Bufab Ab · OMXSTO:BUFAB
Bufab Ab — FY2014 Earnings Presentation
14 slides from Bufab Ab's earnings presentation, Feb 20, 2015
Slide 1: Year-end 2014 Presentation
Year-end 2014 Presentation Värnamo, February 20, 2015
Slide 2: Bufab Group
Fourth quarter Bufab Group Established Approx 2 200 MSEK in 1977 in turnover Around 800 Headquarters in 120 000 employees Värnamo, Sweden articles 30 wholly owned Listed on the 12 000 In-house subsidiaries in stock exchange customers production 23 countries 2
Slide 3: Volume vs. value
Fourth quarter Volume vs. value 3
Slide 4: Bufab's Strategy
Fourth quarter Bufab´s Strategy Quality and Customer First! Accelerated organic 2 Improved cost/capital Value-adding Growth Efficiency Acquisitions • New Business Growth - • Consolidate Sourcing • Good Base Performance Customer Value Creation • Growth Synergies • Logistics Productivity • Products •
Slide 5: Financial targets
Fourth quarter Financial targets Sales growth Bufab’s goal is to achieve average annual organic growth over a business cycle exceeding the growth of the manufacturing +3 ppt industry in countries where Bufab is active by three percentage points. In addition, Bufab intends to grow through acquisition
Slide 6: Summary 2014
Fourth quarter Summary 2014 Growth strategy proven, but need better leverage – Second highest sales ever… – ..despite weak underlying demand, especially in second half and in Sweden – Excellent market shares gain in International - now 57% of sales – However, investments in sales organization puts p
Slide 7: Financial highlights, Group
Fourth quarter Financial highlights, Group Quarter 4 Δ Jan-Dec Δ SEK millions 2014 2013 % 2014 2013 % Order intake 533 519 2.7 2,195 2,072 5.9 Net sales 532 512 4.0 2,198 2,031 8.3 Gross margin, % 28.1 30.3 29.2 29.3 Adjusted operating profit* 33 55 -40.2 192 203 -5.3 Adjusted operating margin, % 6.
Slide 8: LTM Net sales development, Group
Fourth quarter Financial development, Group Quarterly year-on-year net sales growth, %* 2500 250 15 10 2000 200 10 8 LTM Net sales, SEK millions 6 6 1500 150 5 4 MSEK 2 1000 100 0 -1 500 50 -5 -6 -8 0 0 -10 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2012 2013 2013 2013 2013 2014 2014 2014
Slide 9: Segment Sweden
Fourth quarter Segment Sweden Quarter 4 Δ Jan-Dec Δ SEK millions 2014 2013 % 2014 2013 % Order intake* 232 241 -3.7 968 998 -3.0 Net sales* 229 243 -5.6 982 970 1.2 Adjusted operating profit 27 40 -33.9 144 143 0.2 Adjusted operating margin, % 11.7 16.7 14.6 14.8 *Pertains to net sales and order int
Slide 10: LTM Net sales development, segment Sweden
Fourth quarter Financial development, segment Sweden Quarterly year-on-year net sales growth, % 2000 200 15 10 1500 150 LTM Net sales, SEK millions 6 5 3 MSEK 1000 100 2 1 0 -2 500 50 -5 -6 -6 -7 -9 0 0 -10 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2012 2013 2013 2013 2013 2014 2014 2014
Slide 11: Segment International
Fourth quarter Segment International Quarter 4 Δ Jan-Dec Δ SEK millions 2014 2013 % 2014 2013 % Order intake* 301 277 8.6 1,227 1,074 14.3 Net sales* 303 269 12.7 1,217 1,061 14.7 Adjusted operating profit 12 19 -36.0 75 83 -10.0 Adjusted operating margin, % 4.0 7.0 6.2 7.8 *Pertains to net sales an
Slide 12: LTM Net sales development, segment International
Fourth quarter Financial development, segment International Quarterly year-on-year net sales growth, %* 2000 200,0 15 14 14 13 10 10 8 1500 150,0 LTM Net sales, SEK millions 6 5 5 MSEK 1000 100,0 0 500 50,0 -5 -5 -7 0 0,0 -10 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2012 2013 2013 2013
Slide 13: Net working capital
Fourth quarter Net working capital 1000 50,0% 800 45,0% As of % of net sales 600 40,0% SEK millions 400 35,0% 200 30,0% 0 25,0% Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Net Working Capital As of % of net sales 13
Slide 14: Challenges faced toward end 2014 and focus areas for 2015
Fourth quarter Challenges faced toward end 2014 - and focus areas for 2015 Challenges Focus areas • Implementing new cost savings package of 15 MSEK yearly, full Weak demand, effect from Q3: especially Sweden Merger two subsidiaries, streamlining backoffice, staff reduction one manufacturing subsidi