Alfa Laval Ab · OMXSTO:ALFA
Alfa Laval Ab — Alfa Laval Corporate — Q4 2024 Earnings Presentation
21 slides from Alfa Laval Ab's earnings presentation, Feb 5, 2025
Slide 1: Report for Q4 2024
1 Report for Q4 2024 Tom Erixon President and CEO 05 February 2025 Classified by Alfa Laval as: Business Classified by Alfa Laval as: Business
Slide 2: Key figures
Key figures 2 SEK million Q4 2024 Q4 2023 Tot ∆ Org ∆* Q3 2024 Order intake 18,476 16,920 9% 8% 18,927 Net sales 18,311 17,839 3% 8% 16,208 Adjusted EBITA 2,922 2,830 3% 2,800 Adjusted EBITA-margin 16.0 % 15.9 % 17.3 % *Growth excluding effects from currency and structure Classified by Alfa Laval as
Slide 3: Energy division
Energy division Highlights and comments, SEK million Q4 24 Q4 23 Tot ∆ Org ∆* Q3 24 ORDERS 5,054 4,662 8.4% 7.3% 5,042 SALES 5,186 5,196 -0.2% -0.6% 4,611 Markets and order intake Adj EBITA 923 900 964 • Order growth driven by broad-based solid demand. Adj EBITA (%) 17.8% 17.3% 20.9% • Strong develo
Slide 4: Food & Water division
Food & Water division Highlights and comments, SEK million Q4 24 Q4 23 Tot ∆ Org ∆* Q3 24 ORDERS 6,478 7,286 -11.1% -11.9% 5,739 SALES 7,114 7,060 0.8% -0.5% 6,342 Markets and order intake Adj EBITA 1,008 1,011 995 • Growth continued in the transactional business and in China. Adj EBITA (%) 14.2% 14
Slide 5: Marine division
Marine division Highlights and comments, SEK million Q4 24 Q4 23 Tot ∆ Org ∆* Q3 24 ORDERS 6,944 4,972 39.7% 39.0% 8,146 SALES 6,010 5,583 7.6% 7.8% 5,255 Markets and order intake 989 Adj EBITA 1,104 1,003 • Ship contracting remained on a high level with favourable Adj EBITA (%) 18.4% 18.0% 18.8% ve
Slide 6: NRG Marine
NRG Marine Company • 15 years old • 30 employees • 700 installations on commercial vessels Technology • Ultrasonic anti-fouling for Marine, Oil & Gas and industrial applications • Effective against bio-fouling, scaling and other deposits Rationale • Strong demand for anti-fouling solutions • Good fi
Slide 7: Service orders, Q4
Service orders, Q4 7 26% Order intake, SEK million Marine 6 000 25 000 5 000 20 000 4 000 15 000 28% Food & Water 3 000 10 000 2 000 5 000 1 000 0 2020 2021 2022 2023 2024 26% Order intake per quarter Rolling twelwe months value Energy Classified by Alfa Laval as: Business
Slide 8: Top ten markets
Top ten markets* 8 SEK million China United States Nordic South East… Korea, South Adriatic Mid Europe India Japan Benelux 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. FY 2024 FY 2023 Classified by Alfa Laval as: Business
Slide 9: Financials Q4 2024
9 Financials Q4 2024 Fredrik Ekström, CFO 05 February 2025 Classified by Alfa Laval as: Business
Slide 10: Orders received
Orders received 10 Q4 2024 • Order intake of 18,476 MSEK (16,920) SEK million • 9.2% growth • 8.4% organic growth 21 000 80 000 • 0.0% structure 70 000 • 0.8% currency 18 000 60 000 15 000 FY 2024 50 000 12 000 • Order intake of 74,592 MSEK (70,742) 40 000 • 5.4% growth 9 000 30 000 • 6.7% organic g
Slide 11: Order book as per December 31
