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Classified by Alfa Laval as: Business Report for Q2 2026 1 Tom Erixon President and CEO 20 July 2026Q2 2026 Classified by Alfa Laval as: Business
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Classified by Alfa Laval as: Business Key figures SEK million Q2 2026 Q2 2025 Tot ∆ Org ∆ Q1 2026 Order intake 22,235 16,444 35% 29% 17,612 Net sales 18,117 16,819 8% 6% 15,919 Adjusted EBITA 3,071 3,001 2% 2,887 Adjusted EBITA-margin 17.0% 17.8% 18.1% Q2 2026 2
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Classified by Alfa Laval as: Business Energy Division Highlights and comments, SEK million Markets and order intake • Record high order intake. • All business units reported organic order growth. • Continued strong demand in data centers. • Best quarter ever for the recently acquired cryogenic business. Profitability • The combined effects from cost inflation, an uneven load in some manufacturing units, one-off items and mix had a negative impact on the margin. • The negative effects are expected to be temporary and largely isolated to the second quarter. Q2 2026 Q2 26 Q2 25 Tot ∆ Org ∆ Q1 26 ORDERS 7,776 4,566 70.3% 35.9% 6,246 SALES 6,180 4,601 34.3% 17.2% 4,971 Adj EBITA 995 796 871 Adj EBITA (%) 16.1% 17.3% 17.5% 0 200 400 600 800 1 000 1 500 2 500 3 500 4 500 5 500 6 500 Sales Adj. EBITA 2023 2024 2025 3 2026
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Classified by Alfa Laval as: Business Food & Pharma Division Highlights and comments, SEK million Markets and order intake • All-time high order intake. • All business units reported organic order growth. • Transactional business remained strong. • Record order booked in Biofuels. Profitability • The margin was stable compared to last year quarter. Lower costs compensated for decreased invoicing and negative currency effects. Q2 2026 Q2 26 Q2 25 Tot ∆ Org ∆ Q1 26 ORDERS 7,725 6,450 19.8% 26.5% 6,148 SALES 5,943 6,162 -3.6% 2.9% 5,295 Adj EBITA 871 904 805 Adj EBITA (%) 14.7% 14.7% 15.2% 0 250 500 750 1 000 1 250 1 500 2 000 3 000 4 000 5 000 6 000 7 000 8 000 Sales Adj. EBITA 20262023 2024 2025 4
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Classified by Alfa Laval as: Business Ocean Division Highlights and comments, SEK million Markets and order intake • The business environment in the marine industry remained firm. • Demand for new ship contracting remained positive, driven by product tankers, container vessels and LNG carriers. • Strong order intake in marine cargo pumping, with positive development for growth initiatives targeting the LR-tanker segment. Profitability • The margin increased both sequentially and compared to last year, driven by good order book execution and Service. Q2 2026 Q2 26 Q2 25 Tot ∆ Org ∆ Q1 26 ORDERS 6,607 5,427 21.7% 26.2% 5,096 SALES 5,845 6,056 -3.5% -0.3% 5,497 Adj EBITA 1,455 1,448 1,207 Adj EBITA (%) 24.9% 23.9% 22.0% 0 300 600 900 1 200 1 500 2 000 3 000 4 000 5 000 6 000 7 000 Sales Adj. EBITA 20262023 2024 2025 5
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Classified by Alfa Laval as: Business Service orders, Q2 Order intake, SEK million 0 5 000 10 000 15 000 20 000 25 000 1 000 2 000 3 000 4 000 5 000 6 000 7 000 Order intake per quarter Rolling twelwe months value Q2 2026 6 Ocean Food & Pharma Energy 31%* 23%* 21%* 20262022 2023 2024 2025 *% of total order intake, Q2
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Classified by Alfa Laval as: Business Top ten markets, LTM* SEK million 7 0 2 000 4 000 6 000 8 000 10 000 12 000 14 000 16 000 18 000 France Mid Europe India Adriatic Brazil South Korea South East Asia Nordic China United States *Top ten markets, order intake last twelve months. Q2 2026
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Classified by Alfa Laval as: Business Orders received by region Q2 2026 8 YTD 2026 vs.YTD 2025, % North America Latin America North Europe East Europe India, & MEA South Europe North East Asia South East Asia & Oceania +60% +43% 3% 0% +31% -3% 14% 1% Fixed rates
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Classified by Alfa Laval as: Business Financials Q2 2026 Fredrik Ekström, CFO Q2 2026 9 20 July 2026
