1) Strong Order Intake and Revenue Growth - Orders received reached a record SEK 52.3 billion, reflecting a 25% organic growth. - Revenues also hit a record of SEK 47.9 billion, with an 11% organic growth. - Vacuum Technique led the growth with an outstanding 82% organic growth, while Compressor Technique grew by 6%. - All business areas showed positive growth, with North America and Asia achieving 39% growth each.

2) Profitability and Margin Insights - Profit margins were reported at 20.8%, with an underlying margin of 21.3% after accounting for restructuring costs in Industrial Technique. - Operating profit increased to SEK 9.95 billion, up from SEK 8.5 billion YoY. - The effective tax rate improved to 21%, benefiting from tax credits, but is expected to rise to around 22.5% in the next quarter. - Sequential improvement in margins was noted, despite challenges from supply chain costs and currency fluctuations.

3) Regional Performance and Market Dynamics - Growth was observed across all continents, with Asia showing a remarkable 39% increase. - Europe managed an 8% growth despite a challenging macro environment, particularly in Compressor Technique. - The company is facing increased competition, especially in Europe, but maintains a solid market position. - Supply chain pressures, particularly from inflation and commodity prices, are impacting margins.

4) Operational Plans and Acquisitions - Four acquisitions were completed during the quarter, enhancing market reach and capabilities. - The company is focused on ramping up production capacity, particularly in Vacuum Technique, to meet demand. - Continued investment in innovation is emphasized across all business areas to drive future growth. - The company is cautious about predicting Q4 performance due to seasonal factors and market uncertainties.

5) Guidance and Outlook - The company remains optimistic about the semiconductor market and expects continued strong activity levels. - There is uncertainty regarding the impact of seasonality on orders between Q3 and Q4. - Management indicated that while they expect some margin expansion, it may not reach the levels seen in previous quarters.

Bottom line: Atlas Copco's Q3 2026 results showcase robust growth driven by strong order intake and record revenues, particularly in Vacuum Technique. Despite facing supply chain challenges and increased competition, the company is well-positioned for continued growth, supported by strategic acquisitions and a focus on innovation. Investors should remain optimistic but cautious about potential seasonal fluctuations in Q4.