Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ALFA LAVAL AB. We currently have 8 research reports from 1 professional analysts.
|27Dec16 07:50||PRN||Alfa Laval PureBallast Receives U.S. Coast Guard Type Approval|
|22Dec16 07:43||PRN||Alfa Laval Wins SEK 55 Million Service Order in France|
|20Dec16 07:54||PRN||Alfa Laval Wins SEK 65 Million Energy-Efficiency Order|
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ALFA LAVAL AB
ALFA LAVAL AB
Restructuring one-offs at SEK1.5bn; SEK300m G&A savings
25 Oct 16
Q3 results: net sales were SEK8.6bn (-11% yoy), in line with consensus expectations. The order intake came in at SEK7.5bn (-13% yoy), below estimates. The adjusted EBITDA, at SEK1,339m (-20% yoy), is also in line. However, the company reported an operating loss (-SEK33m, vs. a SEK1,402m operating income in Q3 15) due to restructuring costs: SEK1.1bn in Q3, o/w SEK600m of write-offs and SEK500m for redundancies (700 employees, c. 4% of headcount); Alfa Laval expects SEK1.5bn in total. The company aims at saving SEK300m on sales and administrative costs. The net loss was at SEK106m (vs. a SEK988m profit in Q3 15). Outlook for Q4 16: demand in line with or somewhat higher than in Q3.
Strategic review: first results
30 Aug 16
The strategic review aims at getting back on to a solid organic growth track and face the hurdles related to the oil & gas and marine sectors. The organisation will be structured around target industries, where divisions bundle product-based business units: - Marine division; - Food & Water division; - Energy division. The divisions will share common Global Sales & Service (regrouping the previously three regional sales functions) as well as Operations. The strategy has three pillars: - Customers: improve interaction. The goal is to improve speed in customer interaction through clarity and accountability. Moreover, the company should become more selective in picking its market and application presence: fewer areas with better growth prospects. - Products: technological strength. Alfa Laval continues to rely on its three core technologies. Development axes include customer energy/environmental performance and digitalisation. The group will invest in a new R&D lab for high-speed separators in Sweden. - Services: expand the offering. New service centres are being open in 2016 (Iran, Angola and California).
Lack of large orders in Q2 16 with slow oil & gas and marine
18 Jul 16
In Q2 16, the order intake was SEK8.1bn (-9% yoy, ex. currency effects), above consensus estimates of SEK7.9bn. Net sales declined by 9% yoy (at constant currencies), to SEK8.8bn. Adjusted EBITA was SEK1.4bn (-23% yoy), just slightly below consensus. The operating income came in at SEK1.1bn (-27% yoy). Net income was SEK931m (-13% yoy), beating consensus of SEK797m. Outlook for Q3 16: demand in line with or somewhat lower than in Q2.
Starting a strategic review
26 Apr 16
Q1 16 results: the order intake was at SEK 7.7bn (-19% yoy, ex. currency effects). Net sales fell by 6% yoy (at constant currencies), to SEK 8.2bn. Adjusted EBITA was at SEK 1.3bn (-15% yoy), missing consensus. The operating income came in at SEK 1.1bn (-17% yoy), also below consensus. Net income was at SEK 871m (flat yoy), somewhat above consensus. Cash flow from operations stood at SEK 0.9bn (-17% yoy). Outlook Q2 16: demand at about the same level as in Q1 16.
Q4 15 missing expectations and weak demand calls for negative revision
02 Feb 16
Q4 results: the order intake was at SEK9.4bn (-11% yoy, ex. currency effects). Net sales declined by 2% yoy (at constant currencies), to SEK10.8bn. Adjusted EBITA came in at SEK1.8bn (-10% yoy), below consensus. The operating income came in at SEK1.5bn (-11% yoy). Net income was at SEK935m (+3% yoy), missing the consensus. Cash flow from operations of SEK1.9bn (+11% yoy). Outlook Q4 15: demand somewhat lower than in Q4 15.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
16 Jan 17
We take a look at the rankings of the various countries in Africa that have a significant exposure to mining. We take the Transparency International corruption rankings as our starting point and modify these for exceptional geology and for current UK government travel warnings. Ghana, Botswana and Namibia come out as our top three, with Eritrea, Kenya and Zimbabwe at the bottom of our rankings.
19 Jan 17
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Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
N+1 Singer - St Ives - Downgrade
19 Jan 17
Marketing activation has been impacted by further decline in grocery retail impacting profit by c£5m. Strategic The Company is also taking this opportunity to revise its guidance for Strategic Marketing as its recovery pace is not running at the planned target rate. PBT falls from N1Se £31.9m to £25m. The Company expects dividend to be held based upon lowered guidance and the implied cash flow performance. There do not appear to be any covenant issues. Forecasts and TP under review and downgrade to Hold. We expect the shares to test the 100p level.
N+1 Singer - Northern lights - Shining prospects for 2017
16 Jan 17
As the birthplace of Stephenson, Armstrong and Swan, the North East of England has a proud history of industrial and technological innovation. Despite local economic challenges, the region’s industrial heritage lives on through continuing success in high end engineering and technology. The recent takeovers of private equity backed SMD (subsea robotics) and Nomad Digital (wi-fi on the railways) are testament to this. The North East has also emerged as a leader in genetics and genomics with an enviable life sciences and healthcare infrastructure. Against this backdrop, we expect the region to continue to throw up attractive IPO candidates to build on the six new listings in the past three years. We expect 2017 to be far kinder to the existing portfolio of North East plcs than 2016 (a year to forget) with recent management changes one important theme for the new year. Our top picks are Hargreaves Services, Quantum Pharma and Zytronic (all N+1 Singer Corporate clients) and we are Buyers of Northgate and Grainger.