Slide 1: Full Year Report/Interim Report Q4, 2024
Full Year Report/Interim Report Q4, 2024 3 February 2025 Q4/Full Year Report 2024 1
Slide 2: Agenda
Agenda • Introduction of new President & CEO • Bulten in brief • Market development • Full year results • Q4 results • Focus areas 2025 3 February 2025 Q4/Full Year Report 2024 2
Slide 3: Introduction – new President & CEO
Introduction – new President & CEO Axel Berntsson: Previous experience: Extensive experience from global industrial companies with several senior positions at Absolent Air Care Group, ESAB and CPS Color. Also experience from Accenture as management consultant. Other assignments: Chairman of Magström
Slide 4: Bulten in brief
Bulten in brief 5‚807 Net sales 2024 (SEK million) 301 0.9 % Operating earnings Growth (SEK million) 5.2 % 1,905 Operating margin Employees (FTE) • Bulten has a regional organizational structure consisting of three regions: Europe, Asia, and the USA. NET SALES PER GEOGRAPHIC MARKET The map shows the
Slide 5: Forecast for long-term global vehicle production
Forecast for long-term global vehicle production GLOBAL PRODUCTION GROWTH RATE (YEAR-OVER-YEAR) LIGHT VEHICLES HEAVY COMMERCIAL VEHICLES Q3 2024 Q4 2024 Q3 2024 Q4 2024 14% 14% 13,2% 12% 12% 10,3% 10,2% 10% 10% 8,0% 8% 8% 6% 6% 4% 4% 1,6% 2,0% 2,1% 2% 0,9% 2% 1,1% 0% 0% -0,4% -0,1% -2% -2% -4% -4% -
Slide 6: Summary full year
Summary full year • Net sales in line with market development – 5,807 MSEK (5,757) • Satisfying sales volumes even in a more unpredictable automotive market • Improved operating earnings – 301 MSEK (230) and margin 5,2% (4.0) • New regional organizational structure – Europe, Asia and North America –
Slide 7: Summary Q4
Summary Q4 • Commenced establishment of micro screw JV in Vietnam together with ZJK Precision Parts (ZJK) • Extra costs of approximately 55 MSEK has affected operating earnings negatively. This is mainly related to the closure of a logistic center in Poland, start-up costs in Asia and major maintena
Slide 8: Sales volumes
Sales volumes Q4 • Group net sales - a decrease of -6.4% vs the same period previous year Full Year • Group net sales - an increase of 0.9% vs previous year Overall stable sales volumes full year in more volatile market, however weaker volumes in Q4. 3 February 2025 Q4/Full Year Report 2024 8
Slide 9: Change in R12M Dec 2023 to Dec 2024
Change in R12M Dec 2023 to Dec 2024 SEK m Net sales per customer group +50 SEK m 2024-12-31 YTD 6 000 (+0,9%) 5 807 5 757 -30 -29 +142 OEM, heavy vehicles OEM, light vehicles -33 8,9% Other industries outside Automotive 13,1% 5 000 Automotive 16,5% 61,5% suppliers 4 000 Sales R12M OEM OEM Automotive
Slide 10: EBIT level
EBIT level Q4 EBIT level 2024 vs 2023, % EBIT SEK 20 (33) million with an % EBIT margin of 1.4% (2.1) 8 Target 8% Full year 6 5.2% EBIT SEK 301 (230) million with an 2024 4.0% EBIT margin of 5.2% (4.0) 2023 4 Conclusion: 2 EBIT level not in line with Bulten’s strategy target, but is improving 0 4,0%
Slide 11: Earnings per share
Earnings per share Q4 FY 2024 2023 ∆ 2024 2023 ∆ Earnings per share before dilution, SEK 0.03 1.00 -0.97 6.45 4.89 1.56 Adjusted earnings per share before dilution, 0.03 1.00 -0.97 6.45 5.51 0.94 SEK 3 February 2025 Q4/Full Year Report 2024 11
Slide 12: Cash flow and net debt
Cash flow and net debt Q4 FULL YEAR CASH FLOW STATEMENT (MSEK) 2024 2023 2024 2023 Cash flow from operating activities before changes in working capital 65 53 338 244 Cash flow from operating activities including changes in working capital 150 89 319 353 Cash flow from investing activities -72 -27 -
Slide 13: Key indicators
Key indicators 2024 2023 THE GROUP, 12 MONTHS ROLLING RETURN INDICATORS Return on capital employed, % 9.2 8.1 Adjusted return on capital employed, % 9.2 8.5 Return on capital employed, (excluding financial lease) % 10.2 8.7 Adjusted return on capital employed, (excluding financial lease) % 10.2 9.2
Slide 14: Financial guidelines
Financial guidelines FULL YEAR 2024 FULL YEAR 2023 GUIDELINES Average net working capital as % of sales 17.1 17.0 20-25 CAPEX as % of sales 3.5 2.6 2-3 Depreciation as % of sales (without IFRS 2.2 2.1 2-3 16) 3 February 2025 Q4/Full Year Report 2024 14
Slide 15: Strategy – to be updated in 2025
Strategy – to be updated in 2025 STRONG POSITION Enhanced offering, including leadership in FSP concept, geographical proximity to important customers, sustainability and innovation. forefront of innovation and sustainability GROWTH Net sales SEK 5 billion Organic and acquisition growth, inside and
Slide 16: In focus 2025
In focus 2025 • Startup of micro screw business in India and Vietnam • Strategy and targets in place to secure sustainable profit and growth • PROFIT! 3 February 2025 Q4/Full Year Report 2024 16
Slide 17: Questions?
Questions? 3 February 2025 Q4/Full Year Report 2024 17