Alfa Laval Ab · OMXSTO:ALFA
Alfa Laval Ab — Q2 2005 Earnings Presentation
33 slides from Alfa Laval Ab's earnings presentation, 2005
Slide 1: www .alfalaval.com
© Alf a Lav al Slide 1 www .alfalaval.com
Slide 2: Interim Report Q2 2005
Interim Report Q2 2005 - Orders received and margins - Highlights - Development per segment - Geographical development - Financials Mr. Lars Renströ Renström - Outlook President and CEO Alfa Laval Group
Slide 3: Key figures
Key figures April – June 2005 z Orders received up 9% z Net sales up 7% z Adjusted EBITA MSEK 422 (420) - Negative currency effect MSEK 39 January – June 2005 z Orders received up 7% z Net sales up 7% z Adjusted EBITA MSEK 752 (803) - Negative currency effect MSEK 81 © Alf a Lav al Slide 3 www .alfa
Slide 4: Orders received
Orders received % Q on Q SEK million R 12 25 16 000 20 14 000 15 12 000 10 10 000 5 8 000 0 6 000 -5 4 000 Q203 Q303 Q104 Q304 Q402 Q103 Q403 Q204 Q404 Q205 Q302 Q105 = rolling twelwe months value © Alf a Lav al = % development compared withSlide the4same quarter the year before www .alfalaval.com
Slide 5: Order analysis
Order analysis Apr – Jun 05 2004 (SEK million) 4,174 Structural change, % +2 Currency effects,% +1 Organic development, % +7 Total, % +10 2005 (SEK million) 4,574 © Alf a Lav al Slide 5 www .alfalaval.com
Slide 6: Adjusted EBITA / margin
Adjusted EBITA / margin * SEK million 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 Q302 Q402 Q103 Q203 Q303 Q403 Q104 Q204 Q304 Q404 Q105 Q205 * Adjusted EBITA – ”Earnings bef ore interests, taxes, amortization of goodwill an d step up v alues and comparis
Slide 7: Interim Report Q2 2005
Interim Report Q2 2005 - Orders received and margins - Highlights - Development per segment - Geographical development - Financials Mr. Lars Renströ Renström - Outlook President and CEO Alfa Laval Group
Slide 8: Highlights
Highlights April – June 2005 z Currency © Alf a Lav al Slide 8 www .alfalaval.com
Slide 9: Highlights
Highlights April – June 2005 z Currency z Big orders - Central cooling in Saudi Arabia, order value: SEK 100 million - Drinking water project in Pakistan, order value: SEK 100 million © Alf a Lav al Slide 9 www .alfalaval.com
Slide 10: Interim Report Q2 2005
Interim Report Q2 2005 - Orders received and margins - Highlights - Development per segment - Geographical development - Financials Mr. Lars Renströ Renström - Outlook President and CEO Alfa Laval Group
Slide 11: Orders received by Segment
Orders received by Segment April – June 2005, at constant rates = Comfort & Refrigeration Parts & Service + + Marine & Diesel − + Fluids & Utility Life Science + OEM Process Industry + − Sanitary Energy & Environment + Food − © Alf a Lav al Slide 11 www .alfalaval.com
Slide 12: Process Industry
Process Industry The T50 plate heat exchanger Æ Probably the largest gasketed PHE in the world Æ Newly developed plate system for better performance Æ Main application: Central cooling © Alf a Lav al Slide 12 www .alfalaval.com
Slide 13: Orders received by Segment
Orders received by Segment January – June 2005, at constant rates = Comfort & Refrigeration Parts & Service + + Marine & Diesel = Life Science + Fluids & Utility + OEM Process Industry + − Sanitary Energy & Environment + Food − © Alf a Lav al Slide 13 www .alfalaval.com
Slide 14: Interim Report Q2 2005
Interim Report Q2 2005 - Orders received and margins - Highlights - Development per segment - Geographical development - Financials Mr. Lars Renströ Renström - Outlook President and CEO Alfa Laval Group
Slide 15: Orders received by Region
Orders received by Region April – June 2005, at constant rates Ot her 2 % L. A m No r di c1 eric a No +2 3% rt hA 4 me -1 +4 +14 % ri c a 14 +21 % Western Europe 31 % Cent Asia 28 % +5 r. & Ea st 8 % © Alf a Lav al Slide 15 www .alfalaval.com
Slide 16: Highlights Americas
Highlights Americas April – June 2005, at constant rates North America z Continued growth in the US -1 - all segments above 2004 except Sanitary Latin America z Good development in Equipment Division +5 z High growth in Parts & Service © Alf a Lav al Slide 16 www .alfalaval.com
Slide 17: Highlights Europe
