Swedish manufacturer Alfa Laval (STO: ALFA) reported sales for the third quarter of SEK 9.7 billion (US$1.3 billion), a 30.9 percent increase over the same period a year ago. Profit decreased 15.2 percent to SEK 697 million (US$95.1 million).
For the first nine months, sales for the manufacturer were SEK 24.3 billion (US$3.3 billion), an increase of 14.6 percent compared to the same period in 2013. Profit decreased 5.2 percent to SEK 2.1 billion (US$286.5 million).
"Process technology’s order intake was sequentially unchanged in the third quarter," said Lars Renström, president and CEO. "The demand within oil and gas extraction developed very well, especially in North America. Within marine and diesel, the order intake rose significantly through the acquisition of Frank Mohn AS. However, excluding the acquisition, the effects of a decreased yard contracting are starting to show, while the demand for exhaust gas cleaning systems continued to be good. Equipment saw a limited downturn compared to the record level in the second quarter."