Alfa Laval AB (publ) Interim report January 1 - March 31, 2019

Strong order intake in Q1

  •  Demand remained on a high level across most of Alfa Laval’s end markets.
  •  Order intake reached new record level of SEK 12.2 billion.
  •  Marine order intake grew 51 %, mainly driven by environmental systems.
  •  Continued good demand from end markets in the Energy division.
  •  Food & Water operating margin at 16.6 %, boosted by higher net sales and a positive mix.
  •  The adjusted EBITA margin reached 17 % and the result in all divisions improved. Good cost control in sales and admin contributed.
  •  EPS increased by 16 % to SEK 2.90.

Summary 

First quarter

Order intake increased by 16 percent* to SEK 12,213 (10,025) million.
Net sales increased by 9 percent* to SEK 10,158 (8,851) million.
Adjusted EBITA**: SEK 1,728 (1,497) million.
Adjusted EBITA margin**: 17.0 (16.9) percent.
Result after financial items: SEK 1,622 (1,469) million.
Net income: SEK 1,225 (1,049) million.
Earnings per share: SEK 2.90 (2.49). 
Cash flow from operating activities
: SEK 959 (666) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 95 (35) million.
Impact on result after financial items of comparison distortion items: SEK - (67) million.
Return on capital employed (%) **: 21.9 (18.5)
Net debt to EBITDA, times **/***: 1.19 (1.22)

* Excluding currency effects. ** Alternative performance measures.
*** Net debt to EBITDA for Q1 2019 excluding IFRS 16 impact: 0.84.

Outlook for the second quarter

“We expect demand in the second quarter to be somewhat lower than in the first quarter.”

Earlier published outlook (February 5, 2019): “We expect demand in the first quarter to be somewhat higher than in the fourth quarter.”

Dividend

The Board of Directors propose a dividend of SEK 5.00 (4.25) per share.

The Q1 2019 report has not been subject to review by the company’s auditors.

This information is information that Alfa Laval AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at CET 12.45 on April 24, 2019.  

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,
E-mail: gabriella.grotte@alfalaval.com 
 

Alfa Laval AB (publ)
PO Box 73
SE-221 00 Lund
Sweden
 

Corporate registration number: 556587-8054 

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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, oil and gas exploration, 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 2016, posted annual sales of about SEK 35.6 billion (approx. 3.77 billion Euros). The company has about 17 000 employees.

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