Of course, that was a fantastic demand last year. and solid continued growth for service. They are very good at promoting service, helping customers with uptime and gaining ground every quarter. Record revenues, 15% organic and SEK 20 billion, and up 15% as said. And I think a fantastic operating margin at 24.8. I also like to highlight the innovation there. If you follow us closely, you can see that quarter after quarter, we present new products for the clean tech segments. And in this case, the compressor that fits into the carbon capture system. So another piece of equipment that will be promoted and is promoted now when we see more and more carbon capture applications. We talk about air compressors normally. I think we need to change that a little bit motor as a gas because when we see when we compress today, of course, it’s air but it’s also oxygen, its nitrogen, its hydrogen, it’s carbon and many other gases, and a lot of them linked into the new clean technology.
So it’s much broader than just compressing air these days. Vacuum Technology, Slide 11. So orders, you can look at the graph and of course, you can see that it’s quite a sharp decline. On the other side, the SEK 8 billion is not bad orders received historically. So, it’s on a good level where we should make good money, minus 5%. And here, we see a little bit of change. And we are ready for the uptick in semiconductor when it will come. It’s not here and now, as you understand. We do not see a lot of indication that it would change dramatically in the coming quarter. We see, although that there is a lot of construction going on in the industry. But this is also a lot of delays or pushouts on these designs on new plants. And we have not seen much of the U.S. feedback in our order books just yet.
So we are ready. It’s flattening out and we have a bunch of new products to introduce to that segment as well. They continue to push out products, a record revenue, up 3% at SEK 11 billion and operating margin at 21.3. So in the sequence, what will happen, of course, is that when there was a peak of utilization, we could see it up to 95% in semi. We think that the investment point is somewhere around 85%. And if we look at some of our customers, they are pushing out approximately utilization of 75%. So utilization, price and then CapEx. If you go to Slide number 12. You have Industrial Technique continue to grow at 3%, SEK 6.4 billion. I mentioned it earlier, auto in Asia was weaker at the same time the Europe was a little bit stronger but was stand out a little bit as the general industry business, off-highway, aerospace and vision system.
And also here, we had a positive development of service. Record revenues at 11%, up SEK 7.4 billion and record operating profit with a margin at 21.4. So product that we’re introducing that I think is replacing then this is for the car industry with auto the industry. It’s from the ISA portfolio, a new product, it’s paint inspection instead of doing it manually, you can actually use this. It’s a robot. As you can see in our system is the black box there. and then it can scan and actually do a much better job than a human being and identify possible things that they need to correct. I think it’s quite an interesting product. And last of the business side on Page 13 is Power Technique. They had a tough — a little bit tougher comparison but orders declined 11% and SEK 5.2 billion.
Equipment was down and specialty rental continue to do really, really well. And there we have also broadened the portfolio used to be oil-free air. We do steam, we do pump, we do generators. We do energy storage. So it’s quite a larger portfolio but I should highlight that everything we do is special. So we help the customer to install and engineer some of these products and continued service increase. Revenue increase of 10% and SEK 6.9 billion and continued strong operating profit for PT at 19.1. And here, other product in this tech portfolio for a sustainable environment. This is the one of the bigger micro grids that you can have on the construction side, for example. And then we come to Slide 14, which is the profit and loss, and then you can see the EBITA then where we take away the intangibles and then the EBIT at the report at 20.2. And then you have the adjustment that we already mentioned.
Why don’t I hand over to you, Peter?
Peter Kinnart: Thank you, Mats. Then continuing on the same page, 14, you see the net financial items, which are slightly higher than last year and not really material, but basically due to higher interest costs during the quarter compared to the same quarter last year. And then a profit before tax of SEK 8.8 billion and an income tax expense of SEK 2.1 billion, which corresponds to an effective tax rate of 23.2%. This is slightly up and has mostly to do with the fact that we are selling more in geographies with higher nominal tax rates, also territories where there are holding taxes on dividends. And as a result of that, we see a higher weighted nominal tax rate and therefore, also a higher effective tax rate. Finally, also the fact that the corporate income tax in the U.K. has increased to 23.5% this year, is also a contributing factor to the higher tax cost that we need to take into account.
For next year, we expect that the effective tax rate will continue to increase based again on the same factors. First of all, the weighted nominal tax rate going up due to the growth in those countries where the nominal tax rates tend to be higher to start with, and in some markets, also the higher — the fact that we are exposed to withholding tax on the dividends and the continued increase of the corporate income tax rate in some other territories, including, for example, Ireland due to the European regulations to have the minimum 15% tax in the European territory. After tax, that gives us a profit for the period of SEK 6.8 billion, and that leads them to basic earnings per share for the quarter of SEK 1.39 and a return on capital employed of 30%, very close to the return on capital equity of 32%.
