Alfa Laval AB (publ) Interim report January 1 – March 31, 2006

“The order intake during the quarter increased with 37 percent. Both Eastern and Western Europe showed very strong growth. The improvement in Western Europe started during the end of last year. Our focus on profitability in combination with positive currency effects and high capacity utilization delivered a substantial improvement in the operating margin.” Lars Renström, President and CEO, Alfa Laval

Summary of the first quarter 2006: - Order intake increased to SEK 5,481 (4,004) million, meaning an increase by 27.9 percent excluding exchange rate variations. - Net sales increased to SEK 4,076 (3,268) million, meaning an increase by 16.2 percent excluding exchange rate variations. - Adjusted EBITA increased to SEK 525 (330) million, including positive foreign exchange effects of SEK 30 million. - Adjusted EBITA-margin increased to 12.9 (10.1) percent. - Result after financial items increased to SEK 426 (76) million. - Result after tax increased to SEK 333 (64) million. - Earnings per share increased to SEK 2.90 (0.49). - Cash flow from operating activities increased to SEK 392 (17) million. - The Tranter acquisition is included in the financial statements of the Alfa Laval Group as of March 1, 2006. Outlook for the near future "In most of the markets, geographical as well as customer segments, that Alfa Laval serves a continued very strong demand is expected." (The outlook for the near future has not been changed compared to the outlook in the fourth quarter and full year 2005 report issued on February 9, 2006.)