Alfa Laval Ab · OMXSTO:ALFA
Alfa Laval Ab — Q1 2022 Earnings Presentation
24 slides from Alfa Laval Ab's earnings presentation, Apr 26, 2022
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 2022
Tom Erixon Report for Q1 2022 President and CEO Alfa Laval Group 26/04/2022 | © Alfa Laval 2 | www.alfalaval.com Classified by Alfa Laval as: Business
Slide 3: Key figures
Key figures − MSEK Q1 2022 Q1 2021 Tot ∆, Organic ∆, % %* Order intake 13,255 10,204 30 20 Net sales 10,615 8,969 18 10 Adjusted EBITA 1,816 1,530 19 Adjusted EBITA-margin (%) 17.1 17.1 *) Organic growth i.e. excluding currency effects and structural changes. 26/04/2022 | © Alfa Laval 3 | www.alfala
Slide 4: Food & Water division
Food & Water division − Highlights and comments, MSEK MARKETS & ORDER INTAKE Q1 22 Q1 21 Tot ∆, Org ∆, Q4 21 % % • Record high order intake. ORDERS 5,652 3,730 51.5 40.6 4,139 • Demand remained strong across all geographies and most end-markets. SALES 3,742 3,116 20.1 12.1 4,388 • Invoicing impacted
Slide 5: Desmet – A strong combination
Desmet − Purchasing agreement signed in March 2022 • A strong combination • A world leader in the growing areas of biofuel processing, alternative 2021 sales Employees proteins and vegetable oils 300 MEUR 1,000 globally • Strong combined technological leadership, market position and global presence
Slide 6: Energy division
Energy division − Highlights and comments, MSEK MARKETS & ORDER INTAKE Q1 22 Q1 21 Tot ∆, Org ∆, Q4 21 % % • Record order intake for HVAC and Refrigeration related to ongoing energy efficiency initiatives. ORDERS 3,808 3,101 22.8 16.1 3,362 • Improved demand in gas production and distribution. SALES
Slide 7: Marine division
Marine division − Highlights and comments, MSEK MARKETS & ORDER INTAKE Q1 22 Q1 21 Tot ∆, Org ∆, Q4 21 % % • Order growth despite cancelations related to Russian sanctions. ORDERS 3,795 3,373 12.5 1.7 4,150 • High demand for environmental solutions, driven SALES 3,664 3,295 11.2 0.7 3,748 by ballast
Slide 8: Service, by division
Service, by division − Order intake Q1 2022, share and development ENERGY FOOD & WATER MARINE Q1’22: 27% Q1’22: 24% Q1’22: 42% Organic growth Organic growth Organic growth + + + YoY YoY YoY = Service share of total order intake 26/04/2022 | © Alfa Laval 8 | www.alfalaval.com Classified by Alfa Laval
Slide 9: Orders received
Orders received SEK million SEK million R 12 14 000 49 000 12 000 42 000 10 000 35 000 8 000 28 000 6 000 21 000 +14% +30% +22% -14% -3% 4 000 14 000 2 000 7 000 0 0 Q118 Q218 Q318 Q418 Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121 Q221 Q321 Q421 Q122 = Order intake per quarter “large” = Rolling twel
Slide 10: Orders received by region
Orders received by region − Development Q1 2022 vs Q1 2021, at fixed rates 2%; +45% Africa & Oceania 8%; Nordic +5% 23%; +54% North America +19% 4%; +11% Latin America 21%; Western Europe -1% 5%; Central- & Eastern +23% Europe 37%; Asia Share %: Jan – Mar 2022 vs Q1-21 26/04/2022 | © Alfa Laval 10 |
Slide 11: Report for Q1 2022
Report for Q1 2022 Jan Allde CFO Alfa Laval Group | © Alfa Laval | www.alfalaval.com Classified by Alfa Laval as: Business
Slide 12: Sales
Sales − MSEK SEK million SEK million R 12 14 000 49 000 10,615 12 000 42 000 10 000 35 000 8 000 28 000 6 000 21 000 +15% +18% -15% +9% +4% 4 000 14 000 2 000 7 000 0 0 Q1 18 Q2 18 Q3 18 Q4 18 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 = Sales per quarter = Rolling
