STOCKHOLM: Swedish engineering group Alfa Laval posted fourth quarter core earnings above market expectations on Tuesday but said it expected demand to be somewhat lower in the first quarter.
Alfa said adjusted earnings before interest, tax, amortisation and other items (EBITA) rose to 1.94 billion crowns ($233.4 million) from a year-ago 1.41 billion, versus a mean forecast of 1.75 billion in a Reuters poll of analysts.
Order bookings rose 22 percent, adjusted for currency swings, to 10.5 billion crowns, topping the 9.8 billion seen by analysts. However, re-valuation of the order backlog of acquired Frank Mohn added 1.0 billion to the total.
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