CMD03 Sigge 030916 F - Alfa Laval

© Alfa Laval Slide 2 www.alfalaval.com

Today’s programToday’s programCapital Market Day, September 16, 2003Capital Market Day, September 16, 2003

•• Summary of the interim report Q203Summary of the interim report Q203Sigge Haraldsson

•• The Alfa Laval growth strategyThe Alfa Laval growth strategySigge Haraldsson

•• A solid platform for profitable growth A solid platform for profitable growth -- Regions Regions Per-Erik Lindquist and Peter Leifland

•• A continued strengthening of our leading position A continued strengthening of our leading position –– R&D R&D Bjarne Sondergaard

•• Acquisitions Acquisitions –– strategy and focusstrategy and focusNils Olof Björk

•• Questions and AnswersQuestions and Answers

Summary of Summary of Interim report Q203Interim report Q203

MrMr.. Sigge HaraldssonSigge HaraldssonPresident and CEOPresident and CEOAlfa Laval GroupAlfa Laval Group


HighlightsHighlights

Order intake: Order intake: 3,554 MSEK3,554 MSEKNet sales: Net sales: 3,402 MSEK3,402 MSEK

Q203Q203


Q on Q vs. last year (excl FX)Q on Q vs. last year (excl FX)

-10

-8

-6

-4

-2

0

2

4

Q103 Q203 Jan-June 03

Orders receivedOrders received

-10

-8

-6

-4

-2

0

2

4

Q103 Q203 Jan-June 03

Net salesNet sales



Order intake: Order intake: 3,554 MSEK3,554 MSEKNet sales: Net sales: 3,402 MSEK3,402 MSEKAdjusted EBITA / margin: Adjusted EBITA / margin: 412 MSEK / 12.1 %412 MSEK / 12.1 %

Q203Q203


0

100

200

300

400

500

600

700

0,0

2,0

4,0

6,0

8,0

10,0

12,0

14,0

Q300Q300 Q400Q400 Q101Q101 Q201Q201 Q301Q301 Q401Q401 Q102Q102 Q202Q202 Q302Q302 Q402Q402 Q103Q103 Q203Q203

MSEK and in percent of salesMSEK and in percent of sales

* Adjusted EBITA – ”Earnings before interests, taxes, amortization of goodwill and step up values and comparison distortion items.”

Adjusted EBITA / margin *Adjusted EBITA / margin *



Order intake: Order intake: 3,554 MSEK3,554 MSEKNet sales: Net sales: 3,402 MSEK3,402 MSEKAdjusted EBITA / margin: Adjusted EBITA / margin: 412 MSEK / 12.1 %412 MSEK / 12.1 %Profit before tax: Profit before tax: 214 MSEK214 MSEK

Q203Q203




Adjusted EBITA / margin: Adjusted EBITA / margin: 734 MSEK / 11.5 %734 MSEK / 11.5 %

Q203Q203

H103H103


20032002

412445

Q2Q2

807

734

MSEKMSEK H1H1

Deviation - 33

FX. translation 28

FX. transaction 35

Deviation excl FX + 30

- 73

60

55

+ 42

Adjusted EBITA Adjusted EBITA




Adjusted EBITA / margin: Adjusted EBITA / margin: 734 MSEK / 11.5 %734 MSEK / 11.5 %

Q203Q203

H103H103Profit before tax: Profit before tax: 355 MSEK 355 MSEK Cash flow from operating activities: Cash flow from operating activities: 650 MSEK 650 MSEK ROCE: ROCE: 20.9 %20.9 %


>850825

““Beyond ExpectationsBeyond Expectations””

Other ProjectsOther Projects

BOM & NPRBOM & NPR

Org. reOrg. re--designdesign

Shared ServicesShared Services

ManufacturingManufacturing””TargetTarget”” ””Current paceCurrent pace””

In the P&L, MSEK 725 In the P&L, MSEK 725


7500

8000

8500

9000

9500

Number of employeesNumber of employees

9,3999,399 9,1509,150Acquisitions Acquisitions + 166+ 166Closure Kenosha Closure Kenosha -- 124124Other reductions Other reductions -- 291291

30 June, 2002 30 June, 2003


AsbestosAsbestos--related lawsuits in the USrelated lawsuits in the USAlfa Laval Inc. was as of June 30, 2003 named coAlfa Laval Inc. was as of June 30, 2003 named co--defendant in a defendant in a total of 109 asbestostotal of 109 asbestos--related lawsuits with a total of approximately related lawsuits with a total of approximately 20 200 plaintiffs. The lawsuits filed in Mississippi account for20 200 plaintiffs. The lawsuits filed in Mississippi account forapproximately 99% of all plaintiffs.approximately 99% of all plaintiffs.

Developments between March 31 and June 30, 2003Developments between March 31 and June 30, 2003::-- 15 lawsuits have been resolved during the period, which gives a15 lawsuits have been resolved during the period, which gives a

grand total of 52 lawsuits that have been resolved;grand total of 52 lawsuits that have been resolved;

-- 27 additional lawsuits with a total of approximately 2 700 plai27 additional lawsuits with a total of approximately 2 700 plaintiffs.ntiffs.

Alfa Laval continues to believe:Alfa Laval continues to believe:-- that claims and defense costs against Alfa Laval Inc. will be cthat claims and defense costs against Alfa Laval Inc. will be coveredovered

by insurance policies;by insurance policies;-- that these lawsuits will not have a material adverse effect on that these lawsuits will not have a material adverse effect on thethe

company’s financial condition or result of operation.company’s financial condition or result of operation.


