Alfa Laval AB (publ) Interim Report April 1 - June 30, 2015
July 16 2015 - 02:40AM
Business Wire
Regulatory News:
Alfa Laval (STO:ALFA)
“Net sales and result reached record levels for a second
quarter. Compared to the corresponding periods last year they
increased with 21 and 35 percent respectively to 10.2 and 1.8
billion SEK. The operating margin also reached a very good level of
17.9 percent. Through strong cash flows, the net debt to EBITDA is
already below 2. The order intake was 9.1 billion, which
corresponds to a sequential downturn of 3 percent, adjusted for the
revaluation of the order backlog that due to large currency
movements impacted the first quarter.
Despite a weak demand from customers within oil and gas, the
Process Technology division only reported a decline in order intake
of slightly more than 2 percent. We believe that we can see a
stabilization of the demand within oil and gas on the current
level. For the other capital sales segments the development was
stable to positive. Service showed growth, also for oil and
gas.
The Marine & Diesel division showed a sequential downturn,
mainly explained by Marine & Offshore Pumping Systems. The
segment was impacted by lower contracting at the yards and by fewer
offshore orders being booked in the quarter. Marine & Diesel
Equipment showed an upturn, driven by a positive demand development
for installation of ballast water systems in existing ships.
Within the Equipment division the order intake increased
sequentially, driven by a positive development for all segments.
Industrial Equipment did particularly well, benefitting from a
seasonally stronger demand as well as from a large district heating
order from China.”
Lars Renstr�m, President and CEO
Summary: second quarter
Order intake decreased by 7 percent* to SEK 9,146 (8,969)
million.
Net sales increased by 11 percent* to SEK 10,177 (8,423)
million.
Adjusted EBITA was SEK 1,818 (1,348) million.
Adjusted EBITA margin was 17.9 (16.0) percent.
Result after financial items was SEK 1,457 (1,159)
million.
Net income was SEK 1,075 (796) million.
Earnings per share was SEK 2.54 (1.89).
Cash flow from operating activities was SEK 1,505 (1,174)
million.
Impact on EBITA of foreign exchange effects was SEK 182 (-10)
million.
Impact on result after financial items of comparison distortion
items was SEK - (-) million.
Summary: first six months
Order intake increased by 5 percent* to SEK 18,990 (16,443)
million.
Net sales increased by 17 percent* to SEK 19,248 (15,020)
million.
Adjusted EBITA was SEK 3,388 (2,410) million.
Adjusted EBITA margin was 17.6 (16.0) percent.
Result after financial items was SEK 2,721 (1,953)
million.
Net income was SEK 1,938 (1,360) million.
Earnings per share was SEK 4.59 (3.23).
Cash flow from operating activities was SEK 2,606 (1,766)
million.
Impact on EBITA of foreign exchange effects was SEK 330
(‑20) million.
Impact on result after financial items of comparison distortion
items was SEK - (-60) million.
* Excluding currency effects.
Outlook for the third quarter
“We expect that demand during the third quarter 2015 will be on
about the same level as in the second quarter.” Earlier published
outlook (April 23, 2015): “We expect that demand during the second
quarter 2015 will be somewhat lower than in the first quarter.”
The interim report has not been subject to review by the
company’s auditors.
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 herein
pursuant to the Securities Markets Act and/or the Financial
Instruments Trading Act. The information was submitted for
publication at 08.30 CET on July 16, 2015.
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version on businesswire.com: http://www.businesswire.com/news/home/20150715006744/en/
Alfa LavalPeter TorstenssonSenior Vice President,
CommunicationsPhone: +46 46 36 72 31Mobile: +46 709 33 72 31
peter.torstensson@alfalaval.comorGabriella GrotteInvestor Relations
ManagerPhone: +46 46 36 74 82Mobile: +46 709 78 74 82
gabriella.grotte@alfalaval.com
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