Bulten Ab · OMXSTO:BULTEN

Bulten Ab — FY2021 Earnings Presentation

24 slides from Bulten Ab's earnings presentation, Feb 10, 2022

  1. Slide 1: Full Year, Jan-Dec 2021

    FULL YEAR, JAN-DEC 2021 10 FEBRUARY 2022, AT 15.30 CET

  2. Slide 2: Full Year Report, Jan-Dec 2021

    FULL YEAR REPORT, JAN-DEC 2021  Telephone/audio conference 10  Direct Link Audiocast: February 2022, at 15.30 CET  https://tv.streamfabriken.com/bult en-q4-2021  Presented by: – Anders Nyström, President and CEO – Anna Åkerblad, CFO Call in to teleconference: SE: +46850558369 UK: +443333009030 U

  3. Slide 3: Agenda

    AGENDA 1. Bulten in brief 2. Market development 3. Fourth quarter & full year 2021 4. In focus 2022

  4. Slide 4: Bulten in Brief

    BULTEN IN BRIEF TWELVE MONTHS REPORT, JAN-DEC 2021 4

  5. Slide 5: 2. Market Development

    2. MARKET DEVELOPMENT

  6. Slide 6: LMC Automotive Short-Term Market View

    LMC AUTOMOTIVE SHORT-TERM MARKET VIEW  LMC Automotive summary of global vehicle production, full year 2021: +16.7% Bulten net sales – Production of light vehicles in 2021 up by 2.2% in total YTD – Production of heavy commercial vehicles (>15 t) in 2021 down by 2.9% vs – For Bulten’s mix towards aut

  7. Slide 7: LMC Automotive Long-Term View for Global Production

    LMC AUTOMOTIVE LONG-TERM VIEW FOR GLOBAL PRODUCTION GLOBAL PRODUCTION GROWTH RATE (YEAR ON YEAR) GLOBAL PRODUCTION GROWTH RATE (YEAR ON YEAR) LIGHT VEHICLES HEAVY COMMERCIAL VEHICLES (>15T) 15% 12,5% 35% 8,9% 10% 30% 6,3% 5% 2,2% 25% 0% 20% 13,1% 15% -5% 10% -5,6% -10% 5% 1,0% -15% 0% -15,8% -5% -1,

  8. Slide 8: Semiconductor Shortage – A Global Problem

    SEMICONDUCTOR SHORTAGE – A GLOBAL PROBLEM • Signs indicate the shortage will persist in the coming months, even as the microchip production comes online • According to a study by the U.S. Commerce Department shows that a “significant, persistent mismatch in supply and demand for chips” remains • Man

  9. Slide 9: Raw Material Price Development

    RAW MATERIAL PRICE DEVELOPMENT Steel - wire rod DSV Index indicated an all time high wire rod price level Q4 2021. 1 000 2022 Outlook 900 Price pressure anticipated to impact 800 700 steel prices negatively during the first 600 half of 2022. 500 We expect supply/demand to become 17Q1 17Q3 18Q1 18Q3

  10. Slide 10: 3. Fourth Quarter & Full Year 2021

    2. FOURTH QUARTER & FULL YEAR 2021

  11. Slide 11: Events During and After Q4 2021

    EVENTS DURING AND AFTER Q4 2021  Signed an FSP (Full Service Provider) to a new European vehicle program – Contract value of ~ SEK 100 million annually at full capacity – Clear sustainability objectives  Signed several smaller, but strategically important contracts, with automotive suppliers and h

  12. Slide 12: A Year with Increased Market Share and Sales Record

    A YEAR WITH INCREASED MARKET SHARE AND SALES RECORD Q4 2021 Full year 2021  Third best quarter ever in sales  Best year ever in sales  Strong sales growth in Automotive suppliers  Increased market share within Automotive and other industries outside the Automotive sector  Strategically importan

  13. Slide 13: Third Best Quarter and Best Year Ever

    THIRD BEST QUARTER AND BEST YEAR EVER  Sales in Q4: 953 MSEK (1,080), down -11.7% vs Q4 last year  Sales 2021: 3,730 MSEK (3,195), up 16.7% vs previous year  EBIT margin Q4: 5.0 (8.5)%  EBIT margin 2021: 6.2 (3.6)% TWELVE MONTHS REPORT, JAN-DEC 2021 13

