Alfa Laval AB (publ) Interim report January 1 - March 31, 2022
Alfa Laval AB reported a record high order intake of SEK 13,255 million in Q1 2022, marking a 22% increase year-over-year. Net sales also rose by 12% to SEK 10,615 million despite supply chain disruptions. The company maintained stable profitability with an adjusted EBITA of SEK 1,816 million and an EBITA margin of 17.1%. However, net income declined to SEK 932 million from 1,112 million in the previous year. A dividend of SEK 6.00 per share is proposed. The order backlog of SEK 602 million was cancelled due to sanctions against Russia.
- Record high order intake of SEK 13,255 million, a 22% increase year-over-year.
- Net sales increased by 12% to SEK 10,615 million.
- Adjusted EBITA of SEK 1,816 million with stable EBITA margin of 17.1%.
- Proposal to increase the dividend to SEK 6.00 per share.
- Net income declined to SEK 932 million from 1,112 million year-over-year.
- Q1 cash flow from operating activities dropped to SEK 767 million from 963 million.
- Order backlog of SEK 602 million cancelled due to sanctions against Russia.
LUND, Sweden, April 26, 2022 /PRNewswire/ --
Record high order intake
- The global demand remained strong in most end markets and geographies.
- Net sales grew despite impact from supply chain disruptions.
- Stable profitability, volume increase compensated for cost inflation.
- Order backlog of SEK 602 million relating to the sanctions against Russia cancelled during the quarter.
- Agreement signed to acquire Desmet, a world leader in vegetable oil and biofuels.
Summary
First quarter
Order intake increased by 22 percent* to SEK 13,255 (10,204) million.
Net sales increased by 12 percent* to SEK 10,615 (8,969) million.
Adjusted EBITA**: SEK 1,816 (1,530) million.
Adjusted EBITA margin**: 17.1 (17.1) percent.
Result after financial items: SEK 1,260 (1,483) million.
Net income: SEK 932 (1,112) million.
Earnings per share: SEK 2.22 (2.64).
Cash flow from operating activities: SEK 767 (963) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 80 (-70) million.
Impact on result after financial items of comparison distortion items: SEK -327 (12) million.
Return on capital employed (%) **: 18.8 (18.8).
Net debt to EBITDA, times **: 0.79 (0.43).
* Excluding currency effects.
** Alternative performance measures.
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 2, 2022): "We expect demand in the first quarter to be higher than in the fourth quarter."
Dividend
The Board of Directors will propose a dividend of SEK 6.00 (5.50) per share and a mandate for repurchase of up to 5 percent of the issued shares to the Annual General Meeting.
The Q1 2022 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 26, 2022.
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
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SOURCE Alfa Laval
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