Alfa Laval AB (publ) Fourth quarter and full year 2022

Highlights

•    Order intake of SEK 15.8 billion, corresponding to 16 percent organic growth. Demand remained positive in all three divisions. 
•    Net sales of 16.5 billion, corresponding to 14 percent organic growth. Record high sales was supported by improving supply chains. 
•    Adjusted EBITA of SEK 2,520 million, corresponding to 27 percent growth and a margin of 15.3 percent.
•    Increased CAPEX investments to support future growth, estimated at SEK 2.5-3.0 billion per year.
 

Summary

Fourth quarter 

Order intake increased by 23 percent* at SEK 15,767 (11,651) million.
Net sales increased by 30 percent* to SEK 16,484 (11,692) million.  
Adjusted EBITA**: SEK 2,520 (1,992) million.
Adjusted EBITA margin**: 15.3 (17.0) percent.
Result after financial items: SEK 1,762 (1,861) million. 
Net income: SEK 1,260 (1,478) million.                                         
Earnings per share: SEK 3.00 (3.51).
Cash flow from operating activities: SEK 1,662 (1,411) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 150 (50) million.
Impact on result after financial items of comparison distortion items: SEK -440 (-) million.

Full year

Order intake increased by 18 percent* to SEK 58,645 (45,718) million.
Net sales increased by 18 percent* to SEK 52,135 (40,911) million.  
Adjusted EBITA**: SEK 8,229 (7,114) million.
Adjusted EBITA margin**: 15.8 (17.4) percent.
Result after financial items: SEK 6,179 (6,142) million. 
Net income: SEK 4,569 (4,801) million.                                         
Earnings per share: SEK 10.89 (11.38).
Cash flow from operating activities: SEK 3,291 (5,264) million.
Impact on adjusted EBITA of foreign exchange effects: SEK 400 (-50) million.
Impact on result after financial items of comparison distortion items: SEK -767 (-192) million.
Return on capital employed (%)**: 17.3 (20.0).
Net debt to EBITDA, times**: 1.47 (0.87).

* Excluding currency effects. ** Alternative performance measures.
 
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 25, 2022): “We expect demand in the fourth quarter to be about the same as in the third  quarter.”  

The Board of Directors will propose a dividend of SEK 6.00 (6.00) per share to the Annual General Meeting. 

The Q4 2022 report has been reviewed by the company’s auditors, see page 27 for the review report.

This information is information that Alfa Laval AB (publ) is obliged to make public pursuant to 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 2, 2023.

For more information, please contact:
Johan Lundin, Head of Investor Relations
Phone: +46 46 36 65 10, 
Mobile: +46 730 46 30 90,
E-mail: johan.lundin@alfalaval.com

Alfa Laval AB (publ)
PO Box 73
SE-221 00 Lund
Sweden
Corporate registration number: 556587-8054
Visiting address: 
Rudeboksvägen 1
Phone: + 46 46 36 65 00
Website: www.alfalaval.com