European Markets : Stocks Performance per Sector 2015 YTD

Atlas Copco Group FY 2015 Return on Assets higher to 18.7 (2014 : 16.2)

Financiële Ratio's Atlas Copco Group

Source : EuropeanMarkets

Summary of nine-month results

Orders received in the first nine months of 2015 increased by 10% to MSEK 76 394 (69 498), corresponding to a 3% organic decline. Structural changes added 2%, and the currency effect was +11%. Revenues were MSEK 76 579 (68 361), corresponding to a 2% organic decline.

Operating profit was MSEK 14 904 (12 244). The operating margin was 19.5% (17.9). The positive impact of changes in exchange rates was to MSEK 2 680.
Profit before tax was MSEK 14 179 (11 655), corresponding to a margin of 18.5% (17.0). Profit for the period totaled MSEK 10 693 (8 840). Basic and diluted earnings per share were SEK 8.78 (7.27) and 8.72 (7.27) respectively.

Operating cash flow before acquisitions, divestments and dividends totaled MSEK 11 600 (9 040).

Near-term demand outlook

The overall demand for the Group is expected to remain at current level.

Source : Atlas Copco Group Third-quarter report 2015, Stockholm (Sweden) 20 October 2015

Alfa Laval AB FY 2015 Return on Assets higher to 10.9 (2014 : 8.4)

Financiële Ratio's Alfa Laval AB

Source : EuropeanMarkets

Comment from Lars Renström, President and CEO

“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 mid- stream 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.”

Financial highlights first nine months of 2015

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.”

Source : Press Release Alfa Laval AB, Lund (Sweden) 27 October 2015