  14. Slide 14: All Customer Groups Contributed to Sales

    ALL CUSTOMER GROUPS CONTRIBUTED TO SALES 3,195 131 70 174 160 3,730 Net sales per customer group (72.3%) (9.7%) (12.8%) (5.2%) Total net sales OEM – OEM – Automotive Industries Total net sales 2021 2020 light vehicles heavy commercial suppliers outside Automotive vehicles TWELVE MONTHS REPORT, JAN-D

  15. Slide 15: EBIT Q4: Lower Margins, EBIT Full Year: Increased Margins

    EBIT Q4: LOWER MARGINS EBIT FULL YEAR: INCREASED MARGINS  Quarter EBIT SEK 48 million with EBIT margin 5.0% (8.5)  Full year EBIT SEK 232 million (116) with EBIT margin 6.2% (3.6) – Fluctuating volumes due to Covid-19, semiconductor shortage and lag in price compensation Quarter EBIT margin Full y

  16. Slide 16: Group Summary Q4 2021

    GROUP SUMMARY Q4 2021 Q4 FY FINANCIAL SUMMARY 2021 2020 ∆ 2021 2020 ∆ Net sales 953 1,080 -11.7% 3,730 3,195 16.7% Gross profit 168 212 -44 710 567 143 Earnings before depreciation (EBITDA) 90 132 -42 400 277 123 Operating earnings (EBIT) 48 92 -44 232 116 116 Operating margin, % 5.0 8.5 -3.5 6.2 3.

  17. Slide 17: Cash Flow, Balance Sheet and Net Debt

    CASH FLOW, BALANCE SHEET AND NET DEBT Q4 FULL YEAR CASH FLOW STATEMENT (MSEK) 2021 2020 2021 2020 Cash flow from operating activities before changes in working capital 72 121 332 234 Cash flow from operating activities including changes in working capital 45 176 48 447 Cash flow from investing activ

  18. Slide 18: Key Indicators

    KEY INDICATORS FULL YEAR THE GROUP, 12 MONTHS 2021 2020 RETURN INDICATORS Return on capital employed, % 9.7 5.4 Adjusted Return on capital employed, % 9.7 5.2 Return on capital employed, (excluding financial lease) % 11.0 5.9 Adjusted Return on capital employed, (excluding financial lease) % 11.0 5.

  19. Slide 19: Financial Targets and Guidelines

    FINANCIAL TARGETS AND GUIDELINES Growth Margin ROCE Net sales SEK 5 billion in Operating At least 15% 2024, equating to a margin of at compound annual growth least 8% FULL YEAR FULL YEAR GUIDE- rate (CAGR) of 10% 2021 2020 LINES . Q4 2021 Q4 2021 Q4 2021 Average net working 20.7 22.4 20-25 capital a

  20. Slide 20: 4. In Focus 2022

    4. IN FOCUS 2022

  21. Slide 21: In focus 2022

    In focus 2022  Continue to closely monitor and adapt to the current situation in the industry – Shortages of semiconductors – Covid-19 – Geopolitical instability  Be prepared for recovery of customer production  Continue margin improvement initiatives in order to offset: – Steel price effects – F

  22. Slide 22: Bulten Strategy

    BULTEN STRATEGY Stronger 24 STRONG POSITION Strong offer including sustainability and innovation FSP concept, geographic proximity, forefront of innovation and sustainability leadership GROWTH Sales SEK 5 B 2024 Organic and Acquisition growth CAGR 10% MARGIN EXPANSION EBIT margin Synergies, economy

  23. Slide 23: Bulten's Capital Markets Day

    Bulten’s Capital Markets Day Date: February 22, 2022 Time: 13:30-16:00 https://tv.streamfabriken.com/bulten-cmd-2022 Save the date and welcome! TWELVE MONTHS REPORT, JAN-DEC 2021 23

  24. Slide 24: Bulten - A Stronger Solution

    BULTEN - A STRONGER SOLUTION

Bulten — FY2021 Earnings Presentation on 6ix