Q1 2021 Alfa Laval AB Earnings Call Transcript
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Thank you, and welcome to the earnings call. I appreciate you guys have a busy day today, just as we do, in fact. But anyhow, welcome to Alfa Laval's call. A few introductory comments initially.
First, from a macroeconomic point of view, the quarter developed and improved a bit better and a bit faster than we expected a quarter or 2 ago, and that was true across most of the geographies and most of the Alfa Laval end markets. Clearly, this was reflected in Alfa Laval's order intake in the quarter overall. It was stable with a clear sequential growth. And in fact, net of all of the currency effects compared to first quarter last year, in fact, we are a few percent ahead of the pre-pandemic level of Q1 2020. I'll come back with some details on that.
Despite some headwinds, in terms of lower invoicing compared to last year and selected cost increases in various parts of the supply chain, margins strengthened somewhat to 17.1% in the quarter. Clearly, supported by good productivity, by some
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