Alfa Laval AB (publ) Interim report April 1 - June 30, 2012

“Order intake was SEK 7.9 billion during the second quarter, an increase with 6 percent compared to the corresponding quarter 2011. Sequentially the order intake was unchanged.
The demand for the Process Technology division remained on a continued high level. The demand was strongest from the process industry. The Equipment division achieved growth at the end of the quarter due to seasonality. In the Marine & Diesel division good demand from the aftermarket and land based diesel power stations partly mitigated the downturn in capital sales to the shipbuilding industry.
All regions in Europe achieved growth compared to 2011 due to several larger orders and an unchanged base business.
Sales increased by 11 percent to SEK 7.8 billion at the same time as the operating result was SEK 1.3 billion, corresponding to an operating margin of 16.5 percent.
Compared to last year the operating margin was negatively affected by product mix and lower capacity utilization in some factories. The operating margin was unchanged compared to the first quarter.”
Lars Renström, President and CEO

Summary: second quarter
Order intake increased by 3 percent* to SEK 7,904 (7,424) million.
Net sales increased by 7 percent* to SEK 7,811 (7,033) million.
Adjusted EBITA was SEK 1,289 (1,335) million.
Adjusted EBITA margin was 16.5 (19.0) percent.
Result after financial items was SEK 1,107 (1,175) million.
Net income was SEK 721 (811) million.                                        
Earnings per share was SEK 1.71 (1.92).
Cash flow from operating activities was SEK 640 (669) million.
Impact on EBITA of foreign exchange effects was SEK 12 (-189) million.
Impact on result after financial items of:
-  Aalborg integration costs was SEK - (-80) million.

Summary: first six months
Order intake increased by 11 percent* to SEK 15,799 (13,879) million.
Net sales increased by 11 percent* to SEK 14,642 (12,932) million.
Adjusted EBITA was SEK 2,417 (2,469) million.
Adjusted EBITA margin was 16.5 (19.1) percent.
Result after financial items was SEK 2,127 (2,182) million.
Net income was SEK 1,456 (1,537) million.                                        
Earnings per share was SEK 3.45 (3.63).
Cash flow from operating activities was SEK 1,677 (1,107) million.
Impact on EBITA of foreign exchange effects was SEK -13 (-274) million.
Impact on result after financial items of:
-  Aalborg integration costs was SEK - (-80) million.

* excluding exchange rate variations


Outlook for the third quarter
“We expect that demand during the third quarter 2012 will be on about the same level as in the second quarter.”

Earlier published outlook (April 23, 2012): “We expect that demand during the second quarter 2012 will be on about the same level as in the first quarter, excluding large orders.”

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
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 08.30 CET on July 17, 2012.

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