• Order intake was SEK 16.6 (18.9) billion, a decline of -13 percent of which -10 percent was organic.
• Net sales increased by 6 percent to SEK 17.2 (16.2) billion, with an organic increase of 8 percent.
• Adjusted EBITA increased by 14 percent to SEK 3.2 (2.8) billion, corresponding to a margin of 18.4 (17.3) percent.
• Cash flow from operating activities amounted to SEK 2.2 (3.7) billion.
• Earnings per share of SEK 5.53 (4.77).
• The acquisition of the cryogenic business from the Fives group was completed.
• Financial targets were updated to a sales growth target of 7 percent and an adjusted EBITA target of 17 percent over a business cycle.

Summary

Third quarter

Order intake declined by -10 percent* to SEK 16,555 (18,927) million.
Net sales increased by 8 percent* to SEK 17,244 (16,208) million. 
Adjusted EBITA**: SEK 3,180 (2,800) million.
Adjusted EBITA margin**: 18.4 (17.3) percent.
Result after financial items: SEK 2,967 (2,529) million.
Net income for the period: SEK 2,303 (1,983) million.     
Earnings per share: SEK 5.53 (4.77).
Cash flow from operating activities: SEK 2,206 (3,924) million.

First nine months

Order intake declined by -7 percent* to SEK 49,661 (56,116) million.
Net sales increased by 7 percent* to SEK 50,528 (48,643) million. 
Adjusted EBITA**: SEK 9,097 (8,166) million.
Adjusted EBITA margin**: 18.0 (16.8) percent.
Result after financial items: SEK 8,333 (7,166) million.
Net income for the period: SEK 6,331 (5,369) million.
Earnings per share: SEK 15.22 (12.92).
Cash flow from operating activities: SEK 5,770 (8,566) million.
Return on capital employed (%) **: 24.2 (22.8).
Net debt to EBITDA, times **: 1.11 (0.61).

* Organic change. ** Alternative performance measures.

Outlook for the fourth quarter

"We expect demand in the fourth quarter to be on about the same level as the third quarter."

Earlier published outlook (July 22, 2025):
"We expect demand in the third quarter to be somewhat higher compared to the second quarter."

The interim report has been reviewed by the company's auditors.

This information is information that Alfa Laval AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at CET 07.30 on October 28, 2025.

For more information, please contact:

Johan Lundin, Head of Investor Relations
Phone: +46 46 36 65 10,
Mobile: +46 730 46 30 90,
E-mail: johan.lundin@alfalaval.com

Alfa Laval AB (publ)
PO Box 73
SE-221 00 Lund
Sweden
Corporate registration number: 556587-8054

Visiting address:
Rudeboksvägen 1
Phone: + 46 46 36 65 00
Website: www.alfalaval.com