Bufab Ab · OMXSTO:BUFAB
Bufab Ab — Q2 2014 Earnings Presentation
20 slides from Bufab Ab's earnings presentation, Aug 13, 2014
Slide 1: Q2 2014 Presentation
Q2 2014 Presentation Värnamo, August 13, 2014
Slide 2: Who we are
Second quarter Who we are Bufab is a leading Supply Chain Partner. We provide C-Parts, covering everything from traditional fasteners to complicated processed and assembled components in different materials, and services to the industry worldwide, providing solutions in manufacturing, quality, sourc
Slide 3: Bufab Group
Second quarter Bufab Group Established Approx 2 000 in 1977 MSEK in turnover Around 800 Headquarters in 120 000 employees Värnamo, Sweden articles 30 wholly owned Listed on the 12 000 In-house subsidiaries in stock exchange customers production 23 countries 3
Slide 4: Volume vs. value
Second quarter Volume vs. value 4
Slide 5: Global Parts Productivity™
Second quarter Global Parts Productivity™ Global Over Supplier 120 000 Network C-Parts Lower total cost Secured quality Reliable delivery Less complexity Focus on core CUSTOMER SATISFACTION In-house Production 5
Slide 6: Bufab's strategy
Second quarter Bufab’s strategy Quality and Customer First! Accelerated organic 2 Improved cost/capital Value-adding Growth Efficiency Acquisitions 6
Slide 7: Financial targets
Second quarter Financial targets 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 acquisition
Slide 8: Financial highlights, Group
Second quarter Financial highlights, Group Quarter 2 Δ Jan-Jun Δ LTM Δ SEK millions 2014 2013 % 2014 2013 % 2013/14 2013 % Order intake 565 530 6.5 1,128 1,050 7.4 2,150 2,072 3.7 Net sales 579 534 8.4 1,131 1,029 9.9 2,132 2,031 5.0 Gross margin, % 30.5 30.3 30.0 29.5 29.6 29.3 Adjusted operating p
Slide 9: Financial development, Group
Second quarter Financial development, Group Quarterly year-on-year net sales growth, %* 2500 15 15 10 2000 12 10 LTM Net sales, SEK millions 6 6 1500 9 5 4 Margin, % 1000 6 0 -1 500 3 -5 -6 -6 -6 -8 0 0 -10 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2012 2012 2012 2013 2013 2013 2013 2014
Slide 10: Segment Sweden
Second quarter Segment Sweden Quarter 2 Δ Jan-Jun Δ LTM Δ SEK millions 2014 2013 % 2014 2013 % 2013/14 2013 % Order intake* 255 257 -0.7 523 520 0.6 1,001 998 0.3 Net sales* 269 263 2.5 532 509 4.5 993 970 2.4 Adjusted operating profit 47 42 11.7 87 72 21.8 159 143 10.9 Adjusted operating margin, %
Slide 11: Financial development, segment Sweden
Second quarter Financial development, segment Sweden Quarterly year-on-year net sales growth, % 2000 20 15 10 1500 15 LTM Net sales, SEK millions 6 5 Margin, % 3 1000 10 2 0 -2 500 5 -5 -3 -6 -7 -6 -9 0 0 -10 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2012 2012 2012 2013 2013 2013 2013 20
Slide 12: Segment International
Second quarter Segment International Quarter 2 Δ Jan-Jun Δ LTM Δ SEK millions 2014 2013 % 2014 2013 % 2013/14 2013 % Order intake* 310 273 13,4 605 530 14.1 1,149 1,074 6.9 Net sales* 310 271 14,1 599 520 15.1 1,140 1,061 7.4 Adjusted operating profit 23 23 -2,4 40 38 5.5 85 83 2.5 Adjusted operatin
Slide 13: Financial development, segment International
Second quarter Financial development, segment International Quarterly year-on-year net sales growth, %* 2000 20,0 15 14 13 10 10 1500 15,0 LTM Net sales, SEK millions 6 5 5 Margin, % 1000 10,0 0 500 5,0 -5 -5 -6 -7 -8 0 0,0 -10 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2012 2012 2012 201
Slide 14: Net working capital
Second quarter Net working capital 1000 45,0% 800 40,0% As of % of net sales 600 SEK millions 35,0% 400 30,0% 200 0 25,0% Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Net Working Capital Average of NWC as a % of NS LTM 14
Slide 15: Summary Q2 2014
Second quarter Summary Q2 2014 Continued good growth – Highest quarterly sales ever – Increased market shares – Underlying demand increased Higher operating profit – Improved by; Higher Sales Improved efficiency – Lowered by; Higher selling cost Improved Profit after tax and EPS Uncertain demand out
Slide 16: BACK UP
BACK UP 16
Slide 17: Consolidated income statement
Second quarter Consolidated income statement Quarter 2 Jan–Jun SEK millions 2014 2013 2014 2013 Net sales 579 534 1,131 1,029 Cost of goods sold -402 -372 -791 -725 Gross profit 177 162 339 304 Distribution costs -86 -76 -168 -147 Administrative expenses -34 -33 -82 -62 Other operating income 8 10 1
Slide 18: Consolidated balance sheet
Second quarter Consolidated balance sheet 30-jun-14 30-jun-13 31-dec-13 SEK millions ASSETS Non-current assets Intangible assets 744 740 739 Property, land and equipment 146 135 145 Financial assets 24 25 25 Total non-current assets 914 900 909 Current assets Inventories 657 575 626 Current receivab
Slide 19: Key figures
Second quarter Key figures Quarter 2 Δ Jan-Jun Δ 2014 2013 % 2014 2013 % Order intake, SEK million 565 530 6.5 1,128 1,050 7.4 Net sales, SEK million 579 534 8.4 1,131 1,029 9.9 Gross profit, SEK million 177 162 9.3 339 304 11.7 Adjusted EBITDA, SEK million 68 65 3.5 127 114 11.7 Operating profit, S
Slide 20: Shareholders
Second quarter Shareholders June 30, 2014 Share of Number of capital and Shareholders shares votes, % Geographical distribution Bufab S.à.r.l 7,627,620 20.0 Lannebo Fonder 3,100,000 8.1 Sweden, 34% Invesco Funds 1,922,826 5.0 Other Nordic, 5% Carnegie Fonder 1,683,035 4.4 Other Europe, Handelsbanken