The following is a summary of the Alfa Laval Corporate AB (ALFVY) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Alfa Laval reported stable Q1 2024 order intake year-on-year, up 8% sequentially.

• EBITA improved slightly from the previous year, but the margin decreased somewhat.

• The company's order book grew to about SEK 48 billion with book-to-bill in the quarter being 1.23.

• Adjusted EBITA margin was 16.3% or SEK 2.4 billion.

• Q1 generated a cash flow from operating activities of SEK 1.7 billion.

• Q1 investment of SEK 818 million indicates increased capital expenditure.

• The company saw strong order intake especially in Marine with significant contribution from its pumping system orders.

Business Progress:

• Alfa Laval continues to lead the energy transition while maintaining profitability and a strong balance sheet.

• Growth in services led to this sector accounting for 31% of Energy division's order intake.

• Despite lower-than-expected invoicing, the Food & Water division witnessed robust demand and grew 10% versus last year.

• The Marine division demand was stronger than forecasted and surged by 30% sequentially.

• Alfa Laval is expanding into new business areas, particularly in the HVAC sector.

• Ongoing investments are aimed at operations development and manufacturing technology.

• The company plans to sustain organic growth with focus also on potential mergers and acquisitions.

• Alfa Laval noted increasing interest in multifuel ships, signaling an emerging market.

• The company urges attendance to its planned Capital Markets Day in November in Volterra.

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