Alfa Laval AB (publ) Interim report January 1 - March 31, 2023

Rhea-AI Summary

Alfa Laval reported strong results for Q1 2023, with order intake reaching SEK 18.4 billion, reflecting a 25% organic growth. The net sales also showed notable performance, increasing to SEK 14.1 billion for a 15% organic growth, driven by easing supply chain issues. The adjusted EBITA surged 31% to SEK 2,387 million, representing a margin of 16.9%. Net income was reported at SEK 1,515 million, with earnings per share of SEK 3.64. However, the company expects demand to be sequentially lower in the next quarter. The Board proposed a dividend of SEK 6.00 per share for the Annual General Meeting.

Positive

• Order intake increased by 32% to SEK 18,385 million.
• Net sales rose by 25% to SEK 14,111 million.
• Adjusted EBITA grew by 31% to SEK 2,387 million with a margin of 16.9%.
• Net income increased to SEK 1,515 million.
• Earnings per share improved to SEK 3.64.
• Cash flow from operating activities reached SEK 1,004 million.

Negative

• Adjusted EBITA margin slightly decreased from 17.1% to 16.9%.
• Net debt to EBITDA ratio increased from 0.79 to 1.32.
• Demand expected to be sequentially lower in the next quarter.

LUND, Sweden, April 25, 2023 /PRNewswire/ -- 

Highlights

•   Order intake of SEK 18.4 billion, corresponding to 25 percent organic growth.
High demand in Energy and Marine. 
•   Net sales of SEK 14.1 billion, corresponding to 15 percent organic growth. Sales growth continued as supply chain disruptions ease.
•   Adjusted EBITA of SEK 2,387 million, corresponding to 31 percent growth and a margin of 16.9 percent.

Summary

First quarter 
Order intake increased by 32 percent* to SEK 18,385 (13,255) million.
Net sales increased by 25 percent* to SEK 14,111 (10,615) million.  
Adjusted EBITA**: SEK 2,387 (1,816) million.
Adjusted EBITA margin**: 16.9 (17.1) percent.
Result after financial items: SEK 2,048 (1,260) million. 
Net income: SEK 1,515 (932) million.                                        
Earnings per share: SEK 3.64 (2.22).
Cash flow from operating activities: SEK 1,004 (767) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 145 (40) million.
Impact on result after financial items of comparison distortion items: SEK - (-327) million.
Return on capital employed (%) **: 18.5 (18.8).
Net debt to EBITDA, times **: 1.32 (0.79).

* Excluding currency effects. ** Alternative performance measures. 
 
Outlook for the second quarter
 
"Market conditions are expected to remain positive, although demand is expected to be sequentially lower in the next quarter." 
 
Earlier published outlook (February 2, 2023): "We expect demand in the first quarter to be about the same as in the fourth quarter."  

Dividend 

The Board of Directors will propose a dividend of SEK 6.00 (6.00) per share to the Annual General Meeting. 

The Q1 2023 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. The information was submitted for publication, through the agency of the contact person set out below, at CET 13.00 on April 25, 2023.

For more information, please contact:
Johan Lundin, Head of Investor Relations
Phone: +46 46 36 65 10, 
Mobile: +46 730 46 30 90,
E-mail: : johan.lundin@alfalaval.com

Alfa Laval AB (publ)
PO Box 73
SE-221 00 Lund
Sweden
Corporate registration number: 556587-8054

Visiting address: 
Rudeboksvägen 1
Phone: + 46 46 36 65 00
Website: www.alfalaval.com 

The following files are available for download:

https://mb.cision.com/Main/905/3757534/2009197.pdf

2023 Q1 Quarterly report

 

View original content:https://www.prnewswire.com/news-releases/alfa-laval-ab-publ-interim-report-january-1---march-31-2023-301806703.html

SOURCE Alfa Laval

FAQ

What were Alfa Laval's Q1 2023 order intake figures?

Alfa Laval reported an order intake of SEK 18.4 billion for Q1 2023, reflecting a 25% organic growth.

How much did Alfa Laval's net sales grow in Q1 2023?

Net sales for Alfa Laval increased by 15% to SEK 14.1 billion in Q1 2023.

What was the adjusted EBITA for Alfa Laval in Q1 2023?

Alfa Laval's adjusted EBITA for Q1 2023 was SEK 2,387 million, representing a 31% growth.

What dividend has Alfa Laval proposed for shareholders?

Alfa Laval proposed a dividend of SEK 6.00 per share to be voted on at the Annual General Meeting.

What are the expectations for demand in the next quarter for Alfa Laval?

Alfa Laval expects demand to be sequentially lower in the next quarter.