Alfa Laval AB (STU:AA9)
€ 40.94 -0.5 (-1.21%) Market Cap: 17.11 Bil Enterprise Value: 17.92 Bil PE Ratio: 29.57 PB Ratio: 4.87 GF Score: 94/100
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Q4 2023 Alfa Laval AB Earnings Call Transcript

Feb 06, 2024 / 08:00AM GMT
Release Date Price: €32.95 (-3.43%)
Tom Erixon
Alfa Laval Corporate AB - President & CEO

Good morning. Fredrik and I would like to welcome you to the full year 2023 earnings call and share some comments and reflections on the quarter and on the year. Let me, as always, do a couple of introductory comments on the year.

The full year 2023 was kind of a tick in the box type of year. The invoicing grew 22% to SEK 64 billion, reflecting a solid order book and stable supply chains, finally. Cash flow finally returned to normal conversion rates and reached SEK 9 billion or 3x that of last year. The Marine division started a strong margin recovery in the second half of 2023 as earlier guided, and reached an 18% margin in the quarter, well in line with expectations. And finally, earlier acquisitions performed well and ahead of plans with a strong development for both Desmet and StormGeo as the prime examples. So a good year overall.

In Q4, specifically, demand remained sequentially stable in line with guidance and reach an invoicing record level. Looking into 2024, we have a solid order book of SEK 45 billion, SEK 8 billion

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