Alfa Laval AB (publ) Interim report July 1 - September 30, 2019

Strong sales and profit in Q3

  • Both sales and operating income reached record levels, driven by strong performance in all divisions.
  • Order intake decreased somewhat, but with continued high demand in most end markets.
  • Continued strong service order growth, plus 14 percent in the quarter.
  • Continued high pace in the product launch programme, R&D increased 17 percent.
  • EPS increased by 34 percent.

Summary

Third quarter

Order intake decreased by 10 percent* to SEK 10,728 (11,357) million.
Net sales increased by 15 percent* to SEK 12,056 (10,131) million. 
Adjusted EBITA**: SEK 2,141 (1,736) million.
Adjusted EBITA margin**: 17.8 (17.1) percent.
Result after financial items: SEK 1,907 (1,458) million.
Net income: SEK 1,447 (1,074) million.                                        
Earnings per share: SEK 3.43 (2.56).
Cash flow from operating activities: SEK 1,247 (1,350) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 85 (50) million.
Impact on result after financial items of comparison distortion items: SEK -5 (39) million.

First nine months

Order intake decreased by 6 percent* to SEK 32,966 (33,444) million.
Net sales increased by 10 percent* to SEK 33,553 (29,457) million. 
Adjusted EBITA**: SEK 5,739 (4,931) million.
Adjusted EBITA margin**: 17.1 (16.7) percent.
Result after financial items: SEK 5,361 (4,426) million.
Net income: SEK 4,084 (3,240) million.                                        
Earnings per share: SEK 9.69 (7.70).
Cash flow from operating activities: SEK 2,831 (3,393) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 275 (5) million.
Impact on result after financial items of comparison distortion items: SEK 191 (137) million.
Return on capital employed (%) **: 22.5 (22.1).
Net debt to EBITDA, times **/***: 1.13 (1.08).

* Excluding currency effects.
** Alternative performance measures.

*** Net debt to EBITDA for first nine months 2019 excluding IFRS 16 impact: 0.82.

Outlook for the fourth quarter

“We expect demand in the fourth quarter to be somewhat higher than in the third quarter.”
Earlier published outlook (July 17, 2019): “We expect demand in the third quarter to be somewhat higher than in the second quarter.”

The Q3 2019 report has been reviewed by the company’s auditors, see page 25 for the review report.

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 above, at CET 7.30 on October 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


Joel Davidsson, Interim Investor Relations Manager
Phone: +46 46 36 77 72
Mobile: +46 730 35 46 03
E-mail: joel.davidsson@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 active in the areas of Energy, Marine, and Food & Water, offering its expertise, products, and service to a wide range of industries in some 100 countries. The company is committed to optimizing processes, creating responsible growth, and driving progress – always going the extra mile to support customers in achieving their business goals and sustainability targets. Alfa Laval’s innovative technologies are dedicated to purifying, refining, and reusing materials, promoting more responsible use of natural resources. They contribute to improved energy efficiency and heat recovery, better water treatment, and reduced emissions. Thereby, Alfa Laval is not only accelerating success for its customers, but also for people and the planet. Making the world better, every day. It’s all about Advancing better™. Alfa Laval has 17,500 employees. Annual sales in 2019 were SEK 46.5 billion (approx. EUR 4.4 billion). The company is listed on Nasdaq OMX.

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