO of Epiroc, is not happy that the working capital of the company has increased in the third quarter.
This is indicated in the interim report.
Epiroc's working capital increased by SEK 599 million during the quarter, mainly due to higher inventories.
"This is not satisfactory and we continue to solve it in the short and long term," Per Lindberg said.
Equipment shipments in the third quarter were broadly in line with second quarter shipments.
"Our manufacturing capacity has improved and our work to adapt to demand is yielding results." The operating margin has been boosted by currency conversion as well as by growth, mainly in the Equipment & Services sector. For Tools & Attachments, the margin has improved somewhat compared to the last quarter, reinforced by our efficiency measures, "continues the boss of Epiroc.
Net working capital amounted to SEK 13 465 million at the end of the period, an increase of 37% over the previous year mainly due to higher volumes and the corresponding increase in inventory and accounts receivable, partially offset by an increase in accounts receivable.
Average working capital as a percentage of revenue remained at about the same level as in the second quarter of 2018.
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