LUND, Sweden--Regulatory News:
“The order intake was 9.4 billion – a sequential upturn with 8.5 percent, mainly explained by an exceptionally strong order intake for marine pumping systems, driven by the ship owners’ advanced orders. This advancement is expected to influence the first quarter negatively concerning the demand for pumping systems with about 1.2 billion. The other marine business is expected to be unchanged.
Process Technology’s order intake decreased somewhat sequentially, while it was unchanged for the Equipment division. Within Marine & Diesel the order intake increased for both capital sales and the aftermarket.
Also Asia benefitted from the strong development for the pumping systems. However, excluding pumping systems the order intake in the region was unchanged and in China it decreased somewhat due to a non-recurring large food order. The U.S. had a positive development for both large projects and the base business.
The full year 2015 was a successful year from several aspects. Sales and operating result increased with 13 and 16 percent respectively to new record levels. Earnings per share rose by 30 percent. At the same time a strong cash flow contributed to lowering the net debt to EBITDA to slightly more than 1.5.”
Lars Renström, President and CEO
Summary: fourth quarter
Order intake decreased by 11 percent* to SEK 9,422 (10,509) million.
Net sales decreased by 2 percent* to SEK 10,805 (10,775) million.
Adjusted EBITA was SEK 1,751 (1,938) million.
Adjusted EBITA margin was 16.2 (18.0) percent.
Result after financial items was SEK 1,390 (1,175) million.
Net income was SEK 935 (911) million.
Earnings per share was SEK 2.22 (2.15).
Cash flow from operating activities was SEK 1,875 (1,690) million.
Impact on EBITA of foreign exchange effects was SEK 80 (97) million.
Impact on result after financial items of comparison distortion items was SEK - (-) million.
Summary: full year 2015
Order intake decreased by 5 percent* to SEK 37,098 (36,660) million.
Net sales increased by 7 percent* to SEK 39,746 (35,067) million.
Adjusted EBITA was SEK 6,811 (5,891) million.
Adjusted EBITA margin was 17.1 (16.8) percent.
Result after financial items was SEK 5,444 (4,117) million.
Net income was SEK 3,861 (2,968) million.
Earnings per share was SEK 9.15 (7.02).
Cash flow from operating activities was SEK 5,850 (5,123) million.
Impact on EBITA of foreign exchange effects was SEK 450 (70) million.
Impact on result after financial items of comparison distortion items was SEK - (-320) million.
* Excluding currency effects.
Outlook for the first quarter
“We expect that demand during the first quarter 2016 will be somewhat lower than in the fourth quarter, excluding a substantially lower demand for pumping systems.” Earlier published outlook (October 27, 2015): “We expect that demand during the fourth quarter 2015 will be in line with or somewhat higher than in the third quarter.”
In addition it can be noted that Tom Erixon will replace Lars Renström as President and Chief Executive Officer of Alfa Laval AB (publ) as per March 1, 2016.
The Board of Directors will propose a dividend of SEK 4.25 (4.00) per share to the Annual General Meeting.
The fourth quarter and full year 2015 report has been reviewed by the company’s auditors, see page 25 for the review report.
Alfa Laval AB (publ) discloses the information provided herin pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 07.30 a.m. on February 2, 2016.
This information was brought to you by Cision http://news.cision.com