(News Bulletin 247) – The Swedish engineering group Alfa Laval stood out on the Stockholm Stock Exchange on Tuesday following the presentation of orders and an operating margin above expectations in the first quarter.
At the end of the session, the title of the group specializing in heat exchange, separation and transfer of fluids gained 3.6% while the European sector index fell by 0.2%.
Alfa Lava orders rose 25% organically in the first quarter to SEK 18.4 billion, driven by strong demand in energy and marine.
Its adjusted earnings before interest, taxes and amortization (Ebitda) stood at 2.4 billion crowns, against 1.8 billion a year earlier, while the consensus was for 2.1 billion.
Its adjusted operating margin fell to 16.9%, against 17.1% a year earlier, but largely exceeded the average forecast of analysts which had been established at 15%.
Alfa Laval said it expects demand to fall sequentially in the second quarter, but the strength of its order book seemed to reassure investors about its business in the months ahead.
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