Highlights Europe April – June 2005, at constant rates Western Europe incl. Nordic z MidEurope and UK above +2 z Strong Parts & Service +4 +14 Central and Eastern Europe z Generally good demand in Russia z Increase in project orders in Ukraine and Czech Republic z Strong growth for Parts & Service ©
Slide 18: Highlights Asia
Highlights Asia April – June 2005, at constant rates Asia z Very strong order intake in China – in spite of slow project business z High investment level in the Middle East +21 z Good growth in Parts & Service © Alf a Lav al Slide 18 www .alfalaval.com
Slide 19: Orders received by Region
Orders received by Region January – June 2005, at constant rates Ot her 3 % L. A No r di m er c1 -7 ica 2% No 4% rth 0 +5 Am +6 eri ca +15 16 % Western Europe 29 % Cent +36 Asia 28 % r. & Ea st 8 % © Alf a Lav al Slide 19 www .alfalaval.com
Slide 20: Interim Report Q2 2005
Interim Report Q2 2005 - Orders received and margins - Highlights - Development per segment - Geographical development - Financials Mr. Thomas Thuresson - Outlook CFO Alfa Laval Group
Slide 21: Highlights
Highlights SEK million Apr – Jun 05 Order intake 4,574 Net sales 4,101 Adjusted EBITA 422 Adjusted EBITA- EBITA- margin 10.3% © Alf a Lav al Slide 21 www .alfalaval.com
Slide 22: Adjusted EBITA
Adjusted EBITA SEK million Apr – Jun 05 2004 420 2005 422 Deviation 2 FX. translation + 2 FX. transaction - 41 Deviation excl FX 41 © Alf a Lav al Slide 22 www .alfalaval.com
Slide 23: Gross profit margin
Gross profit margin In percent of sales 50 39.2 40 35.8 36.3 30 20 Q302 Q402 Q103 Q203 Q303 Q403 Q104 Q204 Q304 Q404 Q105 Q205 © Alf a Lav al Slide 23 www .alfalaval.com
Slide 24: Gross profit margin
Gross profit margin In percent of sales, excluding FX- FX-transactions Q205 50 39.2 40 35.8 37.3 30 20 Q302 Q402 Q103 Q203 Q303 Q403 Q104 Q204 Q304 Q404 Q105 Q205 © Alf a Lav al Slide 24 www .alfalaval.com
Slide 25: Highlights
Highlights SEK million Apr – Jun 05 Order intake 4,574 Net sales 4,101 Adjusted EBITA 422 Adjusted EBITA- EBITA- margin 10.3% Profit before tax 342 © Alf a Lav al Slide 25 www .alfalaval.com
Slide 26: Taxes
Taxes Jan--Jun Jan SEK million 2005 Profit after financial items, SEK million 418 - taxes, 32% average - 134 Major adjustment items - loss making countries - loss carry forwards + 24 - pre pre--period adjustments Other items + 8 Taxes according to P&L 102 - in % of PBT 24.5 Note: Average tax rate go
Slide 27: Earnings per share
Earnings per share IFRS IFRS Q2 2005 Q2 2004 H1 2005 H1 2004 Earnings 2.17 1.80 2.65 3.18 Earnings excluding 2.60 2.25 3.53 4.08 goodwill and step step--up © Alf a Lav al Slide 27 www .alfalaval.com
Slide 28: Highlights
Highlights SEK million Apr – Jun 05 Order intake 4,574 Net sales 4,101 Adjusted EBITA 422 Adjusted EBITA- EBITA- margin 10.3% Profit before tax 342 Cash flow from operating activities 277 ROCE 20.7% Excl. step- step-up and goodwill approx. 51.5% © Alf a Lav al Slide 28 www .alfalaval.com
Slide 29: Cash-flow statement
Cash-flow statement SEK million H1 2005 H1 2004 Cash flows from - operating activities 294 503 - investing activities -544 - 27 Financial net paid -113 - 68 Dividends -530 -447 Total -894 - 39 Pro Forma Free- Free-cash cash--flow* 62 318 *Incl. operating activities, capital expenditure (excl. produc
Slide 30: Foreign exchange
Foreign exchange Estimated impact on adjusted EBIT A from Fx Fx.. fluctuations SEK million Q2 2005 H1 2005 WY 05* Translation effect + 2 - 7 - 10 Transaction effect - 41 - 74 - 160 Total - 39 - 81 - 170 *Based on EUR/USD 1.21 and EUR/SEK 9.25 © Alf a Lav al Slide 30 www .alfalaval.com
Slide 31: Interim Report Q1 2005
Interim Report Q1 2005 - Orders received and margins - Highlights - Development per segment - Geographical development - Financials Mr. Lars Renströ Renström - Outlook President and CEO Alfa Laval Group
Slide 32: Outlook for the near future
Outlook for the near future Alfa Laval is expecting … …a continued demand on the present high level. …that the current high price level for some raw materials will remain, at least short term. © Alf a Lav al Slide 32 www .alfalaval.com
Slide 33: www .alfalaval.com
© Alf a Lav al Slide 33 www .alfalaval.com