Order book as per 11 December 31 SEK billion Q4 2024 • Order book of 52.3 BSEK • 39.2 BSEK for delivery 2025 60 • 13.1 BSEK for delivery 2026 or 50 later • 15% increase YoY 40 • Order book corresponds to 30 9.4 months of sales • Q4 book-to-bill of 1.01 20 10 0 2020 2021 2022 2023 2024 For delivery d
Slide 12: Sales
Sales 12 Q4 2024 • Sales of 18,311 MSEK (17,839) SEK million • 2.6% growth • 2.0% organic growth 20 000 80 000 • 0.0% structure 18 000 70 000 • 0.6% currency 60 000 16 000 50 000 FY 2024 14 000 40 000 • Sales of 66,954 MSEK (63,598) 12 000 • Growth of 5.3% 30 000 10 000 • 6.3% organic growth 20 000
Slide 13: Key figures
Key figures 13 SEK million Q4 2024 Q4 2023 Sales 18,311 17,839 Gross profit 6,299 5,642 Sales & Admin -2,733 -2,441 R&D -433 -413 Net other cost/income -321 -198 Operating income 2,822 2,595 Financial net 6 -341 Profit before tax 2,828 2,254 Taxes -767 -684 EPS 4.96 3.77 Classified by Alfa Laval as:
Slide 14: Key figures
Key figures 14 SEK million FY 2024 FY 2023 Sales 66,954 63,598 Gross profit 23,207 20,884 Sales & Admin -10,284 -9,222 R&D -1,656 -1,563 Net other cost/income -865 -895 Operating income 10,435 9,256 Financial net -440 -606 Profit before tax 9,996 8,650 Taxes -2,564 -2,269 EPS 17.88 15.31 Classified
Slide 15: Profitability
Profitability 15 Q4 2024 SEK million Margin % • Adj EBITA of 2,922 MSEK (2,830) • Margin of 16.0% (15.9%) 3 000 19,0 • Normal seasonality due to invoicing mix • Sales growth compensated for one-off costs 2 500 17,0 • Limited impacted from structure and FX 2 000 15,0 FY 2024 • Adj EBITA of 11,089 MSE
Slide 16: Cash-flow statement
Cash-flow 16 statement SEK million Q4 2024 Q4 2023 FY 2024 FY 2023 EBITDA 3,599 2,820 12,931 11,361 Working Capital 1,259 1,363 1,587 -259 Taxes paid -826 -292 -2,359 -1,933 Cash flow from operating activities 4,032 3,891 12,159 9,169 Capital expenditures -1,073 -924 -3,336 -2,440 Free cash flow 2,9
Slide 17: Debt position
Debt position 17 SEK million Maturity profile and liquidity buffer • Loans maturing 2024-2029: 10,176 MSEK • Average funding rate on our debt is 2.02% per annum Q4 2024 Q4 2023 9 000 Liquidity buffer 8 000 Debt 10,274 13,273 7 000 Debt/EBITDA LTM 0,80 1.13 6 000 Cash & cash equivalents -7,818 -5,863
Slide 18: Guidance
Guidance 18 Q1 2025 FY 2025 CAPEX Estimated 0.8 BSEK Estimated 2.5 - 3.0 BSEK (cash) Currency impact Estimated transaction and translation Estimated transaction and translation on EBITA impact of 65 MSEK impact of 265 MSEK PPA amortization ~110 MSEK ~450 MSEK Tax rate 24–26% 24–26% Proposed dividend
Slide 19: Outlook for the first quarter
Outlook for the first quarter: “We expect demand in the first quarter to be on about the same level compared to the fourth quarter.”
Slide 20: Q&A, Financial calendar 2025
20 Q&A Financial calendar 2025 Interim report Q1 Interim report Q2 Interim report Q3 Interim report Q4 29 April, 2025 22 July, 2025 28 October, 2025 3 February, 2026 Capital Markets Day 26 November, 2025 Q4 2024 Classified by Alfa Laval as: Business
Slide 21: 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