Alfa Laval AB (publ) Interim Report July 1 - September 30, 2015
October 27 2015 - 2:49AM
Business Wire
Regulatory News:
“Net sales and result reached record levels for a third quarter.
At the same time strong cash flows contributed to a reduction of
the net debt in relation to EBITDA to below 1.8. The order intake
was 8.7 billion – a sequential downturn of 5 percent, mainly
explained by fewer large orders being booked.
Within Process Technology the order intake increased somewhat,
thanks to the Food & Life Science segment. Demand from the oil
and gas sector was on the whole slightly higher than the previous
quarter, with good growth in the midstream business and
petrochemicals. Marine & Diesel showed a sequential downturn,
reflecting lower demand for new equipment. A favourable mix of ship
contracts dampened the downturn. Service showed growth, with a
particularly good development within pumping systems. Within the
Equipment division the order intake decreased sequentially, partly
due to vacation effects and a large non-recurring order, partly due
to lower demand within Sanitary.
Asia showed a positive development. The market in China grew
somewhat, where especially the food related demand developed well.
The U.S. showed a decline, primarily explained by larger orders not
being repeated. The oil and gas related business was unchanged
compared to the previous quarter.”
Lars Renstr�m, President and CEO
Summary: third quarter
Order intake decreased by 15 percent* to SEK 8,686 (9,708)
million.
Net sales increased by 0.4 percent* to SEK 9,693 (9,272)
million.
Adjusted EBITA was SEK 1,677 (1,545) million.
Adjusted EBITA margin was 17.3 (16.7) percent.
Result after financial items was SEK 1,338 (991)
million.
Net income was SEK 988 (697) million.
Earnings per share was SEK 2.34 (1.65).
Cash flow from operating activities was SEK 1,369 (1,667)
million.
Impact on EBITA of foreign exchange effects was SEK 40 (-7)
million.
Impact on result after financial items of comparison distortion
items was SEK - (-260) million.
Summary: first nine months
Order intake decreased by 2 percent* to SEK 27,676 (26,151)
million.
Net sales increased by 11 percent* to SEK 28,941 (24,292)
million.
Adjusted EBITA was SEK 5,065 (3,955) million.
Adjusted EBITA margin was 17.5 (16.3) percent.
Result after financial items was SEK 4,059 (2,944)
million.
Net income was SEK 2,926 (2,057) million.
Earnings per share was SEK 6.93 (4.88).
Cash flow from operating activities was SEK 3,975 (3,433)
million.
Impact on EBITA of foreign exchange effects was SEK 370
(-27) million.
Impact on result after financial items of comparison distortion
items was SEK - (-320) million.
* Excluding currency effects.
Outlook for the fourth quarter:
“We expect that demand during the fourth quarter 2015 will be in
line with or somewhat higher than in the third quarter.” Earlier
published outlook (July 16, 2015): “We expect that demand during
the third quarter 2015 will be on about the same level as in the
second quarter.”
The interim report has been reviewed by the company’s auditors,
see page 24 for the review report.
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 07.30 (CET) on October 27, 2015.
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Peter TorstenssonPhone: +46 46 36 72 31Mobile: +46 709
33 72 31Senior Vice President,
Communicationspeter.torstensson@alfalaval.comorGabriella
GrottePhone: +46 46 36 74 82 Mobile: +46 709 78 74
82Investor Relations Managergabriella.grotte@alfalaval.com
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