Sales continued to ascend strongly in the second quarter of 2023, rising 31% year on year to SEK 43.4 billion as Atlas Copco works through its considerable backlog of orders from 2022 and early 2023.

As you can see, the company, since that rating, has broadly underperformed the market in a significant way - over 15%. Based on this, I clearly believe that my rating was the correct one here. The ...