Bulten Ab · OMXSTO:BULTEN

Bulten Ab — Q1 2021 Earnings Presentation

19 slides from Bulten Ab's earnings presentation, Apr 28, 2021

  1. Slide 1: Three Months Report, Jan-Mar 2021

    THREE MONTHS REPORT, JAN‐MAR 2021 28 APRIL 2021, AT 15.30 CET

  2. Slide 2: Three Months Report, Jan-Mar 2021

    Three Months Report, Jan‐Mar 2021  Telephone/audio conference Direct Link Audiocast: 28 April 2021, at 15.30 CET https://tv.streamfabriken.com/bulten‐q1‐2021  Presented by: Call in to teleconference: SE: +46850558357 – Anders Nyström, President and CEO UK: +443333009030 US: +18335268380 – Anna Åke

  3. Slide 3: Agenda

    Agenda 1. Bulten in brief 2. Market development 3. First quarter 2021 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 4.8% GE Mindary MAN UD Trucks 9.8% Foxconn Philips Hitachi Sony Honeywell TE Suppliers Adient Faurecia Autoliv Hoerbiger 14.8% Ai

  5. Slide 5: Strong geographical footprint

    Strong geographical footprint SWEDEN Gothenburg, Arendal, Hallstahammar Production Head office ‐ Gothenburg Sales Development GREAT BRITAIN Pembroke and Scunthorpe USA Streetsboro, Ohio POLAND Bielsko‐Biala LOGISTICS CENTERS CHINA GERMANY In total, approx. 40 logistics RUSSIA TAIWAN Bergkamen Nizhny

  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% 15,6% 35% 15% 30% 10% 6,7% 25% 3,7% 3,4% 5% 20% 0% 15% ‐5% 10% 3,8% 4,7% -5,6% 5% 1,2% ‐10% 0% ‐15% ‐5% -0

  8. Slide 8: 3. First Quarter 2021

    3. First Quarter 2021

  9. Slide 9: Events during Q1 2021

    Events during Q1 2021  The strong momentum from Q4 2020 continued in Q1 and resulted in an all‐time record quarter for Bulten.  Positive margin impact as a result of increased capacity utilization and efficiency initiatives  Grand opening of the new production facility in Taipei, Taiwan in Januar

  10. Slide 10: Sales: Continued strong growth and positive market development

    Sales: Continued strong growth and positive market development  Sales 1,103 MSEK (821), up 34.4% in SEK m Net Sales Q1 vs last year 1200 – Strong growth due to large contract 1000 800 signed in mid 2020 and positive market development 600 400 200 0 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1

  11. Slide 11: Group summary Q1 2021

    Group summary Q1 2021 Q1 LTM FY FINANCIAL SUMMARY APR 20 ‐ 2021 2020 ∆ 2020 ∆ MAR 21 Net sales 1,103 821 34.4% 3,477 3,195 8.8% Gross profit 226 154 72 639 567 72 Earnings before depreciation (EBITDA) 140 83 57 334 277 57 Operating earnings (EBIT) 98 43 55 171 116 55 Operating margin, % 8.9 5.2 3.7

  12. Slide 12: EBIT: Higher volumes affected margins

    EBIT: Higher volumes affected margins  Quarter EBIT SEK 98 million with EBIT Quarter EBIT margin margin rising to 8.9% (5.2) in Q1 9% 8,9% 9,0% – A stable demand with good customer mix 7% – Increased capacity utilization 5% 5,2% 4,9% – Positive outcome of efficiency initiatives 3% – Currency effect

  13. Slide 13: Cash flow, Balance Sheet and Net Debt

    Cash flow, Balance Sheet and Net Debt Q1 FULL YEAR CASH FLOW STATEMENT (MSEK) 2021 2020 2020 Cash flow from operating activities before changes in working capital 115 47 234 Cash flow from operating activities including changes in working capital 93 63 447 Cash flow from investing activities ‐16 ‐71

  14. Slide 14: Key indicators

    Key indicators FULL YEAR FULL YEAR THE GROUP, 12 MONTHS APR 20‐MAR 21 APR 19‐MAR 20 2020 RETURN INDICATORS Return on capital employed, % 7.4 3.9 5.4 Adjusted Return on capital employed, % 7.3 5.9 5.2 Return on capital employed, (excluding financial lease) % 8.3 4.1 5.9 Adjusted Return on capital emp

  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%. 2021‐03‐31 FULL YEAR GUIDE‐ rate (CAGR) of 10%. RTM 2020 LINES . Q1 RTM Q1 RTM RTM 2020 Average net working 23.0 22.4 20‐25 capital

  16. Slide 16: 4. In focus

    4. In focus

  17. Slide 17: In focus 2021

    In focus 2021  Closely monitor current situation in the industry – Pandemic effects – Shortages of microprocessors – Higher steel prices  Maintain strict cost and cash flow control  Continue margin improvement initiatives, including PSM synergies  Accelerate innovation and sustainability activit

  18. Slide 18: Bulten Strategy

    BULTEN STRATEGY Stronger 24 STRONG POSITION Strong offer including sustainability and innovation FSP concept 2.0, 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, econ

  19. Slide 19: Bulten - A stronger solution

    BULTEN ‐ A stronger solution

Bulten — Q1 2021 Earnings Presentation on 6ix