July 16, 2018 / 10:14 AM / 3 months ago

Alfa Laval Q2 orders breeze past forecast, shares jump

STOCKHOLM (Reuters) - Engineering group Alfa Laval (ALFA.ST) on Monday reported quarterly order intake far above analyst forecasts with its marine division driving a broad upturn but said it expected demand in the third quarter to decline somewhat.

The Swedish company reported second-quarter order intake of 12.06 billion crowns ($1.37 billion), beating a 10.25 billion mean analyst forecast in a Reuters poll.

It said its quarterly adjusted earnings before interest, taxes and amortization (EBITA) rose to 1.70 billion crowns from a year-ago 1.41 billion, ahead of the 1.61 billion crown market forecast.

“Order intake during the second quarter was significantly stronger than earlier expected, with contributions from all three divisions,” Alfa Laval CEO Tom Erixon said in a statement.

Alfa Laval shares, which were flat ahead of the results, rose 6 percent at 1007 GMT.

Reporting by Johannes Hellstrom; editing by Niklas Pollard

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