Alfa Laval Ab · OMXSTO:ALFA
Alfa Laval Ab — Alfa Laval Corporate — Q3 2025 Earnings Presentation
19 slides from Alfa Laval Ab's earnings presentation, Oct 28, 2025
Slide 1: Report for Q3 2025
1 Report for Q3 2025 Tom Erixon President and CEO Q3 2025 28 October 2025 Classified by Alfa Laval as: Business Classified by Alfa Laval as: Business
Slide 2: Key figures
Key figures 2 SEK million Q3 2025 Q3 2024 Tot ∆ Org ∆* Q2 2025 Order intake 16,555 18,927 -13% -10% 16,299 Net sales 17,244 16,208 6% 8% 16,819 Adjusted EBITA 3,180 2,800 14% 3,001 Adjusted EBITA-margin 18.4% 17.3% 17.8% Q3 2025 Classified by Alfa Laval as: Business
Slide 3: Energy Division
Energy Division 3 Highlights and comments, SEK million Q3 25 Q3 24 Tot ∆ Org ∆* Q2 25 ORDERS 5,415 5,042 7.4% -0.1% 4,589 SALES 5,026 4,611 9.0% 1.7% 4,601 Markets and order intake Adj EBITA 832 964 796 • Recovery in HVAC and heat pumps. Adj EBITA (%) 16.6% 20.9% 17.3% • Strong development for Clean
Slide 4: Food & Water Division
Food & Water 4 Division Highlights and comments, SEK million Q3 25 Q3 24 Tot ∆ Org ∆* Q2 25 ORDERS 5,796 5,739 1.0% 6.3% 6,436 SALES 6,483 6,342 2.2% 8.1% 6,162 Markets and order intake Adj EBITA 1,043 995 904 • Strong quarter for the transactional business and Service. Adj EBITA (%) 16.1% 15.7% 14.
Slide 5: Marine Division
Marine Division 5 Highlights and comments, SEK million Q3 25 Q3 24 Tot ∆ Org ∆* Q2 25 ORDERS 5,344 8,146 -34.4% -29.7% 5,274 SALES 5,735 5,255 9.1% 14.0% 6,056 Markets and order intake Adj EBITA 1,349 989 1,448 • Demand was sequentially stable on a good level. Adj EBITA (%) 23.5% 18.8% 23.9% • Posit
Slide 6: Service orders, Q3
Service orders, Q3 6 40%* Order intake, SEK million Marine 7 000 25 000 6 000 20 000 5 000 15 000 31%* 4 000 Food & Water 10 000 3 000 5 000 2 000 1 000 0 2021 2022 2023 2024 2025 23%* Order intake per quarter Rolling twelwe months value Energy Q3 2025 *% of total order Classified by Alfa Laval as:
Slide 7: Top ten markets
Top ten markets* 7 SEK million China United States Korea, South Nordic South East Asia Adriatic Mid Europe Japan Brazil India 0 2 000 4 000 6 000 8 000 10 000 12 000 14 000 16 000 18 000 *Top ten markets order intake development. LTM FY 2024 Q3 2025 Classified by Alfa Laval as: Business
Slide 8: Financials Q3 2025
8 Financials Q3 2025 Fredrik Ekström, CFO Q3 2025 28 October 2025 Classified by Alfa Laval as: Business
Slide 9: Orders received
Orders received 9 Q3 2025 SEK million • Order intake of 16,555 MSEK (18,927) 21 000 80 000 • -12.5% growth 70 000 • -10.4% organic growth 18 000 • 3.3% structure 60 000 15 000 • -5.5% currency 50 000 12 000 40 000 YTD 2025 9 000 30 000 • Order intake of 49,661 MSEK 6 000 (56,116) 20 000 • -11.5% gro
Slide 10: Order book as per 30 September
Order book as per 10 30 September SEK billion Q3 2025 • Order book of 50.9 BSEK • 16.3 BSEK for delivery 2025 60 • 34.5 BSEK for delivery 2026 or 50 later • -2% decrease YoY 40 • Order book corresponds to 30 8.9 months of sales • Q3 book-to-bill of 0.96 20 10 0 2021 2022 2023 2024 2025 For delivery
Slide 11: Sales
Sales 11 Q3 2025 SEK million • Sales of 17,244 MSEK (16,208) • 6.4% growth 20 000 80 000 • 8.2% organic growth 18 000 70 000 • 3.9% structure 60 000 16 000 • -5.7% currency 50 000 14 000 40 000 YTD 2025 12 000 30 000 • Sales of 50,528 MSEK (48,643) 10 000 20 000 • 3.9% growth 8 000 10 000 • 6.7% org
Slide 12: Key figures
Key figures 12 SEK million Q3 2025 Q3 2024 YTD 2025 Sales 17,244 16,208 50,528 Gross profit 6,357 5,842 18,734 Sales & Admin -2,657 -2,500 -7,958 R&D -427 -418 -1,255 Net other cost/income -277 -258 -802 Operating income 3,011 2,674 8,692 Financial net -44 -145 -359 Profit before tax 2,967 2,529 8,3
Slide 13: Profitability
Profitability 13 SEK million Margin % Q3 2025 3 500 19,0 • Adj EBITA of 3,180 MSEK (2,800) • Margin of 18.4% (17.3%) 3 000 17,0 • Organic sales growth and mix supported profit and margin 2 500 • Good PPV contribution and stable 15,0 manufacturing result 2 000 • Negative FX impact of -178 MSEK 13,0 1
Slide 14: Debt position
Debt position 14 SEK million Maturity profile and liquidity buffer • Loans maturing 2025-2031: 18,566 MSEK • Average funding rate on our debt is 2.26% per annum Q3 2025 Q3 2024 9 000 Liquidity buffer Debt maturity 8 000 Debt 18,593 10,477 7 000 Debt/EBITDA LTM 1,33 0.83 6 000 Cash & cash equivalents
Slide 15: Cash-flow statement
Cash-flow 15 statement SEK million Q3 2025 Q3 2024 YTD 2025 EBITDA 3,864 3,269 10,960 Working Capital -1,107 1,061 -3,200 Taxes paid -551 -406 -1,990 Cash flow from operating activities 2,206 3,924 5,770 Capital expenditures -545 -704 -1,855 Free cash flow 1,661 3,220 3,915 Divestments 30 - 36 Acqui
Slide 16: Guidance
Guidance 16 Q4 2025 FY 2026 CAPEX Estimated ~0.7 BSEK Estimated 2.5 - 3.0 BSEK PPA amortization ~175 MSEK ~580 MSEK Tax rate 24–26% 24–26% Q3 2025 Classified by Alfa Laval as: Business
Slide 17: Outlook for the fourth quarter
17 Outlook for the fourth quarter: “We expect demand in the fourth quarter to be on about the same level as in the third quarter.” Q3 2025
Slide 18: Q&A Financial calendar 2025
18 Q&A Financial calendar 2025 Interim report Q4 3 February 2026 Capital Markets Day 24 November 2025 Q3 2025 Classified by Alfa Laval as: Business
Slide 19: Cautionary statement
Cautionary 19 statement This presentation contains forward-looking statements that are based on the current expectations of the management of Alfa Laval Group. Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, no assu