Report for Q1 2014 - Alfa Laval ... Service 21%* Marine pumping 50%* Submerged cargo pump Cargo...

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Transcript of Report for Q1 2014 - Alfa Laval ... Service 21%* Marine pumping 50%* Submerged cargo pump Cargo...

  • Report for Q1 2014

    Mr. Lars Renström President and CEO Alfa Laval Group

    - Key figures

    - Orders received and margins

    - Highlights

    - Development per segment

    - Geographical development

    - Financials

    - Outlook

  • www.alfalaval.com© Alfa Laval Slide 3

    Key figures

    � Orders received rose 5% to SEK 7,474 million.

    � Net sales increased 1% to SEK 6,597 million.

    � Adjusted EBITA unchanged at SEK 1,062 million.

    � Adjusted EBITA margin 16.1% vs 16.4%

    - Negative currency effect SEK 10 million.

    January – March 2014

  • Report for Q1 2014 - Key figures

    - Orders received and margins

    - Highlights

    - Development per segment

    - Geographical development

    - Financials

    - Outlook

  • www.alfalaval.com

    0

    4 000

    8 000

    12 000

    16 000

    20 000

    24 000

    28 000

    32 000

    0

    1 000

    2 000

    3 000

    4 000

    5 000

    6 000

    7 000

    8 000

    9 000

    = Order intake per quarter

    = Order intake per quarter “large”

    SEK million

    Orders received

    SEK million R 12

    = Rolling twelve months value

    Q 2

    1 3

    Q 4

    1 0

    Q 1 1 1

    Q 3

    1 1

    Q 1 1

    2

    Q 2

    1 2

    Q 3

    1 2

    = % development at constant rates by

    quarter, year on year +XX%

    Q 4

    1 2

    Q 1 1

    3

    Q 3

    1 3

    Q 4

    1 3

    Q 1 1

    4

    Q 1 1

    0

    Q 2

    1 0

    Q 3

    1 0

    Q 2

    1 1

    + 5

    %

    Q 4

    1 1

    -5 %

    + 2

    1 %

    + 3

    8 %

    -6 %

  • www.alfalaval.com© Alfa Laval Slide 6

    Order analysis

    Q1 2013 Q4 2013

    Structural change, %

    Organic development, %

    Total

    Currency effects,%

    7,130

    Q1 2014 versus Q1 2013 and versus Q4 2013 (MSEK)

    7,474

    + 1.2

    + 3.8

    + 5.0

    - 0.2

    8,133

    7,474

    -

    - 8.1

    - 8.1

    -

    Total, %

    Q1 2014 Q1 2014

    - 8,1+ 4.8

  • www.alfalaval.com© Alfa Laval Slide 7

    0,0

    3,0

    6,0

    9,0

    12,0

    15,0

    18,0

    21,0

    24,0

    0

    225

    450

    675

    900

    1 125

    1 350

    1 575

    1 800

    SEK millions and in percent of sales

    * Adjusted EBITA – ”Earnings before interests, taxes, amortization of goodwill and step up values and comparison distortion items.”

    Adjusted EBITA / margin*

    Q211 Q212 Q113 Q213 Q313 Q413 Q114Q111 Q311 Q411 Q112 Q312 Q412

  • Report for Q1 2014 - Key figures

    - Orders received and margins

    - Highlights

    - Development per segment

    - Geographical development

    - Financials

    - Outlook

  • www.alfalaval.com

    Highlights in the quarter

    South Korean order for freshwater generator

    module to offshore platform in the North Sea.

    Value: SEK 110 million

    Orders for 17 exhaust gas cleaning systems for

    17 ships, bringing the total to 40 systems for 35

    ships.

    Alfa Laval Packinox heat exchangers to

    integrated refinery- petrochemical complex in the

    Middle East.

    Value SEK 65 million.

    Agreement on April 7th to buy Frank Mohn AS,

    leading manufacturer of submerged pumping

    systems.

    Sales 2013: NOK 3.4 billion.

    Orders 2013: NOK 6.1 billion

    Equipment to a vegetable oil refining plan in

    Brazil.

    Value SEK 50 million.

    Alfa Laval Packinox heat exchangers to a

    refinery and petrochemical plant in Vietnam.

    Value SEK 55 million.

