Bufab Ab · OMXSTO:BUFAB
Bufab Ab — Q2 2015 Earnings Presentation
11 slides from Bufab Ab's earnings presentation, Jul 21, 2015
Slide 1: Second quarter 2015 Presentation
Second quarter 2015 Presentation
Slide 2: Stable result despite currency pressure
SECOND QUARTER Stable result despite currency pressure Growth strategy continues to deliver – good growth and increased market shares Good cash flow Profit in Segment Sweden under pressure, primarily from currencies - actions to offset showing result Good growth and operational leverage in Internati
Slide 3: Second quarter: Group
SECOND QUARTER 12 month Quarter 2 Δ Jan-Jun Δ rolling Full year Δ SEK millions 2015 2014 % 2015 2014 % 2014/15 2014 % Order intake 648 565 15 1,263 1,128 12 2,331 2,195 6 Net sales 661 579 14 1,270 1,131 12 2,338 2,198 6 Gross margin, % 27.4 30.5 27.6 30.0 27.9 29.2 Adjusted operating profit 58 60 -
Slide 4: LTM net sales and organic growth
SECOND 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 4 MSEK 2 0 1000 100 -1 -5 500 50 -10 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 0 0 2013 2013 2013 2014 2014 2014 2014 2015 2015 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2013 2013 2013 20
Slide 5: Second quarter: Segment Sweden
SECOND QUARTER 12 month Quarter 2 Δ Jan-Jun Δ Δ rolling SEK millions 2015 2014 % 2015 2014 % 2014/15 2014 % Order intake 243 255 -5 500 523 -4 944 968 -2 Net sales 262 269 -3 513 532 -4 962 982 -2 Gross margin, % 28.5 33.5 28.7 32.7 29.5 31.7 Adjusted operating profit 35 47 -26 64 87 -26 121 144 -16
Slide 6: Sweden LTM net sales and growth
SECOND 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 -3 -5 -5 -6 -6 -10 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2013 2013 2013 2014 2014 2014 2014 2015 2015 2013 2013 2013 2014 2014 2014 20
Slide 7: Second quarter: Segment International
SECOND QUARTER 12 month Quarter 2 Δ Jan-Jun Δ rolling Δ SEK millions 2015 2014 % 2015 2014 % 2014/15 2014 % Order intake* 405 310 31 764 605 26 1,386 1,227 13 Net sales* 399 310 29 757 599 26 1,375 1,217 13 Gross margin, % 27.4 28.9 27.7 28.5 27.7 28.0 Adjusted operating profit 31 23 39 58 40 45 93
Slide 8: International LTM net sales and organic growth
SECOND QUARTER Quarterly year-on-year organic net sales growth, %* 2000 200 15 14 14 13 11 10 9 10 1500 150 LTM Net sales, SEK millions 8 6 5 5 MSEK 1000 100 0 500 50 -5 -10 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2013 2013 2013 2014 2014 2014 2014 2015 2015 2013 2013 2013 2014 201
Slide 9: Benefit from lower inventory
SECOND QUARTER As of % of net sales 40,0% Benefit from lower inventory levels in Q2 38,0% Long term work in order to improve continues, primarily 36,0% o Inventory management o Payment terms to suppliers 34,0% 32,0% 30,0% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2013 2013 2013 2014 2014 2014 2014 2015 2015 As of
Slide 10: Adjusted EBIT bridge Q2 2014 to Q2 2015
SECOND QUARTER Group Sweden International Other Adjusted EBIT Q2 2014 60 47 23 -10 Currency -16 -11 -5 Volume +4 -4 +8 Price/cost/mix +10 +6 +2 +2 Other -3 -3 Acquisition +3 +3 Adjusted EBIT Q2 2015 58 35 31 -8 10
Slide 11: Demand remains hesitant
SECOND QUARTER Demand remains hesitant Continued market share growth – in line with target Sweden still a challenge primarily caused by currencies Good profit development in International Continued confidence in action plan 11