Alfa Laval (publ) Fourth quarter and full year 2021

Rhea-AI Summary

Alfa Laval reported a record high order intake of SEK 45,718 million for 2021, up 20% year-over-year. The fourth quarter saw a 24% increase in order intake, reaching SEK 11,651 million. Despite supply chain challenges, net sales grew by 9% to SEK 11,692 million. The adjusted EBITA was SEK 1,992 million with a margin of 17.0%. The company proposed a dividend of SEK 6.00 per share, up from SEK 5.50. Outlook for Q1 2022 indicates higher demand.

Positive

• Record order intake of SEK 45,718 million for 2021, up 20%.
• Fourth quarter order intake increased by 24% to SEK 11,651 million.
• Net sales grew by 9% in Q4 to SEK 11,692 million, indicating strong demand.
• Adjusted EBITA in Q4 was SEK 1,992 million, maintaining profitability.
• Proposed dividend increased to SEK 6.00 per share.

Negative

• Net sales for the full year decreased slightly by 3% from SEK 41,468 million to SEK 40,911 million.
• Cash flow from operating activities declined from SEK 7,723 million to SEK 5,264 million.

LUND, Sweden, Feb. 2, 2022 /PRNewswire/ --

Record high order intake 2021

• Demand continued on high level across most end markets and geographies.
• Sustainability solutions remain the main growth driver.
• Strong growth in the service business.
• Net sales developed well with limited impact from challenges in the supply chain.
• Stable profitability despite cost inflation.

Summary

Fourth quarter

Order intake increased by 24 percent* at SEK 11,651 (9,272) million.
Net sales increased by 9 percent* to SEK 11,692 (10,695) million. 
Adjusted EBITA**: SEK 1,992 (1,969) million.
Adjusted EBITA margin**: 17.0 (18.4) percent.
Result after financial items: SEK 1,861 (924) million.
Net income: SEK 1,478 (564) million.                                        
Earnings per share: SEK 3.51 (1.33).
Cash flow from operating activities: SEK 1,411 (2,664) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 50 (20) million.
Impact on result after financial items of comparison distortion items: SEK - (-733) million.

Full year

Order intake increased by 20 percent* to SEK 45,718 (39,833) million.
Net sales increased by 3 percent* to SEK 40,911 (41,468) million. 
Adjusted EBITA**: SEK 7,114 (7,231) million.
Adjusted EBITA margin**: 17.4 (17.4) percent.
Result after financial items: SEK 6,142 (4,977) million.
Net income: SEK 4,801 (3,580) million.                                        
Earnings per share: SEK 11.38 (8.47).
Cash flow from operating activities: SEK 5,264 (7,723) million.
Impact on adjusted EBITA of foreign exchange effects: SEK -50 (180) million.
Impact on result after financial items of comparison distortion items: SEK -192 (-796) million.
Return on capital employed (%)**: 20.0 (19.1).
Net debt to EBITDA, times**: 0.87 (0.48).

* Excluding currency effects. ** Alternative performance measures.

Outlook for the first quarter

"We expect demand in the first quarter to be higher than in the fourth quarter."

Earlier published outlook (October 26, 2021): "We expect demand in the fourth quarter to be about the same as in the third quarter."

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 Q4 2021 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 Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at CET 7.30 on February 2, 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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Alfa Laval bokslutskommunike 2021_eng_220202

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SOURCE Alfa Laval

FAQ

What was Alfa Laval's order intake for the fourth quarter of 2021?

Alfa Laval's order intake for Q4 2021 increased by 24% to SEK 11,651 million.

How did Alfa Laval's net sales perform in 2021?

Net sales for Alfa Laval in 2021 were SEK 40,911 million, a decrease of 3% from the previous year.

What is the proposed dividend per share for 2022 by Alfa Laval?

Alfa Laval proposed a dividend of SEK 6.00 per share for 2022.

What is the outlook for demand in the first quarter of 2022 from Alfa Laval?

Alfa Laval expects demand in Q1 2022 to be higher than in Q4 2021.

What was the adjusted EBITA margin for Alfa Laval in the fourth quarter of 2021?

The adjusted EBITA margin for Q4 2021 was 17.0%.