STOCKHOLM, Sweden, April 27, 2004 (PRIMEZONE) -- "The first quarter 2004 was strong for Alfa Laval, both in terms of order intake, net sales and operating profit.
"Order intake increased 23 percent, excluding exchange rate variations, compared to the first quarter last year. All customer segments developed better and geographically Europe, Asia and North America showed a strong increase.
"Net sales during the period increased six percent and operating profit increased approximately 20 percent, which resulted in a operating margin of 12.0 percent, a clear positive development compared to the first quarter 2003."
Sigge Haraldsson, President and CEO, Alfa Laval
Summary of the first quarter 2004:
- Order intake increased to SEK 3,929 (3,378) million, meaning an increase by 22.6 percent excluding exchange rate variations.
- Net sales were SEK 3,184 (2,995) million, meaning an increase by 12.1 percent excluding exchange rate variations.
- Adjusted EBITA increased to SEK 383 (321) million, including adverse foreign exchange effects of SEK 68 million.
- Adjusted EBITA-margin increased to 12.0 percent (10.7).
- Result after financial items increased to SEK 211 (141) million.
- Cash flow from operating activities increased to SEK 321 (215) million.
Outlook 2004
Markets recovered during the second half of 2003 within most of the customer segments in which Alfa Laval is active. It is our opinion that the recovery will continue during 2004. Assuming that the recovery will not be affected by unforeseen events in the world, we believe in a strong increase in orders received during 2004.
We assess that the EBITA-margin, excluding currency effects, will be improved.
(The outlook for 2004 has not been changed compared to the outlook in the fourth quarter and full year 2003 report issued on February 16, 2004.)
The interim report has been issued on April 27, 2004 by the Board of Directors.
The interim report has not been subject to review by the company's auditors.
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