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Alfa Laval AB (publ) Interim Report July 1 - September 30, 2017

LUND, Sweden, Oct. 25, 2017 /PRNewswire/ -- "The order intake in the third quarter increased by 15 percent compared to the same quarter last year. The development was particularly strong in the Marine Division, primarily driven by a good order intake for environmental applications and an improved contracting for tankers at the ship yards. Geographically, the most positive development was seen in Asia and North America. Compared to the previous quarter, the order intake decreased as expected, mainly due to fewer bookings of large orders, fewer projects within Food & Water and a normal seasonality for HVAC applications.

The adjusted EBITA margin improved in the quarter and amounted to 16 percent. The impact from the lower invoicing in the Marine Division was compensated by clear margin reinforcements in the Energy Division and the Food & Water Division. The unit called Greenhouse was affected by a factory closing in the U.S. Excluding these one-time costs the result in Greenhouse was stable compared to the previous quarter.

The change programme had a continued positive effect in the quarter. The part that relates to changes in the manufacturing structure continued according to plan.

Operations had a good productivity development in the quarter. Previous capacity adaptations, combined with an increased production pace impacted the gross margin positively. Selective investments to increase the production capacity are carried through in light of the increased order intake that has been seen during the year."

Tom Erixon, President and CEO

Summary: third quarter

Order intake increased by 15 percent* to SEK 8,418 (7,540) million.
Net sales decreased by 2 percent* to SEK 8,169 (8,581) million.
Adjusted EBITA**: SEK 1,310 (1,339) million.
Adjusted EBITA margin**: 16.0 (15.6) percent.
Result after financial items: SEK 1,012 (93) million.
Net income: SEK 672 (-106) million.
Earnings per share: SEK 1.59 (-0.27).
Cash flow from operating activities:
SEK1,044 (911) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 19 (107) million.
Impact on result after financial items of comparison distortion items: SEK - (-1,100) million.

Summary: first nine months

Order intake increased by 12 percent* to SEK 26,848 (23,351) million.
Net sales decreased by 4 percent* to SEK 25,202 (25,730) million.
Adjusted EBITA**: SEK 3,999 (4,065) million.
Adjusted EBITA margin**: 15.9 (15.8) percent.
Result after financial items: SEK 3,013 (2,448) million.
Net income: SEK 1,927 (1,696) million.
Earnings per share: SEK 4.57 (4.00).
Cash flow from operating activities:
SEK2,890 (3,054) million
Impact on adjusted EBITA of foreign exchange effects: SEK190 (337)million
Impact on result after financial items of comparison distortion items: SEK- (-1,100) million

* Excluding currency effects.
** Alternative performance measures, see page 23.

Outlook for the fourth quarter:

"We expect that demand during the fourth quarter 2017 will be somewhat higher than in the third quarter."

Earlier published outlook (July 17, 2017): "We expect that demand during the third quarter 2017 will be lower than in the second quarter."

The interim report has been reviewed by the company's auditors, see page 24 for the review report.

For more information, please contact:
Peter Torstensson
Senior Vice President, Communications
Phone: +46-46-36-72-31
Mobile: +46-709-33-72-31
peter.torstensson@alfalaval.com

Gabriella Grotte
Investor Relations Manager
Phone: +46-46-36-74-82
Mobile: +46-709-78-74-82
gabriella.grotte@alfalaval.com

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

This information is information that Alfa Laval AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and 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 October 25, 2017. This information was brought to you by Cision http://news.cision.com

http://news.cision.com/alfa-laval/r/alfa-laval-ab--publ--interim-report-july-1---september-30--2017,c2374830

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SOURCE Alfa Laval