Alfa Laval Ab · OMXSTO:ALFA
Alfa Laval Ab — Q2 2004 Earnings Presentation
23 slides from Alfa Laval Ab's earnings presentation, 2004
Slide 1: Slide 1
Slide 2: Interim Report Q2 2004
Interim Report Q2 2004 Mr. Sigge Haraldsson President and CEO Alfa Laval Group Mr. Thomas Thuresson CFO Alfa Laval Group
Slide 3: Highlights
Highlights Q204 z Order intake: 4,174 MSEK z Net sales: 3,798 MSEK © Alfa Laval Slide 3 www.alfalaval.com
Slide 4: Q on Q vs last year (excl FX): Order intake
Q on Q vs last year (excl FX) Order intake 18% 14% 10% 6% 2% Q3 2003 Q4 2003 Q1 2004 Q2 2004 © Alfa Laval Slide 4 www.alfalaval.com
Slide 5: Highlights
Highlights Q204 z Order intake: 4,174 MSEK z Net sales: 3,798 MSEK z Adjusted EBITA / margin: 420 MSEK / 11.1 % © Alfa Laval Slide 5 www.alfalaval.com
Slide 6: Adjusted EBITA / margin
Adjusted EBITA / margin * MSEK and in percent of sales 700 14,0 600 12,0 500 10,0 400 8,0 300 6,0 200 4,0 100 2,0 0 0,0 Q301 Q401 Q102 Q202 Q302 Q402 Q103 Q203 Q303 Q403 Q104 Q204 * Adjusted EBITA – ”Earnings before interests, taxes, amortization of goodwill and step up values and comparison distort
Slide 7: Adjusted EBITA
Adjusted EBITA MSEK Q2 H1 2003 412 734 2004 420 803 Deviation 8 69 FX. translation 10 30 FX. transaction 65 113 Deviation excl FX 83 212 © Alfa Laval Slide 7 www.alfalaval.com
Slide 8: Highlights
Highlights Q204 z Order intake: 4,174 MSEK z Net sales: 3,798 MSEK z Adjusted EBITA / margin: 420 MSEK / 11.1 % z Profit before tax: 259 MSEK © Alfa Laval Slide 8 www.alfalaval.com
Slide 9: Highlights
Highlights Q204 z Order intake: 4,174 MSEK z Net sales: 3,798 MSEK z Adjusted EBITA / margin: 420 MSEK / 11.1 % z Profit before tax: 259 MSEK H104 z Adjusted EBITA / margin: 803 MSEK / 11.5 % © Alfa Laval Slide 9 www.alfalaval.com
Slide 10: Highlights
Highlights Q204 z Order intake: 4,174 MSEK z Net sales: 3,798 MSEK z Adjusted EBITA / margin: 420 MSEK / 11.1 % z Profit before tax: 259 MSEK H104 z Adjusted EBITA / margin: 803 MSEK / 11.5 % z Profit before tax: 470 MSEK z Cash flow from operating activities: 519 MSEK z ROCE: 22.5 % © Alfa Laval Sl
Slide 11: Highlights
Highlights Q204 z Order intake: 4,174 MSEK z Net sales: 3,798 MSEK z Adjusted EBITA / margin: 420 MSEK / 11.1 % z Profit before tax: 259 MSEK H104 z Adjusted EBITA / margin: 803 MSEK / 11.5 % z Profit before tax: 470 MSEK z Cash flow from operating activities: 519 MSEK z ROCE: 22.5 % z Alfa Laval In
Slide 12: Orders received by Segment
Orders received by Segment + Comfort & Refrigeration Parts & Service + + Marine & Diesel Life Science+ + Fluids & Utility + OEM Process Industry + + Sanitary Energy & Environment + Food + January – June 2004 © Alfa Laval Slide 12 www.alfalaval.com
Slide 13: Orders received by Region
Orders received by Region Other 2 % 3 % L. A No rdi mer c + 1 ica 3% As ia 26 % + + + + Western Europe 31 % % a st 8 % 16 + a ic er + Am E th & or N Ce n tr. January – June 2004 © Alfa Laval Slide 13 www.alfalaval.com
Slide 14: Consolidated Profit and Loss
Consolidated Profit and Loss MSEK H1 2004 H1 2003 Net sales 6,982 6,397 Adjusted EBITA 803 734 Amortization of goodwill and step-up - 245 - 246 Comparison distortion items - 14 4 Financial net - 74 - 137 PBT 470 355 Taxes & minority - 211 - 83 Net income 259 272 © Alfa Laval Slide 14 www.alfalaval.c
Slide 15: Gross profit margin
Gross profit margin In percent of sales 50 39.0 39.2 40 35.8 30 20 Q301 Q401 Q102 Q202 Q302 Q402 Q103 Q203 Q303 Q403 Q104 Q204 © Alfa Laval Slide 15 www.alfalaval.com
Slide 16: Gross profit margin
Gross profit margin In percent of sales, excluding transaction effects Q204 50 39.0 39.2 40 37.5 30 20 Q301 Q401 Q102 Q202 Q302 Q402 Q103 Q203 Q303 Q403 Q104 Q204 © Alfa Laval Slide 16 www.alfalaval.com
Slide 17: Taxes
Taxes MSEK H1 2004 Profit after financial items, MSEK 470 - taxes, 33 % average - 155 Major adjustment items - goodwill, MSEK 121 - 85 - loss making countries, MSEK 136 Other items + 52 Taxes according to P&L - 188 - in % of PBT 40.0 © Alfa Laval Slide 17 www.alfalaval.com
Slide 18: Cash-flow statement
Cash-flow statement MSEK H1 2004 H1 2003 Cash flows from - operating activities 519 650 - investing activities - 43 - 52 Financial net paid - 68 - 147 Dividends - 447 - 223 Total - 39 228 Pro Forma Free-cash-flow* 318 469 *Incl. operating activities, capital expenditure, provisions and financial net
Slide 19: Earnings per share
Earnings per share H1 2004 H1 2003 Earnings 2.32 2.44 Earnings excluding 4.08 4.22 goodwill and step-up © Alfa Laval Slide 19 www.alfalaval.com
Slide 20: Foreign exchange
Foreign exchange Estimated impact on adjusted EBITA from Fx. fluctuations 2004 vs. 2003 MSEK Q2 H1 H2 est* WY est* Translation effect - 10 - 30 - 30 - 60 Transaction effect - 65 - 113 - 127 - 240 Total - 75 - 143 - 157 - 300 *Based on market exchange rates as per June 30, 2004. 1 EUR = 1.23 USD. © A
Slide 21: Calendar
Calendar 2004 z September 7 Capital Markets Day, Copenhagen z October 21 (New date!) Interim Report Q3, 2004 2005 z February 14 Interim Report Q4 and Year end Report, 2004 z April 27 Interim Report Q1, 2005 z April 27 Annual General Meeting, Lund z July 21 Interim Report Q2, 2005 z October 25 Interi
Slide 22: Outlook 2004
Outlook 2004 Alfa Laval is expecting … … a very strong increase in orders received during the full year 2004. … that the EBITA-margin, excluding exchange rate variations, will continue to improve. © Alfa Laval Slide 22 www.alfalaval.com
Slide 23: Slide 23