Alfa Laval Q2 Interim Report

01.08.2005

"Strong orders received during the second quarter 2005 gave an increase with almost nine percent, excluding exchange rate variations", Lars Renström, President and CEO.

Alfa Laval Q2 Interim Report

Lars Renström, President and CEO (photo: Alfa Laval AB)

"Alfa Laval further strengthened its market positions in a number of important areas. The demand has been on a continued high level, especially in Asia, Central and Eastern Europe. The customer segments Process Industry, OEM and Marine & Diesel have been particularly strong.

The adjusted EBITA-margin was 10.3 percent. The margin has been influenced by adverse Fx-effects and high raw material prices. We expect our price increases to have further positive effect during the second half of the year.”

Summary of the second quarter 2005

- Order intake increased to SEK 4,574 (4,174) million, meaning an increase by 8.6 percent excluding exchange rate variations.

- Net sales increased to SEK 4,101 (3,798) million, meaning an increase by 7.2 percent excluding exchange rate variations.

- Adjusted EBITA was SEK 422 (420) million, including adverse foreign exchange effects of SEK 39 million.

- Adjusted EBITA-margin was 10.3 (11.1) percent.

- Result after financial items increased to SEK 342 (306*) million.

- Cash flow from operating activities increased to SEK 277 (210) million.

Summary of the first six months 2005

- Order intake increased to SEK 8,578 (8,103) million, meaning an increase by 6.9 percent excluding exchange rate variations.

- Net sales increased to SEK 7,369 (6,982) million, meaning an increase by 6.5 percent excluding exchange rate variations.

- Adjusted EBITA was SEK 752 (803) million, including adverse foreign exchange effects of SEK 81 million.

- Adjusted EBITA-margin was 10.2 (11.5) percent.

- A comparison distortion item of SEK 125 million has been charged to the income statement relating to the closure of the manufacturing sites in Madrid and Toronto.

- Result after financial items was SEK 418 (566*) million.

- Result after tax was SEK 316 (377*) million.

- Earnings per share were SEK 2.65 (3.18*).

- Cash flow from operating activities was SEK 294 (502) million.

* Comparison for 2004 restated according to IFRS.

Outlook for the near future

“In most of the markets that Alfa Laval serves the demand is expected to be on the same high level as during 2004.

Alfa Laval also believes that the current high price level for some raw materials will remain, at least short term.”

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