Alfa Laval AB (publ) Interim report July 1 - September 30, 2020

LUND, Sweden, Oct. 22, 2020 /PRNewswire/ --

Stable demand and unchanged profitability

    --  Demand remained on a stable but low level in the third quarter.
    --  The operating margin was 17.6 percent despite lower volumes. Tangible
        effects from short term cost savings program.
    --  Continued good cash flow resulted in a low net debt.
    --  A public tender offer for all shares in Neles published on July 13. The
        acceptance level condition revised from 2/3 to >50 percent on October
        15.

Summary

Third quarter

Order intake decreased by 9 percent* at SEK 8,935 (10,728) million.
Net sales decreased by 14 percent* to SEK 9,728 (12,056) million.
Adjusted EBITA**: SEK 1,710 (2,141) million.
Adjusted EBITA margin**: 17.6 (17.8) percent.
Result after financial items***: SEK 1,382 (1,907) million.
Net income***: SEK 1,038 (1,447) million.
Earnings per share***: SEK 2.46 (3.43).
Cash flow from operating activities: SEK 1,256 (1,247) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 10 (85) million.
Impact on result after financial items of comparison distortion items: SEK -63 (-5) million.

First nine months

Order intake decreased by 5 percent* to SEK 30,561 (32,966) million.
Net sales decreased by 6 percent* to SEK 30,773 (33,553) million.
Adjusted EBITA**: SEK 5,262 (5,739) million.
Adjusted EBITA margin**: 17.1 (17.1) percent.
Result after financial items***: SEK 4,053 (5,361) million.
Net income***: SEK 3,016 (4,084) million.
Earnings per share***: SEK 7.14 (9.69).
Cash flow from operating activities: SEK 5,059 (2,831) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 160 (275) million.
Impact on result after financial items of comparison distortion items: SEK -63 (191) million.
Return on capital employed (%) **: 21.4 (22.5).
Net debt to EBITDA, times **: 0.49 (1.13).

* Excluding currency effects.
** Alternative performance measures.
*** Prior quarters 2020 have been restated, see page 18.

Outlook for the fourth quarter

"We expect demand in the fourth quarter to be somewhat higher than in the third quarter."
Earlier published outlook (July 21, 2020): "We expect demand in the third quarter to be somewhat lower than in the second quarter."

The Q3 2020 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 22, 2020.

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

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/alfa-laval/r/alfa-laval-ab--publ--interim-report-july-1---september-30--2020,c3220276

The following files are available for download:

     
     https://mb.cision.com/Main/905/3220276/1322080.pdf 
     Release

View original content:http://www.prnewswire.com/news-releases/alfa-laval-ab-publ-interim-report-july-1---september-30-2020-301157686.html

SOURCE Alfa Laval