Bufab Ab · OMXSTO:BUFAB
Bufab Ab — Q2 2017 Earnings Presentation
13 slides from Bufab Ab's earnings presentation, Jul 19, 2017
Slide 1: Q2 2017 Presentation
Q2 2017 Presentation 19 July 2017 Värnamo
Slide 2: Q2 2017 In Brief
Second quarter Q2 2017 In Brief • Continued organic growth, despite negative calendar effects o Market share gains in both International and Sweden o Underlying demand higher in segment International and significantly higher in Sweden • Unusually high order intake for second quarter • Weaker margins
Slide 3: Financial highlights, Group
Second quarter Financial highlights, Group 12-months Quarter 2 Δ Jan–Jun Δ Full year rolling SEK millions 2017 2016 % 2017 2016 % 2016/17 2016 Order intake 833 739 13 1,644 1,478 11 3,053 2,887 Net sales 823 762 8 1,638 1,480 11 3,004 2,847 Gross profit 232 223 4 471 429 10 870 828 Gross margin, % 2
Slide 4: Financial development, Group
Second quarter Financial development, Group Quarterly Year-on-Year net sales growth L12M Net Sales, MSEK L12M EBIT (adj), MSEK Organic growth Acquisitions and currency translation 20 3500 350 3000 300 15 LTM Adj Op Res, SEK million LTM Net sales, SEK millions 2500 250 10 2000 200 Percent 5 1500 150
Slide 5: Segment International
Second quarter Segment International 12- Full Quarter 2 Δ Jan–Jun Δ months year rolling SEK millions 2017 2016 % 2017 2016 % 2016/17 2016 Order intake* 551 481 14 1,082 969 12 2,020 1,907 Net sales* 541 491 10 1,077 965 12 1,992 1,880 Gross profit 156 144 8 312 282 11 577 547 Gross margin, % 28.8 29
Slide 6: Financial development, International
Second quarter Financial development, International Quarterly Year-on-Year net sales growth Organic growth Acquisitions and currency translation L12M Net Sales, MSEK L12M EBIT (adj), MSEK 35 2000 200 30 25 LTM Adj Op Res, SEK million LTM Net sales, SEK millions 1500 150 20 15 Percent 10 1000 100 5 0
Slide 7: Segment Sweden
Second quarter Segment Sweden 12- Jan–Jun Δ months Full Quarter 2 Δ Rolling year SEK millions 2017 2016 % 2017 2016 % 2016/17 2016 Order intake* 282 258 9 562 509 10 1,033 980 Net sales* 282 272 4 561 515 9 1,013 968 Gross profit/loss 81 82 -1 168 154 9 308 295 Gross margin, % 28.9 30.3 29.9 30.0 30
Slide 8: Financial development, Sweden
Second quarter Financial development, Sweden Quarterly Year-on-Year net sales growth Organic growth Currency translation effects and acquisition L12M Net Sales, MSEK L12M EBIT (adj), MSEK 20 2000 200 15 LTM Net sales, SEK millions 1500 150 LTM Adj Op Res, SEK million 10 5 Percent 1000 100 0 -5 500 5
Slide 9: Acquisitions since 2014
Second quarter Acquisitions since 2014 9
Slide 10: NWC as % of Net Sales (12 months rolling)
Second quarter NWC as % of Net Sales (12 months rolling) 40 39 38 37 36 35 34 33 32 31 30 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 Excluding APEX Bufab Group 10
Slide 11: EBIT Bridge
Second quarter EBIT Bridge Group International Sweden Other EBIT Q2 2016 82 50 40 -8 Currency 0 +1 -1 0 Volume +6 +3 +3 0 Price/cost/mix & other -11 -5 -5 -1 Acquisitions 0 +3 0 -3 EBIT Q2 2017 77 52 37 -12 11
Slide 12: Summary and outlook
Second quarter Summary and outlook • Continued good growth in second quarter despite calendar effects o Organic growth both segments despite negative calendar effects o Good market share gains and higher underlying demand • …but weaker gross margin: raw materials-driven purchasing prices • Outlook o
Slide 13: Q&A
Q&A www.bufab.com