Alfa Laval's Annual Report 2003 published

Alfa Laval's Annual Report 2003 published Alfa Laval's Annual Report 2003 has been published. The Annual Report can be read on the company's homepage, www.alfalaval.com, and is now being sent by mail to the shareholders that have requested it. In the Annual Report Alfa LavaI's President and CEO Sigge Haraldsson repeats the company's outlook for 2004. - Markets recovered during the second half of 2003 within most of the customer segments in which Alfa Laval is active. It is our opinion that the recovery will continue during 2004. Assuming that the recovery will not be affected by unforeseen events in the world, we believe in a strong increase in orders received during 2004. - We assess that the EBITA-margin, excluding currency effects, will be improved. Financial goals and standards Alfa Laval also repeats its financial goals: - The growth goal is five percent on average per year over a business cycle - The goal for the EBITA-margin is 12 - 15 percent of sales. - Return on capital employed (ROCE) shall reach 20 percent. As financial standards Alfa Laval repeats that debt/equity ratio shall be below 1.0, cash flows from operating activities between 10 and 14 percent of sales and investments approximately 2.5 percent of sales. For further information: Mikael Sjöblom Investor Relations Manager Alfa Laval AB Tel: +46 46 36 74 82 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/04/02/20040401BIT20900/wkr0005.pdf Annual report 2003 published