Orders Received by Segment

Comfort & RefrigerationComfort & Refrigeration

SanitarySanitary

Marine & DieselMarine & Diesel

Fluids & UtilityFluids & Utility

OEMOEM

Parts & ServiceParts & Service

Life ScienceLife Science

Process IndustryProcess Industry

Energy & EnvironmentEnergy & Environment

FoodFood

+

+

−

+

−

−

−

+

+

=

January – June 2003


Orders Received by RegionOrders Received by Region

Cen

trC

entr.

& E

ast

8 %

. & E

ast

8 %

North A

merica

18 %

North A

merica

18 %

Asia 24 %

Asia 24 %

L. America 4 %

L. America 4 %

Other 2 %

Other 2 %

Western EuropeWestern Europe31 %31 %

Nordic 13 %

Nordic 13 %

++

++++

---- --

--

January – June 2003


Outlook 2003Outlook 2003

“Order intake will show a limited increase “Order intake will show a limited increase during the year. Additional savings initiatives during the year. Additional savings initiatives will reduce the impact from foreign exchange will reduce the impact from foreign exchange exposures. Profit before tax will show a exposures. Profit before tax will show a major improvement.”major improvement.”



Summary of the interim report Q203Summary of the interim report Q203Sigge Haraldsson

•• The Alfa Laval growth strategyThe Alfa Laval growth strategySigge Haraldsson

•• A solid platform for profitable growth A solid platform for profitable growth -- Regions Regions Per-Erik Lindquist and Peter Leifland




The Alfa Laval The Alfa Laval growth strategygrowth strategy

MrMr.. Sigge HaraldssonSigge HaraldssonPresident and CEOPresident and CEOAlfa Laval GroupAlfa Laval Group


V

Our MissionOur Mission

To optimise the performance of our customers’ processes. Time and time again.


Accelerating growth: Accelerating growth: TThe six step Alfa Laval gearbox he six step Alfa Laval gearbox

1 3 5

2 4 6


The drivers behind Alfa Laval’s The drivers behind Alfa Laval’s growth strategygrowth strategy

1 3 5

2 4 6

1st gear: EExistingxisting range of productsproducts

2nd gear: MMarketarket--driven R&Ddriven R&D

3rd gear: Focus on customer segmentscustomer segments

4th gear: Strong commitment to Parts & ServiceParts & Service

5th gear: Exploitation of new market conceptsnew market concepts

6th gear: Ambition to add new core productsnew core products


666

3 51

2 4

1

2

53

4

55

2

1

6

3

4

5

6

What doesWhat does it all it all addadd up to?up to?ExistingExistingproductsproducts

CustomerCustomersegmentssegments

New marketNew marketconceptsconcepts

MarketMarket--drivendrivenR&DR&D

Parts & ServiceParts & Service New coreNew coreproductsproducts

All six gears should give us an annual average growth of 5% over a business cycle.


TThe six step gearboxhe six step gearbox processprocess

The 6The 6--G Sales PlanG Sales Plan

Sales Companies

Sales Companies

The 6The 6--G Market PlanG Market PlanDivisions &Divisions &

SegmentsSegments

The 6The 6--G Growth StrategyG Growth StrategyGroupGroup


Continued improvement Continued improvement 1 3 5

4 62

1

Compabloc Think Top valve

Brazed heat exchanger

Separation unit


AlfaCondAlfaCond1 3 5

4 622

• The world’s first tailor-made plate condenser.

• Efficient and compact.

VapourVapourCondensateCondensateCoolingCooling waterwater


Adding value:Adding value:

Market penetrationMarket penetration

• Sales through Sales Companies in 50 countries and through external sales channels;

• About 300 new sales channels added during 2002, most of them in Germany, Japan, India, Denmark, Italy and Russia.

1 3 5

4 62

3


Adding value:Adding value:

Complementary acquisitionsComplementary acquisitionsToftejorgToftejorg• Annual sales of about 210 MSEK.• Approx. 100 employees in R&D, manufacturing and sales.• Sales companies in Sweden, Norway, Germany, UK, France,

USA and Singapore. • Sales by geographical area; Europe 52%, USA/Americas 15%,

Asia 33%.

1 3 5

4 62

3


Nonstop Performance Nonstop Performance -- The house with well defined offers The house with well defined offers --

PerformancePerformance agreementsagreements

Genuine Genuine Spare Spare PartsParts Global NetworkGlobal Network LocalLocal ServiceService

Reconditioning& Repair Training Exchange

Parts/assembliesMaintenance

tools

Upgrading Audits &Consulting

Cleaning &chemicals Monitoring

1 3 5

4 62 4


Cleaning of crankcase gasesCleaning of crankcase gases1 3 5

4 62

5

• New innovative solution to separate fluids and solids from gases;

• Require manufacturers of diesel engines to clean also the crankcase gas that is ventilated from engines;

• Technical and commercial cooperation with Haldex.


Alfa Laval OctopusAlfa Laval Octopus1 3 5

4 62

5

The dewatering process represents 35% of the total cost of the waste water treatment;Case story - customer benefits: - Resources: - 70% man-hours- Polymer consumption: - 25%- Sludge volume: 3% to 5% dryness improvement- Energy saving: - 6%


Membrane separationAcquisition of DSS• Annual sales: 90 MSEK• Located in Nakskov and Copenhagen• 65 people in R&D, manufacturing and sales• Active in Food (1/3) & Life Science (2/3)• Active in DK, IT, UK, GE

1 3 5

4 62 6



Introduction and the interim report Q203Introduction and the interim report Q203Sigge Haraldsson

The Alfa Laval growth strategyThe Alfa Laval growth strategySigge Haraldsson

•• A solid platform for profitable growth A solid platform for profitable growth –– Regions Regions Per-Erik Lindquist and Peter Leifland




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