Alfa Laval: quarterly results in line with expectations

(CercleFinance.com) - Swedish engineering group Alfa Laval shares were pretty flat on Tuesday morning in Stockholm, after the group presented quarterly results that were largely in line with expectations.


The share price of the heat exchange, separation and fluid transfer specialist advanced by around 0.7% in the wake of the publication, while the European sector index advanced by 1.1%.

Adjusted Ebitda rose 23% to 2.9bn SEK in Q2, just above the consensus of around 2.8bn SEK.

Sales rose 11% in organic terms to 17.5bn SEK, compared with the 17.3bn SEK expected by analysts.

A closely watched indicator, order intake for Alfa Laval, whose products are used in the energy, environment, food and marine industries, rose by 4% to 18.9bn SEK, again on an organic basis.

In detail, the 11% decline in orders in the energy sector was more than offset by a sharp increase in marine contracts (+30%).

The company states that it expects demand in Q3 to be slightly less than in Q2, an unsurprising forecast given the unfavourable seasonality of the summer months.


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