Alfa Laval Ab · OMXSTO:ALFA
Alfa Laval Ab — Alfa Laval Corporate — Q3 2024 Earnings Presentation
20 slides from Alfa Laval Ab's earnings presentation, Oct 24, 2024
Slide 1: Report for Q3 2024
Report for Q3 2024 Tom Erixon President and CEO Q3 2024 Alfa Laval
Slide 2: Key figures
Key figures SEK million Q3 2024 Q3 2023 Tot ∆ Organic ∆* Q2 2024 Order intake 18,927 17,032 11 % 15 % 18,916 Net sales 16,208 15,768 3% 6% 17,530 Adjusted EBITA 2,800 2,626 7% 2,932 Adjusted EBITA- 17.3 % 16.7 % 16.7 % margin *) Organic growth i.e. excluding currency effects and structural changes.
Slide 3: Energy division
Energy division Q3 24 Q3 23 Tot ∆, % Org ∆, % Q2 24 Highlights and comments, SEK million ORDERS 5,042 4,902 2.9 6.2 4,771 SALES 4,611 4,967 -7.2 -4.3 4,891 Adj EBITA 964 1,075 935 Markets and order intake Adj EBITA (%) 20.9 21.6 19.1 • Good demand for energy efficiency and the clean tech portfolio.
Slide 4: Food & Water division
Food & Water division ORDERS Q3 24 5,739 Q3 23 6,365 Tot ∆, % -9.8 Org ∆, % -7.2 Q2 24 6,273 6,342 6,086 4.2 7.1 7,023 Highlights and comments, SEK million SALES Adj EBITA 995 942 1,077 Adj EBITA (%) 15.7 15.5 15.3 Markets and order intake • Demand continued to improve in the transactional business
Slide 5: Marine division
Marine division Q3 24 Q3 23 Tot ∆, % Org ∆, % Q2 24 Highlights and comments, SEK million ORDERS 8,146 5,765 41.3 46.9 7,872 SALES 5,255 4,715 11.5 15.3 5,616 Adj EBITA 989 712 1,031 Markets and order intake Adj EBITA (%) 18.8 15.1 18.4 • Ship contracting remained on a high level. • Demand was suppor
Slide 6: Service orders, Q3
Service orders, Q3 Order intake, SEK million 26% Marine 6 000 25 000 5 000 20 000 28% 4 000 15 000 Food & Water 3 000 10 000 2 000 5 000 1 000 0 2020 2021 2022 2023 2024 26% Order intake per quarter Rolling twelve months value Energy Q3 2024
Slide 7: Top ten markets
Top ten markets* SEK million China United States Nordic South East Asia 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 *Top ten markets order intake development 2023. LTM FY 2023 Q3 2024
Slide 8: Financials Q3 2024
Financials Q3 2024 Fredrik Ekström, CFO Alfa Laval
Slide 9: Orders received
Orders received SEK million 21 000 70 000 Q3 2024 18 000 60 000 • Order intake of 18,927 MSEK (17,032) 15 000 50 000 • 11.1% growth 12 000 • 14.9% organic growth 40 000 • 0.1% structure 9 000 30 000 • -3.9% currency 6 000 20 000 3 000 10 000 YTD 2024 • Order intake of 56,116 MSEK (53,822) 0 0 • Grow
Slide 10: Order backlog as per September 30
Order backlog as per September 30 SEK billion Q3 2024 • Order backlog of 52 BSEK 50 • 15 BSEK for delivery 2024 40 • 37 BSEK for delivery 2025 or later 30 • 12% increase YoY • Backlog corresponds to 20 9.1 months of sales • Q3 book-to-bill of 1.17 10 0 2020 2021 2022 2023 2024 For delivery during Fo
Slide 11: Sales
Sales SEK million 18 000 80 000 Q3 2024 70 000 16 000 • Sales of 16,208 MSEK (15,768) 60 000 14 000 • 2.8% growth 50 000 • 6.0% organic growth 12 000 40 000 • 0.1% structure 30 000 • -3.2% currency 10 000 20 000 8 000 YTD 2024 10 000 • Sales of 48,643 MSEK (45,759) 6 000 0 • Growth of 6.3% 2020 2021
Slide 12: Key figures
Key figures SEK million Q3 2024 Q3 2023 Sales 16,208 15,768 Gross profit 5,842 5,233 Sales & Admin -2,500 -2,260 R&D -418 -374 Net other cost/income -258 -235 Operating income 2,674 2,379 Financial net -145 -34 Profit before tax 2,529 2,345 Taxes -546 -564 EPS 4.77 4.29 Q3 2024
Slide 13: Adjusted EBITA margin
Adjusted EBITA margin* SEK million and in percent of sales SEK million Margin % Q3 2024 Organic Currency Structure Q3 2023 3 000 19,0 Sales 16,208 940 -506 5 15 768 2 500 17,0 Sales growth % 2,8% 6,0% -3,2% 0,0% 2 000 15,0 Adj EBITA 2,800 245 -68 -2 2,626 1 500 13,0 Adj EBITA % 17.3% 16.7% 1 000 11,
Slide 14: Cash-flow statement
Cash-flow statement SEK million Q3 2024 Q3 2023 YTD 2024 YTD 2023 EBITDA 3,217 3,006 9,331 8,541 Working Capital 934 429 328 -1,622 Taxes paid -406 -503 -1,533 -1,641 Cash flow from operating activities 3,745 2,932 8,126 5,278 Capital expenditures -704 -527 -2,263 -1,516 Free cash flow 3,041 2,405 5
Slide 15: Debt position
Debt position SEK million Maturity profile and liquidity buffer • Loans maturing 2024-2029: 10,307 MSEK • Average funding rate on our debt is 2.21% per annum Net debt Q3 2024 Q3 2023 9 000 Liquidity buffer Debt 10,477 15,452 8 000 Debt/EBITDA LTM 0.83 1.42 7 000 Cash & cash equivalents -5,542 -5,104
Slide 16: Guidance
Guidance Q4 2024 FY 2024 FY 2025 CAPEX Estimated 0.4 - 0.6 BSEK Estimated 2.5-2.8 BSEK Estimated 2.5 – 3.0 BSEK (cash) Estimated transaction and Estimated transaction and Currency impact translation impact of translation impact of on EBITA* 0 MSEK 235 MSEK PPA amortization ~700 MSEK ~500 MSEK Tax ra
Slide 17: Outlook for the fourth quarter
Outlook for the fourth quarter: “We expect demand in the fourth quarter to be on a lower level compared to the third quarter.” Q3 2024
Slide 18: Q&A and Financial calendar 2024
Q&A Financial calendar 2024 Interim report Q4 2024 5 February 2025 Capital Markets Day 2024 21 November 2024 Q3 2024
Slide 19: www.alfalaval.com
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