Interim report April 1-June 30, 2002

Interim report April 1 - June 30, 2002 "The first half of the year 2002 developed fully in line with our expectations. We estimate that this will also be the case for the second half", says Sigge Haraldsson, CEO Alfa Laval. In summary: · The company's shares were listed on the Stockholm Stock Exchange's O-list on May 17. The initial price was set to 91 SEK per share; · The new issue of shares in connection with the IPO has together with on-going amortisation decreased the financial net debt by MSEK 3 491 since the beginning of the year; · Adjusted EBITA(2) for the second quarter 2002 was MSEK 445 (485). During the first six months adjusted EBITA amounted to MSEK 807 (851); · The adjusted EBITA(2)-margin for the second quarter was 12,2 percent (12,7). The adjusted EBITA-margin for the first six months 2002 was 11,7 percent (11,7); · Net sales during the second quarter was MSEK 3 654 (3 807). Excluding divested activities and exchange rate variances, net sales increased during the second quarter 2002 by 1,2 percent. Net sales amounted to MSEK 6 916 (7 259) for the first six months; · Orders received during the second quarter were MSEK 3 964 (4 087). Excluding divested activities and exchange rate variances, orders received increased during the second quarter by 0,8 percent. Orders received amounted to MSEK 7 645 (8 205) for the first six months; · Cash flows from operating activities were MSEK 937 (899) for the first six months; · The return on capital employed including goodwill and step up values amounted to 17,7 percent (15,2) for the first six months; · The result after financial items was MSEK -193 (46) for the first six months. Non-recurring costs related to the change in capital structure in connection with the IPO have burdened the result by MSEK 304. Expectations for the rest of the year During the autumn 2001 a decreased demand was noted. For 2002, a decrease of orders received of approximately 4 % was estimated, with a weaker first six months and a certain recovery during the last six months. Despite the further increased uncertainty in the world economy during the last quarter, the estimate remains. Despite the downturn in orders received, the EBITA-margin is expected to improve for the current year compared to 2001. The improved profitability is achieved through higher gross margins and lower overheads. The operations are thus very well prepared to further increase the profitability when the upturn in the economy comes. Q202 Q201 1.1-30.6 1.1-30.6 2001 2002 2001 Order intake 3 964 4 087 7 645 8 205 15 894 MSEK MSEK MSEK MSEK MSEK Net sales 3 654 3 807 6 916 7 259 15 830 MSEK MSEK MSEK MSEK MSEK Adjusted EBITDA 1) 528 MSEK 584 MSEK 978 MSEK 1 053 2 138 MSEK MSEK Adjusted EBITA 2) 445 MSEK 485 MSEK 807 MSEK 851 MSEK 1 738 MSEK Adjusted EBITA2)-- 12,2% 12,7% 11,7% 11,7% 11,0% margin Result after - 253 - 33 - 193 46 MSEK 42 MSEK financial items MSEK MSEK MSEK Return on capital 17,7% 15,2% 18,5% employed No. of employees 3) 9 399 9 493 9 399 9 493 9 259 1) Adjusted EBITDA - "Earnings before interests, taxes, depreciation, amortisation of goodwill and step up values and comparison distortion items." 2) Adjusted EBITA - "Earnings before interests, taxes, amortisation of goodwill and step up values and comparison distortion items. 3) Number of employees at the end of the period. Lund, August 22, 2002 Sigge Haraldsson President and CEO Alfa Laval AB (publ) ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/08/22/20020822BIT00040/wkr0001.doc The full report http://www.waymaker.net/bitonline/2002/08/22/20020822BIT00040/wkr0003.pdf The full report

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 2018, posted annual sales of about SEK 40.7 billion (approx. 4.0 billion Euros). The company has about 17 200 employees.

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