Bufab Ab · OMXSTO:BUFAB

Bufab Ab — Q1 2015 Earnings Presentation

15 slides from Bufab Ab's earnings presentation, Apr 28, 2015

  1. Slide 1: First quarter 2015 Presentation

    First quarter 2015 Presentation

  2. Slide 2: Bufab at a glance

    FIRST QUARTER Established Approximately in 1977 2 400 MSEK Around 850 Headquarters in 120 000 employees Värnamo, Sweden articles 30 wholly owned Listed on 12 000 In-house subsidiaries in Nasdaq Stockholm customers production 23 countries 1

  3. Slide 3: Volume vs. Value

    FIRST QUARTER VOLUME VS. VALUE Vale | Tae Vie Number of items A-Parts B-Parts C-Parts A and B-Parts 80% 80% 20% 20% Direct costs. Indirect costs Direct costs. Indirect costs BBUEAB

  4. Slide 4: Quality and Customer First!

    FIRST QUARTER Quality and Customer First! Accelerated organic 2 Improved cost/capital Value-adding Growth Efficiency Acquisitions • New Business Growth - • Consolidate Sourcing • Good Base Performance Customer Value Creation • Growth Synergies • Logistics Productivity • Products • All of Bufab, All

  5. Slide 5: Accelerated organic growth, improved efficiency, value-adding acquisitions

    FIRST QUARTER Sales growth Bufab’s goal is to achieve average annual organic growth over a business cycle exceeding the growth of the manufacturing +3 ppt industry in countries where Bufab is active by three percentage points. In addition, Bufab intends to grow through acquisitions. ACCELERATED Prof

  6. Slide 6: Stable result despite currency pressure

    FIRST QUARTER Stable result despite currency pressure Growth strategy continues to deliver - increased market shares Margins under pressure from currencies primarily in Sweden - actions to offset beginning to show result Good growth in International Acquisition of Flos BV 5

  7. Slide 7: First quarter group financials

    FIRST QUARTER 12 month Quarter 1 Δ rolling Full year Δ SEK millions 2015 2014 % 2014/15 2014 % Order intake 616 563 9 2,248 2,195 2 Net sales 609 552 10 2,255 2,198 3 Gross margin, % 28.0 29.5 28.8 29.2 Adjusted operating profit 49 52 -6 189 192 -2 Adjusted operating margin, % 8.0 9.4 8.4 8.7 Profit

  8. Slide 8: LTM net sales and quarterly organic growth

    FIRST QUARTER Quarterly organic year-on-year net 2500 250 sales growth, %* 15 10 2000 200 10 LTM Net sales, SEK millions 8 6 6 1500 150 5 4 4 MSEK 2 0 1000 100 -1 -5 500 50 -8 -10 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 0 0 2013 2013 2013 2013 2014 2014 2014 2014 2015 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2013 2013 2013 20

  9. Slide 9: First quarter Sweden

    FIRST QUARTER 12 month Quarter 1 Δ rolling Δ SEK millions 2015 2014 % 2014/15 2014 % Order intake 257 268 -4 957 968 -1 Net sales 251 263 -5 969 982 -1 Gross margin,% 28.9 31.9 30.9 31.7 Adjusted operating profit 30 40 -26 133 144 -7 Adjusted operating margin,% 11.9 15.3 13.7 14.6 Net sales Operatin

  10. Slide 10: Sweden LTM net sales and growth

    FIRST QUARTER Quarterly year-on-year net sales growth, % 2000 200 15 10 LTM Net sales, SEK millions 1500 150 6 5 MSEK 3 2 1000 100 1 0 -2 500 50 -5 -5 -6 -6 0 0 -10 -9 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2013 2013 2013 2013 2014 2014 2014 2014 2015 2013 2013 2013 2013 2014 2014 201

  11. Slide 11: First quarter International

    FIRST QUARTER 12 month Quarter 1 Δ rolling Δ SEK millions 2015 2014 % 2014/15 2014 % Order intake 359 295 22 1 291 1 227 5 Net sales 358 289 24 1 286 1 217 6 Gross margin,% 28,0 28,0 28,0 28,0 Adjusted operating profit 27 17 54 84 75 12 Adjusted operating margin,% 7,4 6,0 6,5 6,2 Net sales: strong o

  12. Slide 12: International LTM net sales and organic growth

    FIRST QUARTER Quarterly year-on-year organic net sales growth, %* 2000 200 15 14 14 13 11 10 10 1500 150 LTM Net sales, SEK millions 8 6 5 5 MSEK 1000 100 0 500 50 -5 -7 -10 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2013 2013 2013 2013 2014 2014 2014 2014 2015 2013 2013 2013 2013 201

  13. Slide 13: Net working capital

    FIRST QUARTER 1000 50,0% 800 45,0% As of % of net sales 600 40,0% SEK millions 400 35,0% 200 30,0% 0 25,0% Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Net Working Capital As of % of net sales 12

  14. Slide 14: Adjusted EBIT bridge Q1 2014 to Q1 2015

    FIRST QUARTER Group Sweden International Other Adjusted EBIT Q1 2014 52 40 17 -5 Currency -14 -10 -4 Volume +7 -4 +11 Price/cost/mix & other +5 +4 +2 -1 Acquisition -1 +1 -2 Adjusted EBIT Q1 2015 49 30 27 -8 13

  15. Slide 15: Status and actions going forward

    FIRST QUARTER Area Status Actions/going forward • Some positive signals, but no clear GROWTH improvement underlying demand • Excellent growth in International driven • Aiming to continue market share gains, by increased market shares without sacrificing operational leverage • Insufficient market sha

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