Slide 13: Adjusted gross margin
Adjusted gross margin − In percent of sales 45 Q1 2021 38.2 Mix/price - 40 39.1 Load/volume + 38.0 37.6 38.2 PPV/metals + FX - 35 Structure + Q1 2022 39.1 30 Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121 Q221 Q321 Q421 Q122 26/04/2022 | © Alfa Laval 13 | www.alfalaval.com Classified by Alfa Laval as:
Slide 14: S&A Expense development
S&A Expense development − MSEK Q1 2022 Q1 2021 Tot ∆, % Sales costs 1,222 1,019 19.9% Admin costs 579 436 32.8% Total S&A costs 1,801 1,455 23.8% Excl. FX impact and 11.3% acq./divestments 26/04/2022 | © Alfa Laval 14 | www.alfalaval.com Classified by Alfa Laval as: Business
Slide 15: Adjusted EBITA/margin
Adjusted EBITA/margin* − SEK millions and in percent of sales SEK million Percent of sales 2 500 20,0 2 250 19,0 17.1 17.1 2 000 18,0 17.0 16.5 1 750 17,0 1 500 16,0 1 250 15,0 1 000 14,0 750 13,0 500 12,0 250 11,0 0 10,0 Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121 Q221 Q321 Q421 Q122 * Adjusted EB
Slide 16: Key figures
Key figures − MSEK Q1 2022 Q1 2021 Sales 10,615 8,969 Gross profit 3,932 3,223 Sales & Admin -1,802 -1,455 R&D -318 -271 Net other cost/income -554 -177 Operating income 1,275 1,340 Financial net -15 143 Profit before tax 1,260 1,483 Taxes -328 -371 EPS 2.22 2.64 26/04/2022 | © Alfa Laval 16 | www.a
Slide 17: Cash-flow statement
Cash-flow statement − MSEK Q1 2022 Q1 2021 EBITDA 2,185 1,798 Working Capital -937 -43 Taxes paid -481 -792 Cash flow from operating activities 767 963 Capital expenditures -274 -266 Disposals 5 25 Acquisitions -4 -13 Cash flow from investing activities -273 -254 Financial net paid -70 90 Cash flow
Slide 18: Foreign exchange
Foreign exchange − Estimated impact on adjusted EBITA from FX fluctuations, MSEK Q1 2022 FY 2022 FY 2023* Transaction effect -40 -115 -125 Translation effect 80 215 - Total 40 100 -125 Note: Excludes FX effects caused by revaluation of balance items in foreign currency *) Based on EUR/USD 1,1375 and
Slide 19: Order backlog as per March 31
Order backlog as per March 31 − SEK billion 26.6 25 22.9 19,3 9.4 20 7.4 4.7 15 17.3 10 14.5 15.5 5 0 1,14 1.22 1.14 1.00 1.25 book to bill Q118 Q218 Q318 Q418 Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121 Q221 Q321 Q421 Q122 = For delivery during current year = For delivery next year or later 26/04/
Slide 20: Sales FY 2022
Sales − FY 2022, SEK billion Q1 2022 10.6 Backlog for delivery in 2022 17.3 Subtotal 27.9 For you to consider: Price “In-for-out”* FX translation Acquisitions FY 2022 *IFO in Q2-Q4 2021 was SEK 17.4 bn. 26/04/2022 | © Alfa Laval 20 | www.alfalaval.com Classified by Alfa Laval as: Business
Slide 21: Outlook for the second quarter
Outlook for the second quarter: “We expect demand in the second quarter to be somewhat lower compared to the first quarter.” 26/04/2022 | © Alfa Laval 21 | www.alfalaval.com Classified by Alfa Laval as: Business
Slide 22: www.alfalaval.com Classified by Alfa Laval as: Business
www.alfalaval.com Classified by Alfa Laval as: Business
Slide 23: 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
Slide 24: www.alfalaval.com Classified by Alfa Laval as: Business
www.alfalaval.com Classified by Alfa Laval as: Business