Alfa Laval continues to invest in growth and accelerates towards net zero
LUND, Sweden, Nov. 21, 2024 /PRNewswire/ -- Today Alfa Laval is hosting its annual Capital Markets Day in San Bonifacio, Italy, at one of the company's heat exchanger production sites. The company is presenting an update on its strategic priorities, financial targets and investment plans to secure continued growth. As part of the investments, Alfa Laval announces plans to effectively reach its scope 1 and 2 net zero targets by 2027, three years ahead of the originally announced target year.
Following years of both organic and inorganic growth at Alfa Laval, coupled with significant investments in expanding production capacity and developing innovative solutions and products for the future, Alfa Laval is today presenting plans to secure further growth through technology and footprint investments. Given the pace of growth in Alfa Laval's key markets, in combination with a strong financial position allowing value accretive inorganic growth opportunities, the current assumption is that Alfa Laval will reach 100 BSEK in annual sales by 2030 at the latest.
"We have seen strong growth across our three divisions and during the past years taken action to expand production capacity in all major geographies. The growing demand emerging from the global energy transition will continue to drive our growth towards 2030. Based on current market trends, we expect to reach 100 BSEK no later than 2030," says Tom Erixon, CEO and President, Alfa Laval.
Net zero in scope 1 and 2 by 2027
As part of the priorities made over recent years, significant investments have been made in implementing robust and ambitious plans to address every aspect possible related to achieving net zero targets for scope 1 and 2. The main part of the plans is to increase energy efficiency and replace fossil fuels with renewable energy in processes across divisions and the company's locations around the world.
"In recent years we have proven that the actions and plans we set in motion to reach our scope 1 and 2 net zero targets in our operations enable us to deliver on our targets faster than expected. Today we are happy to announce that we will further increase our efforts and speed up our investment plans, enabling Alfa Laval to reach net zero for scope 1 and 2 in 2027. We are determined to lead the way and be a frontrunner in showing what is possible going towards net zero," says Emma Adlerton, Executive Vice President, Group Affairs, Alfa Laval.
Alfa Laval's climate targets, validated by the Science Based Targets initiative, were initially to reach net zero for scope 1 and 2 by 2030, and a 50 percent reduction in scope 3 emissions.
Devoted to sustainable growth
Demand is rising for sustainable energy, clean water, food and decarbonized marine transportation. Alfa Laval continuously develops its offering by evolving and expanding its existing technologies and applications, as well exploring emerging technologies. Alfa Laval's growth strategy is deeply rooted and devoted to supporting the global sustainable transformation.
Contacts
Johan Lundin
Head of Investor Relations, Alfa Laval
Mobile: +46 730 46 30 90
johan.lundin@alfalaval.com
Sara Helweg-Larsen
Head of Communication, Alfa Laval
Mobile: +46 730 35 80 98
sara.helweglarsen@alfalaval.com
This is Alfa Laval
The ability to make the most of what we have is more important than ever. Together with our customers, we're innovating the industries that society depends on and creating lasting positive impact. Alfa Laval is a leading global provider of first-rate products in the areas of heat transfer, separation and fluid handling. We're set on helping billions of people to get the energy, food, and clean water they need. And, at the same time, we're decarbonizing the marine fleet that is the backbone of global trade.
We pioneer technologies and solutions that enable our customers to unlock the true potential of resources. As our customers' businesses grow stronger, the goal of a truly sustainable world edges closer. The company is committed to optimizing processes, creating responsible growth, and driving progress to support customers in achieving their business goals and sustainability targets. Together, we're pioneering positive impact.
Alfa Laval was founded 140 years ago, has customers in 100 countries, employs more than 22,000 people, and annual sales were SEK 63.6 billion (5.5 BEUR) in 2023. The company is listed on Nasdaq Stockholm.
About Alfa Laval's scope 1, 2 & 3 targets
The Science Based Targets initiative (SBTi) has validated Alfa Laval's climate targets, ensuring that its climate ambitions are in line with the latest science and will contribute to meeting the 1.5-degree target defined in the Paris Agreement.
Scope 1 and 2 encompass direct and indirect operational emissions from Alfa Laval, and scope 3 includes both upstream and downstream emissions from the company's value chains.
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SOURCE Alfa Laval
