Alfa Laval AB (publ) Interim report July 1 - September 30, 2022

Rhea-AI Summary

Alfa Laval AB reported strong financial performance for Q3 2022, with order intake rising to SEK 15.2 billion, reflecting a 19% increase and net sales reaching SEK 13.2 billion, an increase of 17%. Adjusted EBITA was SEK 1.93 billion, up 4% with a margin of 14.7%. In the first nine months, order intake rose 17% to SEK 42.9 billion. However, cash flow from operating activities decreased significantly to SEK 1.63 billion from SEK 3.85 billion.

Positive

• Q3 order intake increased by 19% to SEK 15.2 billion.
• Net sales grew by 17% to SEK 13.2 billion.
• Adjusted EBITA rose by 4% to SEK 1,934 million.

Negative

• Adjusted EBITA margin decreased to 14.7% from 18.0%.
• Cash flow from operating activities dropped to SEK 670 million from SEK 1.47 billion.

LUND, Sweden, Oct. 25, 2022 /PRNewswire/ -- 

Continued strong demand

• Order intake of SEK 15.2 billion, corresponding to 13 percent organic growth. Demand remained high across all three divisions.
• Net sales of SEK 13.2 billion, corresponding to 11 percent organic growth. Sales growth was supported by somewhat stabilizing supply chains.
• Adjusted EBITA of SEK 1,934 million, corresponding to a growth of 4 percent and a margin of 14.7 percent.
• A restructuring program launched to adjust capacity imbalances in the Marine and Energy Divisions.

Summary

Third quarter
 
Order intake increased by 19 percent* to SEK 15,202 (11,680) million.
Net sales increased by 17 percent* to SEK 13,184 (10,275) million.  
Adjusted EBITA**: SEK 1,934 (1,854) million.
Adjusted EBITA margin**: 14.7 (18.0) percent.
Result after financial items: SEK 1,581 (1,567) million. 
Net income: SEK 1,225 (1,226) million.                                         
Earnings per share: SEK 2.92 (2.91).
Cash flow from operating activities: SEK 670 (1,469) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 120 (0) million.
Impact on result after financial items of comparison distortion items: SEK - (-) million.

First nine months 

Order intake increased by 17 percent* to SEK 42,878 (34,067) million.
Net sales increased by 13 percent* to SEK 35,651 (29,219) million.  
Adjusted EBITA**: SEK 5,709 (5,122) million.
Adjusted EBITA margin**: 16.0 (17.5) percent.
Result after financial items: SEK 4,417 (4,281) million. 
Net income: SEK 3,309 (3,323) million.                                         
Earnings per share: SEK 7.89 (7.87).
Cash flow from operating activities: SEK 1,629 (3,853) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 250 (-100) million.
Impact on result after financial items of comparison distortion items: SEK -327 (-192) million.
Return on capital employed (%) **: 18.2 (18.3).
Net debt to EBITDA, times **: 1.50 (1.07).

* Excluding currency effects. ** Alternative performance measures.

Outlook for the fourth quarter

"We expect demand in the fourth quarter to be about the same as in the third quarter."

Earlier published outlook (July 20, 2022): "We expect demand in the third quarter to be somewhat lower than in the second quarter." 

The Q3 2022 report has been reviewed by the company's auditors, see page 26 for the review report.

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 7.30 on October 25, 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 

The following files are available for download:

https://mb.cision.com/Main/905/3654010/1642889.pdf

2022 Q3 Quarterly report

 

View original content:https://www.prnewswire.com/news-releases/alfa-laval-ab-publ-interim-report-july-1---september-30-2022-301658055.html

SOURCE Alfa Laval

FAQ

What were Alfa Laval's order intake figures for Q3 2022?

Alfa Laval's order intake for Q3 2022 was SEK 15.2 billion, a 19% increase from the previous year.

How much did Alfa Laval's net sales grow in Q3 2022?

Net sales increased by 17% to SEK 13.2 billion in Q3 2022.

What is the adjusted EBITA for Alfa Laval in Q3 2022?

The adjusted EBITA for Q3 2022 was SEK 1.93 billion, reflecting a growth of 4%.

How did Alfa Laval's cash flow from operating activities change in Q3 2022?

Cash flow from operating activities fell to SEK 670 million in Q3 2022, down from SEK 1.47 billion.

What is the outlook for Alfa Laval in Q4 2022?

Alfa Laval expects demand in Q4 2022 to remain about the same as in Q3 2022.