Bulten Ab · OMXSTO:BULTEN

Bulten Ab — FY2020 Earnings Presentation

19 slides from Bulten Ab's earnings presentation, Feb 11, 2021

  1. Slide 1: Twelve Months Report, Jan-Dec 2020

    TWELVE MONTHS REPORT, JAN-DEC 2020 11 FEBRUARY 2021, AT 15.30 CET

  2. Slide 2: Twelve Months Report, Jan-Dec 2020 - conference call details

    TWELVE MONTHS REPORT, JAN‐DEC 2020  Telephone/audio conference 11  Direct Link Audiocast: February 2021, at 15.30 CET https://tv.streamfabriken.com/bulten‐q4‐2020  Presented by: Call in to teleconference: – Anders Nyström, President and CEO SE: +46850558368 UK: +443333009269 – Claes Lundqvist, ac

  3. Slide 3: Agenda

    AGENDA 1. Bulten in brief 2. Market development 3. Fourth quarter 2020 4. In focus 2021

  4. Slide 4: Strong customer base and relationships with major vehicle OEMs as well as Tier 1 suppliers

    Strong customer base and relationships with major vehicle OEMs as well as Tier 1 suppliers Heavy Vehicle OEM’s Other Akcom Jabil AB Volvo Renault Garmin Miele Mack Scania GE Mindary MAN UD Trucks Foxconn Philips 5% Hitachi Sony 10% Honeywell TE Suppliers Autoliv Hoerbiger Aisin Lear Corporation Bosc

  5. Slide 5: Strong geographical footprint

    Strong position STRONG GEOGRAPHICAL FOOTPRINT SWEDEN Gothenburg, Arendal, Hallstahammar Production Head office ‐ Gothenburg Sales Development GREAT BRITAIN Pembroke and Scunthorpe USA Streetsboro, Ohio POLAND Bielsko‐Biala GERMANY RUSSIA CHINA TAIWAN Bergkamen LOGISTICS CENTERS Nizhny Novgorod Tianj

  6. Slide 6: 2. Market Development

    2. MARKET DEVELOPMENT

  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) 20% 17,3% 35% 15% 10% 25% 5,3% 3,8% 5% 15% 0% 4,6% 3,4% 5,1% 5% -0,2% ‐5% -1,0% -5,6% ‐5% ‐10% -3,9% ‐15% -7,0

  8. Slide 8: 3. Fourth Quarter 2020

    2. FOURTH QUARTER 2020

  9. Slide 9: Events during and after Q4 2020

    EVENTS DURING AND AFTER Q4 2020  The improvements in the market in the end of Q3 continued in Q4  Stable demand thanks to a good customer mix, ramp up of new contracts and good development for PSM  Positive margin impact as a result of increased capacity utilization and efficiency initiatives  G

  10. Slide 10: Sales: positive market development and ramp up of new contracts

    SALES: POSITIVE MARKET DEVELOPMENT AND RAMP UP OF NEW CONTRACTS SEK m Quarterly volumes  Order bookings 1,188 MSEK (842), up 1400 41.1% in Q4 vs last year 1,188 – Due to ramp up of new contracts, positive 1200 market development and good development for PSM 1000 – 140 MSEK of order bookings is attr

  11. Slide 11: Group summary Q4 2020

    GROUP SUMMARY Q4 2020 Q4 FY FINANCIAL SUMMARY 2020 2019 ∆ 2020 2019 ∆ Net sales 1,080 784 37.6% 3,195 3,093 3.3% Gross profit 212 149 63 567 543 24 Earnings before depreciation (EBITDA) 132 65 67 277 239 38 Operating earnings (EBIT) 92 27 65 116 98 18 Operating margin, % 8.5 3.5 5.0 3.6 3.2 0.4 Adj,

  12. Slide 12: EBIT: higher volumes affected margins

    EBIT: HIGER VOLUMES AFFECTED MARGINS  Quarter EBIT SEK 92 million with EBIT margin rising to 8.5% (3.5) in Q4, or 8,6% (5,7) adjusted for non‐recurring costs and for currency effects when converting working capital at the closing date rate – A stable demand with good customer mix, increased capacit

  13. Slide 13: Cash flow, balance sheet and net debt

    CASH FLOW, BALANCE SHEET AND NET DEBT Q4 FULL YEAR CASH FLOW STATEMENT (MSEK) 2020 2019 2020 2019 Cash flow from operating activities before changes in working capital 121 34 234 177 Cash flow from operating activities including changes in working capital 176 98 447 207 Cash flow from investing acti

  14. Slide 14: Key indicators

    KEY INDICATORS FULL YEAR THE GROUP, 12 MONTHS 2020 2019 RETURN INDICATORS Return on capital employed, % 5.4 5.5 Adjusted Return on capital employed, % 5.2 8.1 Return on capital employed, (excluding financial lease) % 5.9 5.8 Adjusted Return on capital employed, (excluding financial lease) % 5.8 8.5

  15. Slide 15: 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%. 2020 2019 LINES . Q4 2020 Q4 2020 Q4 2020 Average net working 22.4 25.5 20‐25 capita

  16. Slide 16: 4. In Focus 2021

    4. IN FOCUS 2021

  17. Slide 17: In focus 2021

    IN FOCUS 2021  Closely monitor current situation in the industry – Pandemic effects – Shortages of microprocessors  Maintain strict cost and cash flow control  Be prepared for high demands when market returns to full volumes  Continue margin improvement initiatives, including PSM synergies  Acc

  18. Slide 18: Stronger Bulten strategy

    Stronger 24 Bulten strategy Strong financial Strong position Growth Margin expansion platform FSP concept Organic growth Acquisition synergies Financial leverage continued One of the few players that Leveraging strong position and ramp‐up of existing distribution of dividends offers complete service

  19. Slide 19: Bulten - a stronger solution

    BULTEN ‐ A STRONGER SOLUTION

Bulten — FY2020 Earnings Presentation on 6ix