Alfa Laval: Alfa Laval's Capital Markets Day - Early Summary.STOCKHOLM -- Regulatory News: Alfa Laval's (STO:ALFA) Capital Markets Day, held today in Copenhagen, Denmark, started off with a business update which included a reiteration of the outlook for the fourth quarter by Lars Renstrom, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Alfa Laval Group. "We expect demand during the fourth quarter to be on about the same level as during the third quarter 2009". Lars Renstrom also talked about the company's four key focus areas in the downturn and his view on the position of Alfa Laval after the downturn. The main areas include cost and capacity adjustments as well as continued investments in the aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. and in new products. "It's of key importance to invest in new products and to launch them in an effective way to achieve profitable growth", said Lars Renstrom. Acquisitions, presented by Alex Syed, vice President Corporate Development, is another focus area in the downturn. "We have acquired companies with annual sales of about SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2.5 billion since 2007. Our target is to continue to add some 3-4% of annual sales growth through acquisitions". Under the headline: "After the downturn" Lars Renstrom described both Alfa Laval's current position and the factors that will drive the company's future growth. Alfa Laval is no. 1 in all three technologies, has an excellent global presence, adds some 3-4% of acquired growth per year and continues to focus on three vital areas; energy, environment and food. Against this background Lars Renstrom mentioned the future growth drivers. "Mid and long term we believe that structural changes will continue to drive demand for the company's products and solutions. There will be a growing need for energy, new and more stringent environmental requirements, an increase in living standards living standards npl → nivel msg de vida living standards living npl → niveau m de vie living standards living npl in developing countries and continued globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation ". Thomas Thuresson, Executive Vice President and CFO See Chief Financial Officer. , started off his presentation by commenting on the cost and capacity adjustments. "The savings in personnel will be sustainable at the current level of activity". He also said that capital expenditure in 2010 will be lower than the SEK 500-550 million expected for 2009. Guiding for sales in 2010 he pointed out that the order backlog as of Sept. 30th was SEK 1.4 billion lower than last year. Regarding taxes Thomas Thuresson said, "You can expect a tax rate of 30 percent going forward, down from the previously guided level of 32 percent". Lars Renstrom's and Thomas Thuresson's presentations can be found on www.alfalaval.com - "Investors". About Alfa Laval Alfa Laval is a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling. The company's equipment, systems and services are dedicated to assisting customers in optimizing the performance of their processes. The solutions help them to heat, cool, separate and transport products in industries that produce food and beverages, chemicals and petrochemicals, pharmaceuticals, starch, sugar and ethanol. Alfa Laval's products are also used in power plants, aboard ships, in the mechanical engineering industry, in the mining industry and for wastewater treatment, as well as for comfort climate and refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. applications. Alfa Laval's worldwide organization works closely with customers in nearly 100 countries to help them stay ahead in the global arena. Alfa Laval is listed on the Nordic Exchange, Nordic Large Cap, and, in 2008, posted annual sales of about SEK 28 billion (approx. 2.9 billion Euros). The company has some 12 000 employees. www.alfalaval.com This information was brought to you by Cision http://www.cisionwire.com |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion