Financiële Ratio's Alfa Laval AB
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.”
