Bufab Ab · OMXSTO:BUFAB
Bufab Ab — Q3 2021 Earnings Presentation
13 slides from Bufab Ab's earnings presentation, Oct 27, 2021
Slide 1: Q3 2021 presentation
Q3 2021 presentation October 27, 2021 Johan Lindqvist, CEO Marcus Söderberg, CFO
Slide 2: Continued strong growth and profitability
Continued strong growth and profitability • Continued strong demand continued in Q3 across all segments – Organic growth up 20%, good underlying demand and improved market share – Weak comparison quarter – No sign of slowdown as yet – instead, order intake continues in excess of sales • Operationall
Slide 3: Financial highlights, Group
Financial highlights, Group 12-months Quarter 3 Δ Jan-Sep Δ Full year rolling SEK million 2021 2020 % 2021 2020 % 2021/20 2020 EBITA Q3 2020 142 Order intake 1,454 1,219 19 4,461 3,528 26 5,760 4,827 Currencies -3 Net sales 1,425 1,181 21 4,279 3,518 22 5,517 4,756 Volume +55 Gross profit 405 320 27
Slide 4: Financial development, Group
Financial development, Group Quarterly Net Sales growth Net sales and EBITA Organic growth Total growth Net Sales EBITA 50 7 500 750 40 6 000 600 30 LTM Net Sales, SEK millions LTM EBITA, SEK million 20 4 500 450 Percent 10 3 000 300 0 ‐10 1 500 150 ‐20 ‐30 0 0 3
Slide 5: Segment North
Segment North Rolling 12 Quarter 3 Δ Jan-Sep Δ Full year months SEK million 2021 2020 % 2021 2020 % 2021/20 2020 Order intake 543 486 12 1,828 1,487 23 2,393 2,052 Net sales 545 470 16 1,753 1,471 19 2,286 2,005 Gross profit 145 110 32 458 341 34 581 465 % 26.7 23.5 26.1 23.2 25.4 23.2 Operating exp
Slide 6: Segment West
Segment West Rolling 12 Quarter 3 Δ Jan-Sep Δ Full year months SEK million 2021 2020 % 2021 2020 % 2021/20 2020 Order intake 316 271 17 959 758 26 1,248 1,047 Net sales 289 251 15 910 754 21 1,183 1,028 Gross profit 70 63 11 229 188 22 298 257 % 24.3 25.0 25.2 24.9 25.2 25.0 Operating expenses -46 -
Slide 7: Segment East
Segment East Rolling 12 Quarter 3 Δ Jan-Sep Δ Full year months SEK million 2021 2020 % 2021 2020 % 2021/20 2020 Order intake 228 188 21 698 542 29 881 725 Net sales 222 187 18 656 538 22 833 715 Gross profit 67 60 12 203 172 18 259 227 % 30.4 32.0 30.9 31.9 31.0 31.8 Operating expenses -33 -26 26 -8
Slide 8: Segment UK/North America
Segment UK/North America Rolling 12 Quarter 3 Δ Jan-Sep Δ Full year months SEK million 2021 2020 % 2021 2020 % 2021/20 2020 Order intake 366 275 33 976 740 32 1,238 1,002 Net sales 369 273 35 960 755 27 1,214 1,008 Gross profit 122 88 38 310 238 30 389 317 % 33.0 32.3 32.2 31.5 32.1 31.4 Operating e
Slide 9: Relatively low cash flow caused by strong organic growth
Relatively low cash flow caused by strong organic growth Operating cash flow and cash conversion Net debt/EBITDA adj, x 250 4,5 4 200 3,5 3 150 2,5 2 100 1,5 50 1 0,5 0 0 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 10: EBITDA Bridge
EBITDA Bridge EBITA Q3 2020 142 Currencies -3 Volume +55 Cost + price/mix/other -12 Acquisitions -18 EBITA Q3 2021 164 EBITA Q3 2020 142 North 5 West 1 East 1 UK/North America 20 Other -5 EBITA Q3 2021 164 9
Slide 11: Consolidator in a fragmented market
Consolidator in a fragmented market +50 acquisitions since 1977 12 acquisitions 700 employees since 2014 2,400 MSEK 10
Slide 12: Summary and Outlook
Summary and Outlook • Third quarter • Operationally challenging quarter, but strong sales and profit. Demand improvement in all segments and increased market share • Continued supply chain disruptions, and increasing component and freight cost • Outlook • Good demand looks to continue in Q4, still s
Slide 13: Q&A
Q&A