Report for Q Key figures - Orders received and margins - Development per segment - Geographical development - Financials - Outlook

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2 Report for Q Key figures - Orders received and margins - Development per segment - Geographical development - Financials - Outlook Mr. Lars Renström President and CEO Alfa Laval Group

3 Key figures January March 2012 Orders received rose 22% to SEK 7,895 million. Net sales increased 16% to SEK 6,831 million. Adjusted EBITA declined 1% to SEK 1,128 million. Adjusted EBITA margin 16.5% vs 19.2% - Negative currency effect SEK 25 million. Alfa Laval Slide 3

4 Report for Q Key figures - Orders received and margins - Development per segment - Geographical development - Financials - Outlook

5 Orders received SEK million SEK million R % -32% -6% +38% +21% Q108 Q208 Q308 Q408 Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112 0 = Order intake per quarter large = Rolling twelve months value = Order intake per quarter +XX% = % development at constant rates by quarter, year on year

6 Order analysis Q versus Q and versus Q (MSEK) 6,455 Q Q Structural change, % Organic development, % Total Currency effects,% , Total, % Q ,895 Q ,895 Alfa Laval Slide 6

7 Adjusted EBITA / margin* SEK millions and in percent of sales , , , , , , , ,0 0 Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112 0,0 * Adjusted EBITA Earnings before interests, taxes, amortization of goodwill and step up values and comparison distortion items. Alfa Laval Slide 7

8 Report for Q Key figures - Orders received and margins - Development per segment - Geographical development - Financials - Outlook

9 Orders received by customer segment January March 2012, at constant rates and like for like PTD Parts & Service + = Industrial Equipment - OEM Process Industry - - Sanitary Equipment Energy & Environment + + * EQD Parts & Service Marine & Offshore Systems Food Technology Marine & Diesel Equipment MDD Parts & Service Equipment division Marine & Diesel division Process Technology division Year-on-year comparison * New customer segment, no corresponding period last year exists.

10 Equipment division Highlights and sequential comments Sanitary boosted by demand for prepared food. Industrial equipment declined somewhat due to seasonality in Comfort. OEM slightly positive on demand from AC and Industrial Refrigeration customers. Parts & Service reached all-time high level. Order Sales Backlog Q ,339 2,233 1,501 Q ,316 2,193 1,469 Year-on-year comparison Sanitary 9%* - + Industrial Equipment 11% = - OEM 3% - + Parts & Service 5% + + *Share of Group total Sequential comparison Slide 10

11 Marine & Diesel division Highlights and sequential comments Demand for environmental solutions continued to grow, while demand for other marine equipment stayed at Q4 level. Diesel down due to non-repeats. Marine & Offshore lifted by demand for boiler systems. SEK230 mln order for A.P. Møller Mærsk vessels. Order Sales Backlog Marine & Diesel Equipment 9%* - - Marine & Offshore Systems 8% x + Parts & Service 9% - + Q ,956 1,820 5,665 Q ,271 1,207 3,378 Year-on-year comparison x New customer segment, no corresponding period last year exists. Sequential comparison Slide 11 * Share of Group total

12 Process Technology division Highlights and sequential comments Food Technology supported by further investments in brewery and vegetable oil. Orders for newly developed decanters boosted Energy & Environment. Process Industry affected by lower order intake in Refinery and Life Science. Good activity in end markets supported P&S. Order Sales Backlog Q ,600 2,778 7,723 Q ,868 2,499 6,481 Food Tech. 7%* + + Energy & Environ. 17% + + Process Industry 10% - - Parts & Service 12% + + Year-on-year comparison *Share of Group total Sequential comparison Slide 12

13 Report for Q Key figures - Orders received and margins - Development per segment - Geographical development - Financials - Outlook

14 Orders received by Region January March 2012, development at constant rates Latin America 7% +26 North America 21% Asia 34% Western Europe 19% +32 Nordic 9% Central and Eastern Europe 8% Year-on-year comparison Alfa Laval

15 Highlights Asia January March 2012, at constant rates, sequential comments Asia: Increase in orders due to strong performance in the project business as well as part of the Marine & Diesel Division. Marine & Offshore Systems, Food Technology and Process Industry performed the best Year-on-year comparison Sequential comparison Alfa Laval

