Alfa Laval Slide 1 www.alfalaval.com
Interim Report Q1 2008 - Orders received and margins - Highlights - Development per segment - Geographical development - Financials - Outlook Mr. Lars Renström President and CEO Alfa Laval Group
Key figures January March 2008 Orders received up 9% to SEK 7,433 million. Net sales up 24% to SEK 6,267 million. Adjusted EBITA up 69% SEK 1,410 million. - Negative currency effect SEK 44 million. Alfa Laval Slide 3 www.alfalaval.com
Orders received SEK millions 8 000 7 000 6 000 5 000 4 000 3 000 2 000 SEK millions R 12 32 000 28 000 24 000 20 000 16 000 12 000 8 000 1 000 0 + 5% Q105 + 9% Q205 +25% Q305 +23% Q405 +28% Q106 +35% Q206 +17% Q306 +40% Q406 Q107 +36% Q207 +13% +30% Q307 Q407 0% Q108 +9% 4 000 0 = rolling twelve months value +xx% = % development at constant rates by = order intake per quarter quarter year on year Alfa Laval Slide 4 www.alfalaval.com
Order analysis Jan March 08 2007 (SEK millions) Structural change, % Currency effects,% Organic development, % Total, % 2008 (SEK million) 7,005 + 3-3 + 6 + 6 7,433 Alfa Laval Slide 5 www.alfalaval.com
Adjusted EBITA / margin * SEK millions and in percent of sales 1 800 1 575 1 350 1 125 900 675 450 225 24,0 21,0 18,0 15,0 12,0 9,0 6,0 3,0 0 Q105 Q205 Q305 Q405 Q106 Q206 Q306 Q406 Q107 Q207 Q307 Q407 Q108 0,0 * Adjusted EBITA Earnings before interests, taxes, amortization of goodwill and step up values and comparison distortion items. Alfa Laval Slide 6 www.alfalaval.com
Interim Report Q1 2008 - Orders received and margins - Highlights - Development per segment - Geographical development - Financials - Outlook Mr. Lars Renström President and CEO Alfa Laval Group
Highlights during the quarter Large orders, total SEK 390 million (435) High capacity plate heat exchanger to Middle East. Order value SEK 100 million. Delivery during 2008. Alfa Laval Slide 8 www.alfalaval.com
Highlights during the quarter Large orders High capacity plate heat exchanger to Middle East. Power order from Middle East. Order value SEK 100 million. Delivery during 2008. Alfa Laval Slide 9 www.alfalaval.com
Highlights during the quarter Large orders High capacity plate heat exchanger to Middle East. Power order in Middle East. Wins power order in China. Order value SEK 50 million. Delivery during 2009. Alfa Laval Slide 10 www.alfalaval.com
Highlights during the quarter Large orders High capacity plate heat exchanger to Middle East. Power order in Middle East. Wins power order in China. Refinery order in Middle East. Order value SEK 50 million. Delivery during 2009. Alfa Laval Slide 11 www.alfalaval.com
Highlights during the quarter Large orders High capacity plate heat exchanger to Middle East. Power order in Middle East. Wins power order in China. Refinery order in Middle East. Wins another power order in China. Order value SEK 90 million. Delivery during 2010. Alfa Laval Slide 12 www.alfalaval.com
Interim Report Q1 2008 - Orders received and margins - Highlights - Development per segment - Geographical development - Financials - Outlook Mr. Lars Renström President and CEO Alfa Laval Group
Orders received by Segment January March 2008, at constant rates + Comfort & Refrigeration Parts & Service Life Science Process Industry + + + Marine & Diesel Fluids & Utility OEM Energy & Environment + Sanitary Food + Alfa Laval Slide 14 www.alfalaval.com
Orders received by Segment The Process Technology Division, January March 2008, at constant rates and for comparable units Life Science Process Industry Energy & Environment Food + + Best quarter ever! Both Oil & Gas and the Power business has been very good. Very low activity level in biofuels. Alfa Laval Slide 15 www.alfalaval.com
Orders received by Segment The Equipment Division, January March 2008, at constant rates and for comparable units Continued good growth in both Marine & Diesel and Comfort & Refrigeration OEM on a lower level due to the heat pump industry in Europe + + + Comfort & Refrigeration Marine & Diesel Fluids & Utility OEM Sanitary Alfa Laval Slide 16 www.alfalaval.com
New products +30% Alfa Laval Phoenix - new system for treatment of waste water from offshore installations ions Alfa Laval Slide 17 www.alfalaval.com