    Process Technology Marine & Diesel

  • www.alfalaval.com

    Service 21%*

    Marine

    pumping 50%*

    Submerged cargo pump

    Cargo heater Cargo cooler Submerged ballast pump

    Offshore

    pumping 23%*

    Water injection pumps

    Cable free electric submersible pumps

    Hydraulic fire water pumps

    Electric fire water pumps

    Electric submersible

    pumps

    Oil recovery

    systems 6%*

    Emergency offloading The Transrec system Remote offloading

    Highlight - Frank Mohn AS

    *) Sales 2013

  • Report for Q1 2014

    - Key figures

    - Orders received and margins

    - Development per segment

    - Geographical development

    - Financials

    - Outlook

  • www.alfalaval.com

    Industrial Equipment

    OEM

    Sanitary Equipment

    EQD Service

    Equipment division

    Marine & Diesel division

    Process Technology division

    Orders received by customer segment

    -

    +

    +

    =

    Marine & Diesel Equipment

    Marine & Offshore Systems

    MDD Service

    +

    +

    =

    PTD Service

    Process Industry

    Food Technology

    Energy & Environment

    +

    +

    -

    +

    Year-on-year comparison

    January – March 2014, at constant rates and like for like

  • www.alfalaval.com

    Order Sales Backlog

    Q1 2014 2,275 2, 206 1,542

    Q1 2013 2,227 2,148 1,598

    Equipment division

    Slide 13

    � Sanitary down due to larger orders not being

    repeated. Products for pharma applications

    performed well.

    � Industrial Equipment affected by non-repeats as

    well as the unusually cold winter in the US. The

    unstable situation in Ukraine affected demand in

    Russia.

    � OEM as well as Service were unchanged.

    Sanitary

    11%*

    Industrial

    Equipment

    11%

    OEM

    4%

    Service

    5%

    = =

    + =

    - -

    + -

    Year-on-year comparison

    Sequential comparison

    Highlights and sequential comments

    *Share of Group total

  • www.alfalaval.com

    Order Sales Backlog

    Q1 2014 1,923 1,537 5,093

    Q1 2013 1,615 1,515 4,457

    Marine & Diesel division

    Slide 14

    � Marine & Diesel Equipment saw overall higher

    demand following ship contracting growth

    throughout 2013.

    � Marine & Offshore Systems declined

    somewhat compared to a very strong fourth

    quarter. Demand for EGC systems grew.

    � Service grew, boosted by increased demand

    for parts as well as increased repair activity.

    +

    + -

    + +

    Year-on-year comparison

    Sequential comparison

    Highlights and sequential comments

    Marine & Diesel

    Equipment

    9%*

    Marine &

    Offshore Systems

    7%

    Service

    9%

    *Share of Group total

    =

  • www.alfalaval.com

    Order Sales Backlog

    Q1 2014 3,276 2,854 8,698

    Q1 2013 3,288 2,842 8,636

    Process Technology division

    Slide 15

    � The division’s base business was stable while the

    number of large orders declined from the

    extraordinary levels seen in the fourth quarter.

    � Food Technology lower due to less of large orders

    in Brewery and Protein. Food and Vegetable Oil

    showed very strong growth.

    � Process Industry was virtually unchanged with

    substantial growth for Refinery while Life Science

    and Petrochem both declined.

    Service

    13%

    + =

    + -

    - -

    + -

    Year-on-year comparison

    Sequential comparison

    Highlights and sequential comments

    Food Tech.

    8%*

    Energy & Environ.

    11%

    Process Industry

    12%

    *Share of Group total

  • Report for Q1 2014 - Key figures

    - Orders received and margins

    - Highlights

    - Development per segment

    - Geographical development

    - Financials

    - Outlook

  • www.alfalaval.com© Alfa Laval

    Orders received by Region

    Central & Eastern Europe 6%

    North America 19%

    Asia 35%

    Latin America 6%

    Western Europe 23%

    Nordic 9%

    Year-on-year comparison

    -21

    +17

    -3

    +11

    +4

    +4

    January – March 2014, development at constant rates

  • www.alfalaval.com© Alfa Laval

    Highlights Asia

    Year-on-year comparison

    Sequential comparison

    January - March 2014, at constant rates, sequential comments

    Asia:

    � The base business continued to develop well,

    while the project business was more mixed,

    reflecting a cautious approach from some

    customers.

    � Marine & Diesel Equipment continued to

    benefit from yard contracting. Refinery,

    petrochemicals and vegetable oil also did well.

    � China declined, affected by non-repeats. The

    base business showed a continued good

    development, supported by high activity level

    in Industrial Equipment, Sanitary and

    Environment