Alfa Laval AB (publ) Interim report July 1 - September 30, 2008
“The demand remained on a high level during the third quarter and order intake reached SEK 6.8 billion. The strongest customer segment was Energy & Environment
that continued to develop favourably. In Marine & Diesel the demand from the shipyards started to soften while the demand for diesel power plants strengthened.
Asia, Eastern Europe and Latin America accounted for 48 percent of the Group’s order intake. North America had the strongest development, partly supported by acquisitions.
Alfa Laval improved EBITA with 8 percent to SEK 1,444 million. An increase of invoicing with 4 percent to SEK 6.6 billion and a favourable product mix gave an
operating margin of 21.8 percent”
Lars Renström, President and CEO
“The demand remained on a high level during the third quarter and order intake reached SEK 6.8 billion. The strongest customer segment was Energy & Environment
that continued to develop favourably. In Marine & Diesel the demand from the shipyards started to soften while the demand for diesel power plants strengthened.
Asia, Eastern Europe and Latin America accounted for 48 percent of the Group’s order intake. North America had the strongest development, partly supported by acquisitions.
Alfa Laval improved EBITA with 8 percent to SEK 1,444 million. An increase of invoicing with 4 percent to SEK 6.6 billion and a favourable product mix gave an
operating margin of 21.8 percent”
Lars Renström, President and CEO
Third quarter:
Order intake decreased by 3.4 percent * to SEK 6,784 (7,150) million.
Net sales increased by 4.9 percent * to SEK 6,632 (6,385) million.
Adjusted EBITA was SEK 1,444 (1,340) million, including adverse foreign exchange effects of SEK 94 million.
Adjusted EBITA-margin was 21.8 (21.0) percent.
Result after financial items was SEK 1,418 (1,252) million.
Result after tax increased to SEK 1,001 (922) million.
Earnings per share increased to SEK 2.32 (2.08).
Cash flow from operating activities was SEK 1,256 (976) million.
Nine months:
Order intake increased by 4.3 percent * to SEK 21,283 (20,977) million.
Net sales increased by 14.5 percent * to SEK 19,754 (17,629) million.
Adjusted EBITA was SEK 4,439 (3,305) million, including adverse foreign exchange effects of SEK 226 million.
Adjusted EBITA-margin was 22.5 (18.7) percent.
Result after financial items was SEK 4,130 (2,970) million.
Result after tax increased to SEK 2,937 (2,124) million.
Earnings per share increased to SEK 6.79 (4.72).
Cash flow from operating activities was SEK 3,185 (2,014) million.
* excluding exchange rate variations
Outlook for the fourth quarter
“We expect demand during the fourth quarter to be in line with, or somewhat lower, compared to the same period 2007.”
Earlier published outlook (July 16, 2008): “We expect the demand to remain on the current high level.”
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
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 07.30 a.m. on October 22, 2008.