Bufab Ab · OMXSTO:BUFAB
Bufab Ab — Q3 2017 Earnings Presentation
14 slides from Bufab Ab's earnings presentation, Oct 26, 2017
Slide 1: Q3 2017 Presentation
Q3 2017 Presentation 26 October 2017, Värnamo
Slide 2: Q3 2017 In Brief
Third quarter Q3 2017 In Brief • Strong growth and high order intake o A solid organic growth, +6% • Favourable underlying demand • Market share gains • Weaker margins o Lower gross margin, mainly in Sweden • Higher purchasing prices recent quarters, driven by raw material prices • Price increases t
Slide 3: Financial highlights, Group
Third quarter Financial highlights, Group 12-months Quarter 3 Δ Jan-Sep Δ Full year rolling SEK millions 2017 2016 % 2017 2016 % 2016/17 2016 Order intake 749 665 13 2,393 2,143 12 3,137 2,887 Net sales 735 668 10 2,373 2,148 10 3,072 2,847 Gross profit 209 194 8 679 623 9 884 828 Gross margin, % 28
Slide 4: Financial development, Group
Third 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 0
Slide 5: Segment International
Third quarter Segment International 12-months Quarter 3 Δ Jan-Sep Δ Full year Rolling SEK millions 2017 2016 % 2017 2016 % 2016/17 2016 Order intake* 522 450 16 1,604 1,419 13 2,092 1,907 Net sales* 507 449 13 1,584 1,414 12 2,050 1,880 Gross profit 148 131 12 459 413 11 593 547 Gross margin, % 29.2
Slide 6: Financial development, International
Third 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 2500 250 30 25 2000 200 LTM Adj Op Res, SEK million LTM Net sales, SEK millions 20 15 1500 150 Percent 10 5 10
Slide 7: Segment Sweden
Third quarter Segment Sweden Quarter 3 Δ Jan-Sep Δ 12-months Full year Rolling SEK millions 2017 2016 % 2017 2016 % 2016/17 2016 Order intake* 227 215 6 788 724 9 1,044 980 Net sales* 228 219 4 789 735 7 1,022 968 Gross profit 66 66 0 233 221 5 307 295 Gross margin, % 28.9 30.1 29.5 30.0 30.1 30.5 O
Slide 8: Financial development, Sweden
Third 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 50
Slide 9: Acquisitions since 2014
Third quarter Acquisitions since 2014 9
Slide 10: NWC as % of Net Sales (12 months rolling)
Third 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 Q3 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 Bufab Group Excluding Apex 10
Slide 11: EBIT Bridge
Third quarter EBIT Bridge Group International Sweden Other EBIT Q3 2016 66 41 28 -3 Currency +2 +1 +1 0 Volume +13 +10 +3 0 Price/cost/mix/other -18 -10 -6 -2 Acquisitions +5 +1 0 +4 EBIT Q3 2017 68 43 26 -1 11
Slide 12: New financial targets
Third quarter New financial targets • A new ambition established to become a leader in its industry by 2020 • The new targets will result in increased growth and more flexibility for value-creating acquisitions Financial targets Revenue growth 10% - Through organic growth as well as acquisitions Pro
Slide 13: Summary and outlook
Third quarter Summary and outlook • Continued good growth in third quarter o Strong organic growth in both segments o Market share gains and solid underlying demand • …but weaker gross margin: raw materials-driven purchasing prices • Outlook o Risk of further hikes in raw material prices o Work on p
Slide 14: Q&A
Q&A 14 www.bufab.com