Alfa Laval Ab · OMXSTO:ALFA
Alfa Laval Ab — Alfa Laval Corporate — Q2 2025 Earnings Presentation
19 slides from Alfa Laval Ab's earnings presentation, Jul 22, 2025
Slide 1: Report for Q2 2025
1 Report for Q2 2025 Tom Erixon President and CEO Q2 2025 21 July 2025 Classified by Alfa Laval as: Business Classified by Alfa Laval as: Business
Slide 2: Key figures
Key figures 2 SEK million Q2 2025 Q2 2024 Tot ∆ Org ∆* Q1 2025 Order intake 16,299 18,916 -14% -8% 16,807 Net sales 16,819 17,530 -4% 2% 16,465 Adjusted EBITA 3,001 2,932 2% 2,916 Adjusted EBITA-margin 17.8% 16.7% 17.7% Q2 2025 Classified by Alfa Laval as: Business
Slide 3: Energy Division
Energy Division 3 Highlights and comments, SEK million Q2 25 Q2 24 Tot ∆ Org ∆* Q1 25 ORDERS 4,589 4,771 -3.8% 1.7% 4,903 SALES 4,601 4,891 -5.9% 1.2% 4,786 Markets and order intake Adj EBITA 796 935 861 • Visible recovery in HVAC and heat pumps. Adj EBITA (%) 17.3% 19.1% 18.0% • Good demand in data
Slide 4: Food & Water Division
Food & Water 4 Division Highlights and comments, SEK million Q2 25 Q2 24 Tot ∆ Org ∆* Q1 25 ORDERS 6,436 6,273 2.6% 9.7% 6,315 SALES 6,162 7,023 -12.3% -6.3% 5,905 Markets and order intake Adj EBITA 904 1,077 894 • Record quarter for the transactional business and Service. Adj EBITA (%) 14.7% 15.3%
Slide 5: Marine Division
Marine Division 5 Highlights and comments, SEK million Q2 25 Q2 24 Tot ∆ Org ∆* Q1 25 ORDERS 5,274 7,872 -33.0% -27.4% 5,589 SALES 6,056 5,616 7.8% 13.9% 5,775 Markets and order intake • Demand was sequentially stable on a good level. Adj EBITA 1,448 1,031 1,259 • Positive demand for all product gro
Slide 6: Service orders, Q2
Service orders, Q2 6 39%* Order intake, SEK million Marine 7 000 25 000 6 000 20 000 5 000 15 000 29%* 4 000 Food & Water 10 000 3 000 5 000 2 000 1 000 0 2021 2022 2023 2024 2025 28%* Order intake per quarter Rolling twelwe months value Energy Q2 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 Q2 2025 Classified by Alfa Laval as: Business
Slide 8: Financials Q2 2025
8 Financials Q2 2025 Fredrik Ekström, CFO Q2 2025 21 July 2025 Classified by Alfa Laval as: Business
Slide 9: Orders received
Orders received 9 Q2 2025 SEK million • Order intake of 16,299 MSEK (18,916) 21 000 80 000 • -13.8% growth 70 000 • -7.8% organic growth 18 000 • 0.1% structure 60 000 15 000 • -6.2% currency 50 000 12 000 40 000 YTD 2025 9 000 30 000 • Order intake of 33,106 MSEK 6 000 (37,189) 20 000 • -11.0% grow
Slide 10: Order book as per June 30
Order book as per 10 June 30 SEK billion Q2 2025 • Order book of 50.3 BSEK • 25.6 BSEK for delivery 2025 60 • 24.7 BSEK for delivery 2026 or 50 later • 2% increase YoY 40 • Order book corresponds to 30 8.8 months of sales • Q1 book-to-bill of 0.97 20 10 0 2021 2022 2023 2024 2025 For delivery during
Slide 11: Sales
Sales 11 Q2 2025 SEK million • Sales of 16,819 MSEK (17,530) • -4.1% growth 20 000 80 000 • 2.3% organic growth 18 000 70 000 • 0.2% structure 60 000 16 000 • -6.5% currency 50 000 14 000 40 000 YTD 2025 12 000 30 000 • Sales of 33,284 MSEK (32,435) 10 000 20 000 • 2.6% growth 8 000 10 000 • 6.0% or
Slide 12: Key figures
Key figures 12 SEK million Q2 2025 Q2 2024 YTD 2025 Sales 16,819 17,530 33,284 Gross profit 6,320 5,857 12,377 Sales & Admin -2,696 -2,592 -5,300 R&D -401 -411 -828 Net other cost/income -309 -113 -525 Operating income 2,881 2,742 5,681 Financial net -172 -352 -315 Profit before tax 2,709 2,390 5,36
Slide 13: Profitability
Profitability 13 SEK million Margin % Q2 2025 3 000 19,0 • Adj EBITA of 3,001 MSEK (2,932) • Margin of 17.8% (16.7%) 2 500 17,0 • Organic sales growth and mix supported profit and margin • Good PPV contribution and stable 2 000 15,0 manufacturing result • Negative FX impact of -184 MSEK 1 500 13,0 1
Slide 14: Cash-flow statement
Cash-flow 14 statement SEK million Q2 2025 Q2 2024 YTD 2025 EBITDA 3,495 3,340 7,096 Working Capital -711 48 -2,093 Taxes paid -625 -633 -1,439 Cash flow from operating activities 2,159 2,755 3,564 Capital expenditures -676 -741 -1,310 Free cash flow 1,483 2,014 2,254 Divestments 2 96 6 Acquisitions
Slide 15: Debt position
Debt position 15 SEK million Maturity profile and liquidity buffer • Loans maturing 2025-2031: 14,221 MSEK • Average funding rate on our debt is 2.22% per annum Q2 2025 Q2 2024 12 000 Liquidity buffer Debt 14,283 11,762 10 000 Debt/EBITDA LTM 1,06 0.94 8 000 Cash & cash equivalents -9,638 -4,044 and
Slide 16: Guidance
Guidance 16 Q3 2025 FY 2025 CAPEX Estimated ~0.7 BSEK Estimated 2.5 - 3.0 BSEK (cash) PPA amortization (excl. Fives ~125 MSEK ~490 MSEK Cryogenics) Tax rate 24–26% 24–26% Q2 2025 Classified by Alfa Laval as: Business
Slide 17: Outlook for the third quarter
17 Outlook for the third quarter: “We expect demand in the third quarter to be somewhat higher compared to the second quarter.” Q2 2025
Slide 18: Q&A Financial calendar 2025
18 Q&A Financial calendar 2025 Interim report Q3 Interim report Q4 28 October, 2025 3 February, 2026 Capital Markets Day 24 November, 2025 Q2 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