Bufab Ab · OMXSTO:BUFAB

Bufab Ab — Q1 2017 Earnings Presentation

12 slides from Bufab Ab's earnings presentation, Apr 27, 2017

  1. Slide 1: Q1 2017 Presentation

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  2. Slide 2: First Quarter 2017: Continued organic growth, improved profit and margin

    FIRST QUARTER 2017  Continued organic growth, boosted by calendar effects o Significant contribution from positive calendar effects o …but also: o Market share gains in both International and Sweden o Underlying demand improved in Sweden  Improved profit and margin o Improvement in gross and opera

  3. Slide 3: First Quarter 2017 Group financials

    FIRST QUARTER 2017 12-months Quarter 1 Δ Full year rolling SEK millions 2017 2016 % 2016/17 2016 Order intake 811 738 10 2,960 2,887 Net sales 815 718 13 2,944 2,847 Gross profit 238 206 16 860 828 Gross margin, % 29.2 28.6 29.2 29.1 Operating expenses -148 -135 10 -569 -556 Operating profit 90 71 2

  4. Slide 4: Quarterly year-on-year net sales growth and LTM net sales

    FIRST QUARTER 2017 Quarterly Year-on-Year net sales growth Organic growth Acquisitions and currency translation L12M Net Sales, MSEK L12M EBIT (adj), MSEK 20 3000 300 15 2500 250 LTM Adj Op Res, SEK million 10 LTM Net sales, SEK millions 2000 200 Percent 5 1500 150 0 1000 100 -5 500 50 -10 0 0 4

  5. Slide 5: First Quarter 2017: International segment

    FIRST QUARTER 2017 12- Quarter 1 Δ months Full year rolling SEK millions 2017 2016 % 2016/17 2016 Order intake* 531 487 9 1,951 1,907 Net sales* 536 474 13 1,941 1,880 Gross profit 156 138 13 566 547 Gross margin, % 29.2 29.1 29.1 29.1 Operating expenses -101 -91 11 -383 -372 Operating profit 55 47

  6. Slide 6: International: net sales growth and LTM

    FIRST QUARTER 2017 Quarterly Year-on-Year net sales growth Organic growth Acquisitions and currency translation 35 L12M Net Sales, MSEK L12M EBIT (adj), MSEK 30 2000 200 25 20 1500 150 LTM Adj Op Res, SEK million LTM Net sales, SEK millions 15 Percent 10 1000 100 5 0 -5 500 50 -10 -15 0 0 6

  7. Slide 7: First Quarter 2017: Sweden segment

    FIRST QUARTER 2017 12- Quarter 1 Δ months Full year rolling SEK millions 2017 2016 % 2016/17 2016 Order intake* 280 251 12 1,009 980 Net sales* 279 244 14 1,003 968 Gross profit 86 72 19 309 295 Gross margin, % 30.9 29.6 30.8 30.5 Operating expenses -45 -40 12 -170 -165 Operating profit 41 32 29 139

  8. Slide 8: Sweden: net sales growth and LTM

    FIRST QUARTER 2017 Quarterly Year-on-Year net sales growth Organic growth Currency translation effects and acquisition 20 L12M Net Sales, MSEK L12M EBIT (adj), MSEK 2000 200 15 10 1500 150 LTM Adj Op Res, SEK million LTM Net sales, SEK millions 5 Percent 1000 100 0 -5 500 50 -10 -15 0 0 8

  9. Slide 9: Acquisitions since 2014

    FIRST QUARTER 2017 AGQUISITIONS SINCE 2014 = IFLOS afex wasn CREATIVE COMPONENT SOLUTIONS FABRIKEN STAINLESS FASTENERS Member of the Bufab Group

  10. Slide 10: Long-term work to improve operating cash flow

    FIRST QUARTER 2017 40,0% 38,0%  Long-term work in order to improve continues, primarily 36,0% o Inventory management o Payment terms to suppliers 34,0%  Operating cash flow 55 (44) MSEK – higher due to improved EBIT 32,0%  NWC/NS excluding Apex Stainless 30,0% Fasteners: 33.5% (35.1%) Q1 Q2 Q3 Q4

  11. Slide 11: EBIT bridge Q1 2016 to Q1 2017 by segment

    FIRST QUARTER 2017 Group International Sweden Other EBIT Q1 2016 71 47 32 -8 Currency -3 -1 -2 0 Volume +20 +11 +9 0 Price/cost/mix & other -1 -4 +1 +2 Acquisitions +3 +2 +1 0 EBIT Q1 2017 90 55 41 -6 11

  12. Slide 12: Strong first quarter, outlook and strategy

    FIRST QUARTER 2017  Strong first quarter: growth, improved profit and margin – Organic growth both segments—positive calendar effect, market share gains and higher underlying demands in Sweden – Gross margin improved, primarily in Sweden, however lower than Q4 – Some operational leverage  Outlook

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