Engineering company Alfa Laval (OMX: ALFA) came out with interim numbers for Q2 2012 before market open. The heat exchangers, centrifugal separators, boilers, pumps and valves maker reported increased sales of 7.8 billion but with operating margin down to 16.5% from 19%, operating result of 1.3 billion SEK was slightly lower than in the same period last year. The company attributed this to product mix issues and lower capacity utilization on certain factories. Order intake remained strong with 7.9 billion booked during the quarter.
Process industry demand remained strong while Equipment division had a seasonal demand hike in the end of the quarter. Marine & Diesel division demand comes from aftermarket and land based diesel power stations but depressed demand in shipbuilding means overall activity level is still down somewhat. There was growth across Europe behind a few large orders where as Asia and North America slowed down. The company expects Q3 demand to remain level with the second quarter.
No comments:
Post a Comment