Slide 1: Q4 Report
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T
Slide 2: Q4 Report
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T
Slide 3: Group News
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Group News Erik Lundén President & CEO
Slide 4: Acquisition of VITAL – a leading Italian C-parts distributor
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Acquisition of VITAL – a leading Italian C-parts distributor • Net sales of EUR 48 million in 2023 • Operating profit margin above Bufab’s 2026 profitability target • A platform acquisition. Deepen our presence in southern Europe an
Slide 5: Full year highlights & Q4 result
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Full year highlights & Q4 result Erik Lundén President & CEO
Slide 6: Full year 2024 – another good year for Bufab
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Full year 2024 – another good year for Bufab • Stable result, despite weaker demand - Demonstrating our resilience even in a more challenging market – Total growth was -7.4% and the organic growth was -5.4% – Record-strong gross mar
Slide 7: Fourth quarter highlights
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Fourth quarter highlights 2 500 2 074 2 178 2 000 1 863 1 500 • Continued cautious market demand and large variation across industries 1 000 500 • Organic growth of -1.5%, an improvement over Q3 (-2,6) 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2
Slide 8: Financial Highlights
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Financial Highlights Pär Ihrskog CFO
Slide 9: Continued negative organic growth, however, improvement to previous quarter
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Continued negative organic growth, however, improvement to previous quarter Net Sales by quarter Organic growth 1 943 2 500 -4,1% 2 149 2 142 2 000 1 943 1 880 -1,5% 0,5% 1 863 1 863 1 500 -2,9% 1 000 500 0 Q4-23 Q1-24 Q2-24 Q3-24 Q
Slide 10: Improved gross margin by 0.4 pp driven by our trading business
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Improved gross margin by 0.4 pp driven by our trading business Gross Profit Margin EBITA adjusted and EBITA margin adjusted 400 16 +0,4 12,2% 14 35 12,7% 29,8% 30,6% 29,7% 300 11,8% 12,1% 30 29,3% 29,1% 10,8% 12 25 200 10 20 15 259
Slide 11: High level of operating expenses due to one-offs and currency
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T High level of operating expenses due to one-offs and currency Operating expenses • Higher level of operating expenses Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 when adjusted for revaluation of -400 -388 -376 -376 -25 additional purchase conside
Slide 12: OpEx Bridge Q4-2023 vs Q4 2024
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T OpEx Bridge Q4-2023 vs-Q4 2024 Adjustment Bridge Operating expenses Q4-23 Reason for OpEx increases Q4-24 388 22 -23 376 48 7 14 340 17 Reported Earn Out Adj Adjusted Incr. Inflation Currency Acqusition Cost Reported Obsolesence Sal
Slide 13: Cash flow negatively impacted by investment in inventory
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Cash flow negatively impacted by investment in inventory Cash flow from operating activities, MSEK Cash flow from operating activities, MSEK 1,0 427 450 32 -32 0,9 400 161 0,8 350 -36 321 322 125 0,7 300 0,6 259 250 0,5 200 0,4 125
Slide 14: Net debt increased mainly due to the acquisition of VITAL
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Net debt increased to previous quarter mainly due to the acquisition of VITAL. Net debt/EBITDA was 2.8. Net Debt, MSEK Leverage Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 2,9 2,8 2,8 2,8 2,7 2,7 2,7 2,6 2,4 1 852 Net Fin debt 2 323 2 187 2 212 2
Slide 15: Regional highlights
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Regional highlights Erik Lundén President & CEO
Slide 16: Europe North & East
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Region 1 000 853 800 Europe North & East 750 701 500 • Total growth was -12.4% and organic growth was -0.6% 250 • Continued weak demand in kitchens and bathrooms, while 0 Tilka Trading saw strong demand Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 17: Europe West
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Region 600 Europe West 450 425 429 460 300 • Total growth amounted to 7.1% and the organic growth was -0.1% 150 • The energy industry continued to develop well, 0 especially in Bufab France and Czech Republic, lower Q2 Q3 Q4 Q1 Q2 Q
Slide 18: Americas
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Region 400 Americas 300 300 258 223 200 • Total growth amounted to -13.3% and the organic growth was -11.3% 100 • Continued weak demand in in the mobile home and trailer 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 segment, also the automotiv
Slide 19: UK & Ireland
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Region 450 382 366 364 UK & Ireland 300 • Total growth amounted to -0.5% and the organic 150 growth was -5.1% • Lower market prices in mainly Apex and TIMCO 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 • Gross margin decreased by 3.8 pp mainl
Slide 20: Asia-Pacific
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Region 160 Asia-Pacific 120 113 116 90 80 • Total growth amounted to 29.4% and the organic 40 growth was 27.4% 0 • Strong demand in all companies, led by Kian Soon and Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Bufab Shanghai 2022 2023 2024 N
Slide 21: Summary, Outlook & Priorities
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Summary, Outlook & Priorities Erik Lundén President & CEO
Slide 22: Summary, Outlook & Priorities
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Summary, Outlook & Priorities • Improved gross margin in the quarter but lower results due to one-offs and currency. Acquisition of VITAL • Uncertainty remains, however, indications of improved demand from the general industry • Eff
Slide 23: Q&A
D I S C O V E R I N G T H E N E X T S O L U T I O N Q 4 R E P O R T Q&A