Alfa Laval AB (publ) Interim report January 1 - March 31, 2019

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Strong order intake in Q1

•  Demand remained on a high level across most of Alfa Laval’s end markets.


•  Order intake reached new record level of SEK 12.2 billion.


•  Marine order intake grew 51 %, mainly driven by environmental systems.


•  Continued good demand from end markets in the Energy division.


•  Food & Water operating margin at 16.6 %, boosted by higher net sales and a positive mix.


•  The adjusted EBITA margin reached 17 % and the result in all divisions improved. Good cost control in sales and admin contributed.


•  EPS increased by 16 % to SEK 2.90.

Summary 

First quarter

Order intake increased by 16 percent* to SEK 12,213 (10,025) million.
Net sales increased by 9 percent* to SEK 10,158 (8,851) million.
Adjusted EBITA**: SEK 1,728 (1,497) million.
Adjusted EBITA margin**: 17.0 (16.9) percent.
Result after financial items: SEK 1,622 (1,469) million.
Net income: SEK 1,225 (1,049) million.
Earnings per share: SEK 2.90 (2.49). 
Cash flow from operating activities: SEK 959 (666) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 95 (35) million.
Impact on result after financial items of comparison distortion items: SEK - (67) million.
Return on capital employed (%) **: 21.9 (18.5)
Net debt to EBITDA, times **/***: 1.19 (1.22)

* Excluding currency effects. ** Alternative performance measures.
*** Net debt to EBITDA for Q1 2019 excluding IFRS 16 impact: 0.84.

Outlook for the second quarter

“We expect demand in the second quarter to be somewhat lower than in the first quarter.”

Earlier published outlook (February 5, 2019): “We expect demand in the first quarter to be somewhat higher than in the fourth quarter.”

Dividend

The Board of Directors propose a dividend of SEK 5.00 (4.25) per share.

The Q1 2019 report has not been subject to review by the company’s auditors.

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 below, at CET 12.45 on April 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

Gabriella Grotte,
Investor Relations Manager
Phone: +46 46 36 74 82,
Mobile: +46 709 78 74 82,
E-mail: gabriella.grotte@alfalaval.com  

Alfa Laval AB (publ)
PO Box 73
SE-221 00 Lund
Sweden 

Corporate registration number: 556587-8054