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Classified by Alfa Laval as: Business Orders received SEK million 10 Q2 2026 • Order intake of 22,235 MSEK (16,444) • 35.2% growth • 28.5% organic growth • 8.6% structure • -1.9% currency YTD 2026 • Order intake of 39,847 MSEK (34,229) • 16.4% growth • 17.1% organic growth • 5.5% structure • -6.2% currency 0 10 000 20 000 30 000 40 000 50 000 60 000 70 000 80 000 0 3 000 6 000 9 000 12 000 15 000 18 000 21 000 24 000 B-orders Order intake LTM L-orders 2022 2023 20252024 2026
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Classified by Alfa Laval as: Business Order book as per 30 June SEK billion 11 Q2 2026 • Order book of 53.5 BSEK • 29.1 BSEK for delivery 2026 • 24.5 BSEK for delivery 2027 or later • Q2 book-to-bill of 1.23 0 10 20 30 40 50 60 20262022 2023 20252024 For delivery during current year For delivery next year or later
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Classified by Alfa Laval as: Business Sales SEK million 12 SEK million 0 10 000 20 000 30 000 40 000 50 000 60 000 70 000 80 000 6 000 8 000 10 000 12 000 14 000 16 000 18 000 20 000 Order intake LTM Sales per quarter 20262022 2023 20252024 Q2 2026 • Sales of 18,117 MSEK (16,819) • 7.7% growth • 5.9% organic growth • 3.9% structure • -2.1% currency YTD 2026 • Sales of 34,036 MSEK (33,284) • 2.3% growth • 3.8% organic growth • 3.8% structure • -5.4% currency
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Classified by Alfa Laval as: Business Key figures SEK million Q2 2026 Q2 2025 YTD 2026 YTD 2025 Sales 18,117 16,819 34,036 33,284 Adjusted gross profit 6,753 6,441 13,104 12,614 Sales & Admin -2,884 -2,696 -5,578 -5,300 R&D -476 -401 -920 -828 Net other cost/income -288 -309 -606 -525 Amortization of step-up values -176 -120 -350 -236 Operating income 2,895 2,881 5,608 5,681 Financial net -169 -172 -329 -315 Result after financial items 2,726 2,709 5,279 5,366 Taxes -686 -684 -1,323 -1,338 EPS 4.91 4.87 9.50 9.69 13
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Classified by Alfa Laval as: Business Profitability 14 Margin % 10,0 12,0 14,0 16,0 18,0 20,0 1 000 1 500 2 000 2 500 3 000 3 500 20262022 2023 20252024 Adj EBITA margin Adj EBITA per quarter SEK million Q2 2026 • Adj EBITA of 3,071 MSEK (3,001) • Margin of 17.0% (17.8%) • Somewhat lower margin in the Energy Division. • Organic sales growth and strong mix in Ocean Division supported profit and margin. • Positive FX impact of 209 MSEK. • One-off costs of around 75 MSEK related to the operating model implementation. Q2 2026
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Classified by Alfa Laval as: Business Debt position SEK million Q2 2026 15 Q2 2026 Q2 2025 Debt 17,507 14,283 Debt/EBITDA LTM 1,21 1.06 Cash & cash equivalents and current deposits -4,977 -9,640 Net Debt excl leases 12,530 4,643 Net Debt excl leases/EBITDA LTM 0.87 0.34 Lease liabilities 3,484 3,426 Net Debt incl leases 16,013 8,069 Net Debt incl leases/EBITDA LTM 1.11 0.60 Maturity profile and liquidity buffer • Loans maturing 2026-2031: 17,399 MSEK • Average funding rate on our debt is 2.49% per annum 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000 RCF Cash 2026 2027 2028 2029 2030 2031 Liquidity buffer Debt maturity
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Classified by Alfa Laval as: Business Cash-flow statement SEK million Q2 2026 Q2 2025 YTD 2026 YTD 2025 EBITDA 3,724 3,495 7,397 7,096 Working Capital -268 -711 -1,757 -2,093 Taxes paid -1,043 -625 -1,990 -1,439 Cash flow from operating activities 2,413 2,159 3,650 3,564 Capital expenditures -1,012 -676 -1,541 -1,310 Free cash flow 1,401 1,483 2,109 2,254 Divestments 14 2 33 6 Acquisitions - -461 -565 -529 Cash flow after investing activities 1,415 1,024 1,577 1,731 Financing activities -1,881 801 -4,225 551 Cash flow -466 1,825 -2,648 2,282 Q2 2026 16
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Classified by Alfa Laval as: Business Guidance Q3 2026 FY 2026 CAPEX Estimated ~0.6-0.8 BSEK Estimated 2.5 - 3.0 BSEK PPA amortization ~170 MSEK ~680 MSEK Tax rate 24–26% 24–26% Q2 2026 17
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“We expect demand in the third quarter to be somewhat lower compared to the second quarter.” Outlook for the third quarter: Q2 2026 18
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Classified by Alfa Laval as: Business Financial reporting calendar 2026 Q2 2026 19 Interim report Q3 Interim report Q4 27 October 2026 2 February 2027 Q&A
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Classified by Alfa Laval as: Business 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 forward-looking 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. Q2 2026 20