Alfa Laval Ab · OMXSTO:ALFA
Alfa Laval Ab — Alfa Laval Corporate — Q1 2023 Earnings Presentation
20 slides from Alfa Laval Ab's earnings presentation, Apr 25, 2023
Slide 1: www.alfalaval.com Classified by Alfa Laval as: Business
www.alfalaval.com Classified by Alfa Laval as: Business
Slide 2: Report for Q1 2023
Tom Erixon Report for Q1 2023 President and CEO Alfa Laval Group 25/04/2023 | © Alfa Laval 2 | www.alfalaval.com Classified by Alfa Laval as: Business
Slide 3: Key figures
Key figures − SEK million Q1 2023 Q1 2022 Tot ∆, Organic ∆, % %* Order intake 18,385 13,255 39 25 Net sales 14,111 10,615 33 15 Adjusted EBITA 2,387 1,816 31 Adjusted EBITA-margin (%) 16.9 17.1 *) Organic growth i.e. excluding currency effects and structural changes. 25/04/2023 | © Alfa Laval 3 | ww
Slide 4: Food & Water division
Food & Water division − Highlights and comments, SEK million MARKETS & ORDER INTAKE Q1 23 Q1 22 Tot ∆, Org ∆, Q4 22 % % • Organic order intake decreased compared to a record Q1 last year. ORDERS 5,776 5,652 2.2 -20.5 5,613 • China remained on a low level. SALES 5,722 3,742 52.9 16.4 7,407 • Supply c
Slide 5: Energy division
Energy division − Highlights and comments, SEK million MARKETS & ORDER INTAKE Q1 23 Q1 22 Tot ∆, Org ∆, Q4 22 % % • Continued strong order intake across all customer segments. ORDERS 5,437 3,808 42.8 34.5 4,407 • Growth mainly driven by continued investments in SALES 4,196 3,209 30.8 22.6 4,500 ener
Slide 6: Marine division
Marine division − Highlights and comments, SEK million MARKETS & ORDER INTAKE Q1 23 Q1 22 Tot ∆, Org ∆, Q4 22 % % • Record high order intake with growth in most product areas. ORDERS 7,172 3,795 89.0 81.6 5,747 • Very strong order intake for cargo pumping systems. SALES 4,193 3,664 14.4 6.6 4,577 •
Slide 7: Service orders
Energy, Q1 Food&Water, Q1 Marine, Q1 Service orders 25% of orders 29% of 27% of orders orders − Order intake, SEK million SEK million SEK million 6 000 20 000 18 000 5 000 16 000 14 000 4 000 12 000 3 000 10 000 8 000 2 000 6 000 4 000 1 000 2 000 - - Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20
Slide 8: Orders received by region
Orders received by region − at fixed rates 1%; +57% Africa & Oceania 9%; Nordic 17%; -8% North America +17% +32% 4%; +64% Latin America 19%; Western Europe +9% 6%; Central- & Eastern +25% Europe* 44%; Asia Share %: Jan – Mar 2023 vs Q1 2022 25/04/2023 | © Alfa Laval *) Excluding Russia. 8 | www.alfa
Slide 9: Top ten markets
Top ten markets* − SEK million at prevailing rates United States China Nordic Korea, South South East Asia Mid Europe Adriatic Japan India France 0 2000 4000 6000 8000 10000 12000 = LTM = FY 2022 *Top ten markets order intake development 2022. 25/04/2023 | © Alfa Laval 9 | www.alfalaval.com Classifi
Slide 10: Financials
Financials Fredrik Ekström CFO Alfa Laval Group | © Alfa Laval | www.alfalaval.com
Slide 11: Orders received
Orders received − SEK million SEK million SEK million 21,000 70,000 18,000 60,000 15,000 50,000 12,000 40,000 +39% 9,000 30,000 6,000 20,000 3,000 10,000 0 0 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 = Order intake per quarter “large” = Rol
Slide 12: Key figures
Key figures − SEK million Q1 2023 Q1 2022 Sales 14,111 10,615 Gross profit 4,865 3,932 Sales & Admin -2,179 -1,801 R&D -359 -318 Net other cost/income -194 -554 Operating income 2,146 1,275 Financial net -98 -15 Profit before tax 2,048 1,260 Taxes -533 -328 EPS 3.64 2.22 25/04/2023 | © Alfa Laval 12
Slide 13: Sales
Sales − SEK million SEK million SEK million, LTM 60,000 16,000 50,000 Q1 2023 14,000 40,000 • Sales of 14,111 MSEK (10,615) 12,000 • 33% growth 30,000 • 15% organic growth 10,000 20,000 • 10% structure 8,000 • 8% currency 10,000 • Improving supply chains 6,000 0 Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q4
Slide 14: Adjusted EBITA margin
Adjusted EBITA margin* − SEK million and in percent of sales SEK million Margin, % 20.0 2,500 19.0 Q1 Organic Currency Structure Q1 2022 18.0 2023 Sales 14,111 1,583 852 1,062 10,615 17.0 2,000 Growth,% 32.9% 14.9% 8.0% 10.0% 16.0 EBITA 2,387 335 145 91 1,816 15.0 1,500 EBITA, % 16.9% 17.1% 14.0 Dil
Slide 15: Cash-flow statement
Cash-flow statement − SEK million Q1 2023 Q1 2022 EBITDA 2,752 2,185 Working Capital -1,312 -937 Taxes paid -436 -481 Cash flow from operating activities 1,004 767 Capital expenditures -440 -274 Disposals 1 5 Acquisitions -86 -4 Cash flow from investing activities -525 -273 Financing activities -686
Slide 16: Order backlog as per March 31
Order backlog as per March 31 − SEK billion SEK billion 45 40 35 Q1 2023 30 • Order backlog of 42.2 BSEK 25 • 24.8 BSEK for delivery 2023 20 • 17.3 BSEK for delivery 2024 or later 15 • 59% increase YoY 10 • Current backlog corresponding to 5.3 5 months 0 • Q4 book-to-bill of 1.30 Q119 Q219 Q319 Q419
Slide 17: Guidance
Guidance Q2 2023 FY 2023 FY 2024 CAPEX (cash) Around similar level as Estimated 2.5 – 3.0 BSEK Estimated 2.5 – 3.0 BSEK previous quarter Currency impact on Estimated transaction and Estimated transaction and Estimated transaction and EBITA* translation impact of translation impact of translation imp
Slide 18: Outlook for the second quarter
Outlook for the second quarter: “Market conditions are expected to remain positive, although demand is expected to be sequentially lower in the next quarter”. 25/04/2023 | © Alfa Laval 18 | www.alfalaval.com Classified by Alfa Laval as: Business
Slide 19: www.alfalaval.com Classified by Alfa Laval as: Business
www.alfalaval.com Classified by Alfa Laval as: Business
Slide 20: Cautionary statement
Cautionary 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 assura