Alfa Laval AB (publ) Fourth quarter and Full Year 2019

News provided by

Alfa Laval

Feb 04, 2020, 02:03 ET

LUND, Sweden, Feb. 4, 2020 /PRNewswire/ --

Record strong sales and profit in Q4

Invoicing and operating income reached new record levels, with strong performance in all divisions.
Order intake continued on a high level and increased somewhat compared to previous quarter.
Most end markets grew compared to last year.
Strong service growth - 10 percent organic order growth.
Cash flow from operating activities improved with SEK 900 million.

Summary

Fourth quarter

Order intake decreased by 6 percent* to SEK 11,153 (11,561) million.

Net sales increased by 12 percent* to SEK 12,964 (11,209) million.

Adjusted EBITA**: SEK 2,250 (1,787) million.

Adjusted EBITA margin**: 17.4 (15.9) percent.

Result after financial items: SEK 1,860 (1,470) million.

Net income: SEK 1,424 (1,297) million.

Earnings per share: SEK 3.39 (3.07).

Cash flow from operating activities: SEK 2,392 (1,490) million.

Impact on adjusted EBITA of foreign exchange effects: SEK 155 (-90) million.

Impact on result after financial items of comparison distortion items: SEK -2 (14) million.

Full year

Order intake decreased by 6 percent* to SEK 44,119 (45,005) million.

Net sales increased by 10 percent* to SEK 46,517 (40,666) million.

Adjusted EBITA**: SEK 7,989 (6,718) million.

Adjusted EBITA margin**: 17.2 (16.5) percent.

Result after financial items: SEK 7,221 (5,896) million.

Net income: SEK 5,508 (4,537) million.

Earnings per share: SEK 13.08 (10.77).

Cash flow from operating activities: SEK 5,223 (4,883) million.

Impact on adjusted EBITA of foreign exchange effects: SEK 430 (-85) million.

Impact on result after financial items of comparison distortion items: SEK 189 (151) million.

Return on capital employed (%) **: 23.0 (22.4).

Net debt to EBITDA, times **/***: 0.88 (0.93).

Excluding currency effects. Alternative performance measures.

Net debt to EBITDA for full year 2019 excluding IFRS 16 impact: 0.60.

Outlook for the first quarter

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

Earlier published outlook (October 24, 2019): "We expect demand in the fourth quarter to be somewhat higher than in the third quarter."

The Board of Directors will propose a dividend of SEK 5.50 (5.00) per share to the Annual General Meeting.

The Q4 2019 report has been reviewed by the company's auditors, see page 25 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 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 February 4, 2020.

For more information, please contact:
Peter Torstensson
Senior Vice President, Communications
Phone: +46-46-36-72-31
Mobile: +46-709-33-72-31
[email protected]

Joel Davidsson
Interim Investor Relations Manager
Phone: +46-46-36-77-72
Mobile: +46-730-35-46-03
E-mail: [email protected]

Alfa Laval AB (publ)
PO Box 73
SE-221 00 Lund
Sweden

Corporate registration number: 556587-8054

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Release

SOURCE Alfa Laval