Bulten Ab · OMXSTO:BULTEN
Bulten Ab — FinnvedenBulten — Shareholder Meeting (2013)
24 slides from Bulten Ab's shareholder meeting presentation, 2013
Slide 1: FinnvedenBulten Corporate Presentation
FINNVEDENBULTEN CORPORATE PRESENTATION JOHAN WESTMAN, PRESIDENT & CEO ANNUAL GENERAL MEETING 2013
Slide 2: FinnvedenBulten Overview
FINNVEDENBULTEN OVERVIEW
Slide 3: FinnvedenBulten develops and manages industrial businesses in metallic materials
3 AGM 2013 | Executive management FinnvedenBulten develops and manages industrial businesses, offering products, technical solutions and systems in metallic materials The Group FinnvedenBulten is structured into two divisions, both with strong positions in their respective customer segments. Divisio
Slide 4: Strong customer base
4 AGM 2013 | Strong customer base Strong customer base and relationships with major light‐ and heavy commercial vehicle OEMs as well as Tier 1 suppliers A SELECTION OF CUSTOMERS OEMs – OEMs – Tier 1 Automotive Suppliers Light Vehicles Heavy Commercial Vehicles and Industrial Customers 4
Slide 5: Advanced product portfolio
5 AGM 2013 | Advanced product portfolio FinnvedenBulten offers an advanced product portfolio with new technology and quality leadership FASTENERS OIL PAN 5 1 Many vehicles contain a 1 Deep‐drawn, total of 1,500‐2,000 stamped sheet metal fasteners supplied 4 with Extremely high by FinnvedenBulten. 2
Slide 6: Strategy
6 AGM 2013 | Strategy FinnvedenBulten’s strategy is to continue the development of Bulten and Finnveden Metal Structures to realise the full potential in both divisions Bulten’s strategy Finnveden Metal Structures’ strategy Organic growth Organic growth – Gain market share in Europe – Capture bu
Slide 7: Division Bulten - strategy
AGM 2013 | Division Bulten ‐ strategy Division Bulten ‐ profitable organic growth built on FSP‐concept, geographical expansion and advanced products Profitable growth COMPETITIVE COST STRUCTURE FSP‐CONCEPT ADVANCED PRODUCTS AND GEOGRAPHIC PROXIMITY 7
Slide 8: Division Bulten - FSP-concept
8 AGM 2013 | Division Bulten ‐ FSP‐concept Full‐service supplier for newly launched engine The contract refers to a new 1.0 litre petrol engine recently launched – awarded “International Engine of the Year 2012” Division Bulten was involved early and has taken part in every step of the engine’s
Slide 9: Division Finnveden Metal Structures - strategy
AGM 2013 | Division Finnveden Metal Structures ‐ strategy Division Finnveden Metal Structures – multi‐material offering, weight reduction and geographical expansion are important growth drivers Profitable growth STRENGTHENED POSITION WITHIN MULTI‐MATERIAL LIGHT WEIGHT TREND GEOGRAPHICAL AND INDUSTRY
Slide 10: Division Finnveden Metal Structures - Streamlining concept
10 AGM 2013 | Division Finnveden Metal Structures ‐ Streamlining concept New concept enhances efficiency in the value chain The first customer is a Tier‐1 supplier in the automotive industry Finnveden Metal Structures’ value proposition – Production of components in our Polish factory – Automate
Slide 11: Improved footprint
11 AGM 2013 | Improved footprint Improved footprint with new establishments in Russia & China ‐ Strong growth opportunities and low‐cost production New establishments SWEDEN Head office RUSSIA Production Development UK Sales/logistics BELGIUM POLAND Assembly GERMANY Trading company CHINA FRANCE ROMA
Slide 12: Emerging markets: expansion into Russia
12 AGM 2013 | Emerging markets FinnvedenBulten expands into the Russian market Division Bulten signed an agreement with GAZ in December 2012, to start a new company in Nizhniy Novgorod Manufacturing at GAZ Group´s plant in Gorky Automobile Plant Supply and development of advanced fastener tech
Slide 13: Emerging markets: expansion in China
13 AGM 2013 | Emerging markets FinnvedenBulten is expanding its presence in the growing Chinese automotive market with an up and running production plant in Beijing already in place JILIN CHINESE AUTOMOTIVE MARKET AND FINNVEDENBULTEN FOOTPRINT FMS JV with BHAP and Amgain FMS JV with BHAP and Amgain
Slide 14: 2012 in short
2012 IN SHORT
Slide 15: 2012 in short
15 AGM 2013 | 2012 in short 2012 in short 2012 became a “start/stop” year with irregular demand and some months with very low volumes – In addition, one of our largest customers had significant production disturbances/stand still in Q4 Bulten – Stable underlying business and well positioned with
Slide 16: 2012 in figures
16 AGM 2013 | 2012 in figures 2012 in figures FULL YEAR COMMENTS Net sales down 3.9%, down 2.0% adjusted for Decreased sales due to over all weaker automotive currency effects market with lowered production among several customers Operating margin 3.4% (6.5) Profit after tax SEK 42 million (
Slide 17: Q1
Q1
Slide 18: Q1 - Group summary
18 AGM 2013 | Q1 – Group summary Group summary FIRST QUARTER COMMENTS Net sales down 12.1%, down Lowered sales due to over all weaker automotive market with lowered 10.0% adjusted for currency production among several customers effects – Signs of stabilization. Improved sequential order intake
Slide 19: Q1 - Sequential growth in order intake
19 AGM 2013 | Q1 – Sequential growth in order intake Sequential growth in order intake 1 000 1000 900 800 800 700 600 600 MSEK 500 400 400 300 200 200 100 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2011 2012 2013 Net sales Order intake
Slide 20: Q1 - Divisions in short
20 AGM 2013 | Q1 – Divisons in short Bulten Finnveden Metal Structures Net sales of SEK 421 million in Q1 Net sales of SEK 290 million in Q1 – down 11.4% (down 8.3% adjusted for currency – Down 13.4 % (down 12.7 % adjusted for currency effects) compared to Q1 2012 effects) compared to Q1 2012
Slide 21: Going forward
GOING FORWARD
Slide 22: Outlook for 2013
22 AGM 2013 | Outlook for 2013 Outlook for 2013 Market estimates: IHS Automotive estimates for Western Europe automotive production show a volume reduction of 5.2% in 2013 compared to 2012 for both LV and HCV production – a somewhat raised forecast compared to last quarter. IHS Automotive indica
Slide 23: Financial objectives
23 AGM 2013 | Financial objectives Financial objectives Q1 Q1 FULL YEAR TARGETS 2013 2012 2012 Actual Actual Actual Sales growth Target to achieve a profitable organic growth in ‐12.1% 1.4% ‐3.9% excess of the market growth on the Company’s respective markets. EBIT margin Target to achieve an EBIT m
Slide 24: Thank you for your attention!
THANK YOU FOR YOUR ATTENTION! FinnvedenBulten develops and manages industrial businesses, offering products, technical solutions and systems in metallic materials. The Group operates as a business partner to international customers in the engineering industry, primarily the automotive industry. Finn