Alfa Laval: shares jump after record third-quarter profit
(CercleFinance.com) - Swedish engineering group Alfa Laval said both sales and operating income reached "record levels" in the third quarter, prompting its shares to jump 7% in Stockholm.
The Lund-based company - which makes heat, cool, and transport products for chemicals and petrochemicals companies - said that its net sales rose by 15% in the past quarter to 12.05 billion Swedish kronor (about 1.1 billion euros), while adjusted EBITA rose to 2.14 billion kronor (about 200 million euros).
"Alfa's headline third-quarter results are very good but entirely driven by lumpy marine," analysts at UBS still noted.
However, the group's order intake decreased somewhat, down 10% to 10.78 billion Swedish kronor, although Alfa Laval said that it has benefited from continued high demand at most end markets.
Looking ahead, Alfa Laval expects demand in the fourth quarter to be "somewhat higher" than in the third quarter.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Lund-based company - which makes heat, cool, and transport products for chemicals and petrochemicals companies - said that its net sales rose by 15% in the past quarter to 12.05 billion Swedish kronor (about 1.1 billion euros), while adjusted EBITA rose to 2.14 billion kronor (about 200 million euros).
"Alfa's headline third-quarter results are very good but entirely driven by lumpy marine," analysts at UBS still noted.
However, the group's order intake decreased somewhat, down 10% to 10.78 billion Swedish kronor, although Alfa Laval said that it has benefited from continued high demand at most end markets.
Looking ahead, Alfa Laval expects demand in the fourth quarter to be "somewhat higher" than in the third quarter.
Copyright (c) 2019 CercleFinance.com. All rights reserved.