16 Highlights Europe January March 2012, at constant rates, sequential comments Western Europe incl. Nordic: Orders rose, boosted by large orders. Best development seen in France, Nordic and the UK. Sanitary and Energy & Environment did particularly well. Central and Eastern Europe: Remained on a good level, supported by a strong development for large orders in Process Technology. Equipment Division showed a small decline. Year-on-year comparison Sequential comparison Alfa Laval

17 Highlights Americas January March 2012, at constant rates, sequential comments North America: Sanitary did very well, as did Energy & Environment, boosted by orders for new decanter for industrial wastewater cleaning. Demand for P&S was up and base business rose slightly from previous quarter Latin America: Good growth across the line. Energy & Environment did particularly well as did Industrial Equipment. Parts & Service benefitted from a high activity level in the end markets of the Process Technology division Year-on-year comparison Sequential comparison Alfa Laval

18 Top 10 markets SEK million at prevailing rates United States China Nordic Korea, South Mid Europe South East Asia Adriatic Russia Brazil India = Rolling 12-months = WY 2011 Alfa Laval Slide 18

19 Report for Q Key figures - Orders received and margins - Development per segment - Geographical development - Financials - Outlook Mr. Thomas Thuresson CFO Alfa Laval Group

20 Highlights SEK millions January March 2012 Order intake Net sales 7,895 6,831 Alfa Laval Slide 20

21 Gross profit margin In percent of sales Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112 Alfa Laval

22 Highlights SEK millions January March 2012 Order intake Net sales Adjusted EBITA Adjusted EBITA-margin Profit before tax Earnings per share Earnings per share, excl step-up Cash flow from operating activities ROCE ROE 7,895 6,831 1, % 1, , % 22.5% Alfa Laval Slide 22

23 Cash-flow statement SEK millions Jan March 2012 Jan March 2011 Cash flow from - operating activities - investing activities Financial net paid Total 1, Pro Forma Free cash-flow* *Incl. operating activities, capital expenditure and financial net paid Alfa Laval Slide 23

24 Delisting of Alfa Laval India Ltd. Alfa Laval India Ltd was delisted from two Indian stock exchanges as of April 12 th. The delisting follows Alfa Laval reaching the necessary ownership level of the outstanding minority shares. Alfa Laval paid approximately SEK 550 million, or INR 4,000 a piece for 1.03 million shares, reaching an ownership of 94.5 percent. If all shareholders accept the offer, the total price paid will be SEK 1.06 billion.

25 Foreign exchange Estimated impact on adjusted EBITA from FX fluctuations SEK million Q1 12 FY 12 FY 13* Translation effect Transaction effect Total *Based on EUR/USD 1.30 and EUR/SEK 8.90 Projected FX-effect for 2012 as communicated with the Q4 report SEK -5 million Alfa Laval Slide 25

26 Order backlog as per March. 31 SEK millions ,328 2,418 8,910 14,889 4,174 10, Q108 Q109 Q110 Q111 Q112 Book to bill For delivery next year or later For delivery during the same year Alfa Laval Slide 26

27 Sales Full year 2012 SEK (bln) Full year Order backlog, like-for-like Aalborg, 4 months FX-translation Subtotal 29.5 Orders in-for-out? Price? Full year 2012 * An indication based on FY orders Less 8 months of sales 2011.

28 Report for Q Key figures - Orders received and margins - Development per segment - Geographical development - Financials - Outlook Mr. Lars Renström President and CEO Alfa Laval Group

29 Outlook for the second quarter We expect that demand during the second quarter 2012 will be on about the same level as in the first quarter, excluding large orders. Alfa Laval Slide 29

30 Alfa Laval Slide 30

31 Cautionary statement This presentation contains forward-looking statements that are based on the current expectations of the management of Alfa Laval Group. Although management believes that the expectations reflected in such forwardlooking statements are based on reasonable assumptions, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those implied in the forward-looking statements as a result of, among other factors, changes in economic, market and competitive conditions, changes in the regulatory environment, other government actions and fluctuations in exchange rates. Alfa Laval undertakes no obligation to publicly update or revise these forward-looking statements, other than as required by law or other regulations. Alfa Laval Slide 31