Alfa Laval AB (publ) Interim report April 1 - June 30, 2013

“Order intake was SEK 7.6 billion during the second quarter, which was slightly better than the previous quarter. Both Equipment and Process Technology developed in line with our expectations, while the Marine & Diesel division arrived somewhat higher.

Marine showed good growth, mainly driven by larger orders for exhaust gas cleaning systems. Equipment was lifted by seasonal factors as well as successful product introductions within heat transfer. Process Technology was at an unchanged level; good growth for the base business due to a continued favourable business climate at the same time as slightly fewer large orders were booked.

All regions showed sequential growth except North America. There the order intake decreased slightly due to postponement of projects at customers in the oil and gas sector due to lack of resources. In Asia, our activities in China reported broad-based growth since the wait-and-see mode that has characterized the last quarters’ investments seemed to have eased somewhat.

With regard to profit before tax it is important to note that the level is actually higher than last year, excluding negative fx-effects of SEK 166 million.”

Lars Renström, President and CEO

Summary: second quarter
Order intake increased by 1 percent* to SEK 7,558 (7,904) million.
Net sales increased by 2 percent* to SEK 7,549 (7,811) million.
Adjusted EBITA was SEK 1,237 (1,289) million.
Adjusted EBITA margin was 16.4 (16.5) percent.
Result after financial items was SEK 969 (1,107) million.
Net income was SEK 644 (721) million.                                        
Earnings per share was SEK 1.53 (1.71).
Cash flow from operating activities was SEK 1,038 (640) million.
Impact on EBITA of foreign exchange effects was SEK -63 (12) million.

Summary: first six months
Order intake decreased by 2 percent* to SEK 14,718 (15,799) million.
Net sales increased by 1 percent* to SEK 14,084 (14,642) million.
Adjusted EBITA was SEK 2,304 (2,417) million.
Adjusted EBITA margin was 16.4 (16.5) percent.
Result after financial items was SEK 1,896 (2,127) million.
Net income was SEK 1,347 (1,456) million.                                        
Earnings per share was SEK 3.20 (3.45).
Cash flow from operating activities was SEK 2,012 (1,677) million.
Impact on EBITA of foreign exchange effects was SEK ‑95 (-13) million.

* excluding exchange rate variations

Outlook for the third quarter
"We expect that demand during the third quarter 2013 will be on about the same level as in the second quarter.”
Earlier published outlook (April 23, 2013): “We expect that demand during the second quarter 2013 will be on about the same level as in the first quarter.”

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 18, 2013.