Alfa Laval AB, Sweden

COMPANY WATCH

Alfa Laval AB, Sweden

Andritz Group, Austria

Key Figures (SEK million) Fourth quarter ended 31.12 2014

2013

Key Figures (E million) Fourth quarter ended 31.12 2014

2013

Order Intake

10 509

8133

1529.4

1559.7

Net Sales

10 775

8609

Cost of Goods Sold

7360

5622

Order Intake Of Which: Separation

147.9

150.0

Gross Profit

3415

2987

1736.4

1566.2

221

182

Sales Of Which: Separation

178.3

166.2

1662

1270

R&D Costs Operating Income Net Income

911

871

EBITA

145.1

(2.9)

Earnings before Interest and Taxes

119.7

(26.4)

87.3

(12.2)

Net Income Year ended 31.12 Order Intake

2014

2013

36 660

30 202

Year ended 31.12 2014

2013

Order Intake Of Which: Separation

6101.0

5611.0

595.8

604.1

5859.3

5710.8

587.3

589.7

Net Sales

35 067

29 801

Cost of Goods Sold

23 347

19 267

Gross Profit

11 720

10 534

790

702

Operating Income

4671

4353

Sales Of Which: Separation

Net Income

2968

3040

EBITA

379.5

164.1

Earnings before Interest and Taxes

295.7

89.8

Net Income

210.9

66.6

R&D Costs

COMMENT

COMMENT Alfa Laval had a record finish to fiscal 2014 setting fourth quarter high points for revenues and operating result. Net sales at the Swedish engineering group were up 18.5% on the prior year at SEK10.8 billion. The increase was primarily due to the contribution of its Frank Mohn acquisition and currency effects, with organic growth contributing approximately 1.0% of the upturn. New orders followed a similar pattern with a 29.2% increase on the corresponding 2013 figure to SEK10.5 billion mainly stemming from acquisition and currency effects. Operating income for the quarter rose 30.9% on the year prior to SEK1.7 billion, while net profit was 4.6% stronger at 88

Filtration Industry Analyst

SEK911 million. “Process Technology’s order intake grew sequentially as a consequence of a very strong development for large orders,” Lars Renström, Alfa Laval’s president and CEO, said. “The division had a good mix between different end customer markets.” Renström said order intake in the Equipment division was relatively unchanged with positive development for the sanitary market segment through higher demand from the food and pharmaceutical industries mitigated by seasonal downturns in other areas. Alfa Laval is expecting demand for the first quarter of fiscal 2015 to be lower than the last period. ■ www.alfalaval.com

Andritz posted sales of E1.7 billion for its fourth quarter of fiscal 2014, up 10.9% on a year earlier. Revenues increased yearon-year in all four of Andritz’s segments, with the Separation division posting growth of 7.3% to reach E178.3 million. The Group’s order intake for the quarter fell 1.9% on the fiscal 2013 comparator to E1529.4 million with performance mixed across the divisions. New orders in the Separation segment declined 1.4% on the year prior to E147.9 million. Profitability for the fourth quarter was up significantly on the year earlier, with net income reaching E87.3 million compared with the fiscal 2013 loss of E12.2 million.

For the corresponding full year, group sales rose 2.6% on the year prior to register E5.9 billion, although Separation revenues were down 0.4% at E587.3 million. Order intake followed a similar pattern with the overall total up 8.7% at E6.1 billion, but Separation’s figure down 1.4% at E595.8 million. “From today’s perspective, no substantial change is expected in project activity in the markets served by Andritz compared to the satisfactory level of 2014,” Wolfgang Leitner, Andritz’s president and CEO, said. “The market environment is still challenging, which is why we will continue with our measures to further enhance competitiveness and profitability this year.” ■ www.andritz.com

March 2015