Interim Report Q1 2008 - Orders received and margins - Highlights - Development per segment - Geographical development - Financials - Outlook Mr. Lars Renström President and CEO Alfa Laval Group
Orders received by Region January March 2008, at constant rates -18-3 -1 +10 L. America 6 % L. America 6 % North America 14 % Other 2 % Other 2 % +33 Western Europe 24 % Asia 37 % +27 Centr.. & East 8 % Nordic 9 % Alfa Laval Slide 19 www.alfalaval.com
Orders received by Region January March 2008, at constant rates -18-3 -1 +10 L. America 6 % L. America 6 % North America 14 % Other 2 % Other 2 % +33 Western Europe 24 % Asia 37 % +27 Centr.. & East 8 % Nordic 9 % Alfa Laval Slide 20 www.alfalaval.com
Highlights Americas January March 2008, at constant rates North America Good development in Equipment division and Parts & Service Base orders were on the same level as last year. -18 Latin America Good development, especially for the Process Technology division Best growth in Energy & Environment and Process Industry +27 Alfa Laval Slide 21 www.alfalaval.com
Highlights Europe January March 2008, at constant rates Western Europe incl. Nordic Good development in Equipment division and Parts & Service. Base business on the same level as last year. -3-1 +10 Central and Eastern Europe Good overall growth, especially in Energy & Environment and Parts & Service. Very good development in Russia and Turkey. Alfa Laval Slide 22 www.alfalaval.com
Highlights Asia January March 2008, at constant rates Asia Best growth in Middle East, China and India. Energy & Environment and Marine had the strongest development. +33 Alfa Laval Slide 23 www.alfalaval.com
Interim Report Q1 2008 - Orders received and margins - Highlights - Development per segment - Geographical development - Financials - Outlook Mr. Thomas Thuresson CFO Alfa Laval Group
Highlights SEK millions Order intake Net sales Jan Mar 08 7,433 6,267 Alfa Laval Slide 25 www.alfalaval.com
Gross profit margin 50 In percent of sales 40 42.9 37.0 38.9 38.9 30 20 Q105 Q205 Q305 Q405 Q106 Q206 Q306 Q406 Q107 Q207 Q307 Q407 Q108 Alfa Laval Slide 26 www.alfalaval.com
Highlights SEK millions Order intake Net sales Adjusted EBITA Adjusted EBITA-margin Profit before tax Jan Mar 08 7,433 6,267 1,410 22.5% 1,256 Alfa Laval Slide 27 www.alfalaval.com
Earnings per share Jan - Mar 2008 2007 Earnings 8.26 4.11 Earnings, excluding step-up 8.77 4.63 Alfa Laval Slide 28 www.alfalaval.com
Repurchase of shares Mandate to repurchase 10 percent of the issued shares Number of repurchased shares Percentage of outstanding shares Decrease of equity capital* Q1 08 1,084,200 1.0 367 Q2 07 Q1 08 4,686,739 4.2 1,864 Proposed AGM resolutions: Cancellation of 4.3 million shares New mandate to repurchase up to 5% Split = 4 new for 1 old *In parent company and in the Group (SEK millions) Alfa Laval Slide 29 www.alfalaval.com
Highlights SEK millions Order intake Net sales Adjusted EBITA Adjusted EBITA-margin Profit before tax Cash flow from operating activities ROCE ROE Jan Mar 08 7,433 6,267 1,410 22.5% 1,256 729 57.6% 48.0% Alfa Laval Slide 30 www.alfalaval.com
Cash-flow statement SEK millions Cash flows from - operating activities - investing activities Financial net paid Total Q1 2008 729-134 16 611 Q1 2007 550-146 - 32 372 Pro Forma Free-cash cash-flow* 651 464 *Incl. operating activities, capital expenditure (excl. product rights), provisions and financial net paid. Alfa Laval Slide 31 www.alfalaval.com
Foreign exchange Estimated impact on adjusted EBITA from Fx.. fluctuations SEK million Q1 2008 WY 08* WY 09* Translation effect Transaction effect Total - 24-20 - 44-75 - 160-235 - - 225-225 *Based on EUR/USD 1.58 and EUR/SEK 9.35 Alfa Laval Slide 32 www.alfalaval.com
Order backlog as per March 31 SEK millions 18000 16000 14000 13,831 15,543 12000 10000 9,833 5,051 5,725 8000 2,940 6000 4000 2000 0 6,893 8,780 2006 2007 9,818 2008 For delivery next year or later For delivery during rest of current year Alfa Laval Slide 33 www.alfalaval.com
Interim Report Q4 2007 - Orders received and operating margin - Highlights - Development per segment - Geographical development - Financials - Outlook Mr. Lars Renström President and CEO Alfa Laval Group
Outlook for the near future Alfa Laval expects the demand to remain on the current high level. Alfa Laval Slide 35 www.alfalaval.com
Alfa Laval Slide 36 www.alfalaval.com