Alfa Laval AB (publ) Interim report July 1 - September 30, 2011


“Order intake during the third quarter of the year reached a new record level of SEK 8.0 billion, out of which large orders again constituted more than SEK 500 million. Recently acquired Aalborg Industries contributed with SEK 700 million. Compared to the corresponding period last year order intake increased with 31 percent. On a like for like basis the increase was 21 percent. All regions showed growth and Asia, Latin America and Central and Eastern Europe accounted for 53 percent of the order intake for the Group.

Process Industry, Marine & Diesel and Food had the strongest development. A continued high activity level within refinery, petrochemicals, land based diesel power plants and plants for vegetable oil production were contributing factors. Demand for Sanitary and OEM, both fast moving businesses, decreased somewhat – a development that can be linked to the increased macro economic uncertainty.

Sales increased by 30 percent to SEK 7.6 billion at the same time as the operating result was SEK 1.4 billion, corresponding to an operating margin of 18.9 percent.”

Lars Renström, President and CEO

Summary: third quarter
Order intake increased by 37 percent* to SEK   8,018 ( 6,134 ) million.
Net sales increased by 37 percent* to SEK  7,571 ( 5,811 ) million.
Adjusted EBITA was SEK 1,431 ( 1,141 ) million.
Adjusted EBITA-margin was 18.9 ( 19.6 ) percent.
Result after financial items was SEK  1,113 ( 1,044 ) million.
Net income was SEK 780 ( 758 ) million.                                        
Earnings per share was SEK 1.84 ( 1.78 ) .
Cash flow from operating activities was SEK  1,031 ( 1,118 ) million.
Impact on EBITA of foreign exchange effects: SEK -114 ( 124 ) million.
Impact on result after financial items of:
-   Aalborg integration costs was SEK - (-) million
-   reversed restructuring provisions was SEK  ‑  (-) million.

Summary: first nine months
Order intake increased by 36 percent* to SEK  21,897 ( 17,490 ) million.
Net sales increased by 27 percent* to SEK  20,503 ( 17,551 ) million.
Adjusted EBITA was SEK 3,900 ( 3,345 ) million.
Adjusted EBITA-margin was 19.0 ( 19.1 ) percent.
Result after financial items was SEK  3,295 ( 3,091 ) million.
Net income was SEK 2,317 ( 2,211 ) million.                                        
Earnings per share was SEK 5.47 ( 5.20 ) .
Cash flow from operating activities was SEK  2,138 ( 3,017 ) million.
Impact on EBITA of foreign exchange effects: SEK -388 ( 324 ) million.
Impact on result after financial items of:
-   Aalborg integration costs was SEK -80 (-) million
-   reversed restructuring provisions was SEK - (80) million.

* excluding exchange rate variations

Outlook for the fourth quarter
"We expect that demand during the fourth quarter 2011 will be in line with or somewhat lower than in the third quarter."

Earlier published outlook (July 19, 2011): “We expect demand during the third quarter 2011 to be higher than the third quarter of 2010.”


The interim report has been reviewed by the company’s auditors, see page 23 for the review report.


For more information, please contact:
Peter Torstensson
Senior Vice President, Communications
Phone: +46 46 36 72 31
Mobile: +46 709 33 72 31
peter.torstensson@alfalaval.com

Gabriella Grotte
Investor Relations Manager
Phone: +46 46 36 74 82
Mobile: +46 709 78 74 82
gabriella.grotte@alfalaval.com

Alfa Laval AB (publ)
PO Box 73
SE-221 00 Lund
Sweden
Corporate registration number: 556587-8054

Alfa Laval AB (publ) discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 07.30 (CET) on October 21, 2011

 

 

About Us

Alfa Laval is a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling. The company's equipment, systems and services are dedicated to assisting customers in optimizing the performance of their processes. The solutions help them to heat, cool, separate and transport products in industries that produce food and beverages, chemicals and petrochemicals, pharmaceuticals, starch, sugar and ethanol. Alfa Laval's products are also used in power plants, aboard ships, in the mechanical engineering industry, in the mining industry and for wastewater treatment, as well as for comfort climate and refrigeration applications. Alfa Laval's worldwide organization works closely with customers in nearly 100 countries to help them stay ahead in the global arena. Alfa Laval is listed on Nasdaq OMX and, in 2011, posted annual sales of about SEK 28.6 billion (approx. 3.2 billion Euros). The company has today about 16 000 employees.

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