Q4 2025 Alfa Laval AB Earnings Call Transcript
Key Points
- Alfa Laval AB (ALFVF) achieved record invoicing and earnings in 2025, with earnings per share reaching SEK20 for the first time.
- The Energy Division saw orders reach an all-time high in Q4, driven by strong demand in HVAC and clean tech applications.
- The company launched a SEK1 billion CapEx program to maintain market leadership in heat transfer applications for data centers.
- The Marine Division maintained a stable market with a solid order book and positive mix, supporting continued good invoicing levels.
- Alfa Laval AB (ALFVF) is well-positioned for future growth with a simplified operating model and consolidated business unit structure.
- The company experienced a 2% organic decline in orders in Q4, with a negative currency impact of 8.7%.
- The Food & Water Division faced margin impacts due to weak project execution and reorganization costs, totaling approximately SEK80 million.
- The service business growth trend slowed in 2025, with the Energy Division facing internal constraints.
- Alfa Laval AB (ALFVF) carried SEK150 million in one-off costs related to reorganization and project execution issues.
- The company faced a negative currency impact on revenues, affecting the adjusted EBITA margin despite strong manufacturing results.
Good morning, and welcome to Alfa Laval's fourth-quarter and full-year earnings call for 2025. So Fredrik and I, we will give you a rundown presentation, a summary of the quarter and the year, and then we will go to the Q&A as always. So let me start with some introductory comments to the quarter and the year.
In all, we felt it was a strong year in 2025, resulting in record invoicing and record earnings, with earnings per share for the first time climbing to SEK20 per share. The supply chain was strong, especially in the quarter, and we delivered a record invoicing of SEK19 billion in the fourth quarter.
With that said, we still need capacity additions that are required to support our customer base in the data center applications. And yesterday, the Board of Directors approved a targeted CapEx program of SEK1 billion for this purpose specifically.
Then finally, during 2025, Alfa Laval has prepared for further growth by simplifying the operating model and consolidating the business unit structure. It is a
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