First quarter 2011
“The demand developed positively during the first quarter of the year. The order intake increased by 27 percent to SEK 6.5 billion, compared to the corresponding period last year. Increases are reported by all segments and regions.
Within oil and gas extraction the high energy prices contributed to continued investments in new capacity. At the same time Process Industry developed well and petrochemicals did particularly well, characterized by high capacity utilisation among customers. Marine & Diesel also had a strong development, especially in China, due to last year’s good order intake for the shipyard industry. Furthermore, a very good development was seen for Food Technology as well as Sanitary, amongst other driven by a structural demand in the fast growing regions of the world.
Sales increased to SEK 5.9 billion at the same time as the operating result was SEK 1.1 billion, corresponding to an operating margin of 19.2 percent.”
Lars Renström, President and CEO
|Summary: first quarter
Order intake increased by 38 percent* to SEK 6,455 (5,089) million.
Net sales increased by 19 percent* to SEK 5,899 (5,381) million.
Adjusted EBITA was SEK 1,134 (1,012) million.
Adjusted EBITA-margin was 19,2 (18.8) percent.
Result after financial items was SEK 1,007 (900) million.
Net income was SEK 726 (615) million.
Earnings per share was SEK 1.71 (1.45).
Cash flow from operating activities was SEK 438 (1,007) million.
Impact on EBITA of foreign exchange effects: SEK -85 (95) million.
* excluding exchange rate variations
The Board of Directors propose a dividend of SEK 3.00 (2.50) per share and a mandate for repurchase of up to 5 percent of the issued shares to the Annual General Meeting.
Outlook for the second quarter
“We expect demand during the second quarter 2011 to be somewhat higher than the second quarter 2010.”
Earlier published outlook (February 8, 2011): “We expect demand during the first quarter 2011 to be on about the same level as during the fourth quarter 2010.”
The interim report has not been subject to review by the company’s auditors.
For more information, please contact:
Peter Torstensson, Senior Vice President, Communications
Phone: +46 46 36 72 31
Mobile: +46 709 33 72 31
Gabriella Grotte, Investor Relations Manager
Phone: +46 46 36 74 82
Mobile: +46 709 78 74 82
Alfa Laval AB (publ)
PO Box 73
SE-221 00 Lund
Corporate registration number: 556587-8054
Alfa Laval AB (publ) discloses the information provided herin pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 13.45 p.m. on April 27, 2011.