Alfa Laval AB (publ) Fourth quarter and full year 2011

Alfa Laval AB (publ) Fourth quarter and full year 2011

“Order intake during the fourth quarter was SEK 6.8 billion, an increase with 6
percent compared to the corresponding quarter 2010. Compared to the third
quarter order intake decreased with 15 percent, influenced by a lower demand
from the shipbuilding industry and an awaiting attitude to making decisions
concerning projects by certain customers. Order intake for the aftermarket and
the base business – excluding marine – was unchanged sequentially.
Sales increased by 14 percent to SEK 8.1 billion compared to the fourth quarter
2010 at the same time as the operating result was SEK 1.4 billion, corresponding
to an operating margin of 17.0 percent. The operating margin was influenced by
an adaptation to a lower production pace, higher share of project deliveries and
continued investments in increased presence in BRIC countries.
2011 was a successful year where order intake grew by 20 percent and invoicing
by 16 percent at the same time as the operating result increased 13 percent to
SEK 5.3 billion.”
Lars Renström, President and CEO

Summary: fourth quarter
Order intake increased by 9 percent * to SEK 6,774 (6,379) million.
Net sales increased by 17 percent * to SEK 8,149 (7,169) million.
Adjusted EBITA was SEK 1,387 (1,337) million.
Adjusted EBITA-margin was 17.0 (18.6) percent.
Result after financial items was SEK 1,381 (1,273) million.
Net income was SEK 934 (905) million.                                        
Earnings per share was SEK 2.21 (2.14).
Cash flow from operating activities was SEK 1,291 (1,081) million.
Impact on EBITA of foreign exchange effects: SEK -80 (32) million.
Impact on result after financial items of:
-  Aalborg integration costs was SEK - (-) million
-  restructuring costs/reversals was SEK ‑90 (-) million.
Summary: full year 2011
Order intake increased by 28 percent * to SEK 28,671 (23,869) million.
Net sales increased by 24 percent * to SEK 28,652 (24,720) million.
Adjusted EBITA was SEK 5,287 (4,682) million.
Adjusted EBITA-margin was 18.5 (18.9) percent.
Result after financial items was SEK 4,676 (4,364) million.
Net income was SEK 3,251 (3,116)
million.                                        
Earnings per share was SEK 7.68 (7.34).
Cash flow from operating activities was SEK 3,429 (4,098) million.
Impact on EBITA of foreign exchange effects: SEK ‑468 (356) million.
Impact on result after financial items of:
-  Aalborg integration costs was SEK -80 (-) million
-  restructuring costs/reversals was SEK -90 (80) million.
* excluding exchange rate variations
The Board of Directors will propose a dividend of SEK 3.25 (3.00) per share and
a mandate for repurchase of up to 5 percent of the issued shares to the Annual
General Meeting.
Outlook for the first quarter
"We expect that demand during the first quarter 2012 will be in line with or
somewhat higher than in the fourth quarter."
Earlier published outlook (October 21, 2011): "We expect that demand during the
fourth quarter 2011 will be in line with or somewhat lower than in the third
quarter."
The fourth quarter and full year 2011 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

Alfa Laval AB (publ) discloses the information provided herin pursuant to the
Securities Markets Act and/or the Financial Instruments Trading Act. The
information was submitted for publication at 07.30 a.m. on February 7, 2012