Bulten Ab · OMXSTO:BULTEN

Bulten Ab — Investor Day (February 2020)

94 slides from Bulten Ab's investor day presentation, Feb 20, 2020

Slide 1: Bulten's Capital Markets Day
Bulten’s Capital Markets Day STOCKHOLM, 20 FEBRUARY 2020
Slide 2: Bulten's Capital Markets Day agenda
Sustainable Growth Anders Nyström, President and CEO Strong Financial Platform Helena Wennerström, EVP and CFO Bulten’s Capital PSM International Marco Suzuki, CEO PSM International Markets Day BREAK Manufacturing Footprint Fredrik Bäckström, SVP Production Sustainability as a Driving Force 20 Febru
Slide 3: Sustainable Growth
Sustainable Growth Anders Nyström PRESIDENT AND CEO
Slide 4: Bulten was founded in 1873 and is one of the largest fastener suppliers
Bulten was founded in 1873 and has since then developed into one of the largest suppliers of fasteners to the automotive industry. 1873 2020 It has been 147 years since young engineers Today Bulten has a strong position as supplier Nils Petersson and Gottfrid Rystedt saw and partner of sustainable f
Slide 5: Strong customer base and relationships with major vehicle OEMs and Tier 1 suppliers
Strong customer base and relationships with major vehicle OEMs as well as Tier 1 suppliers Heavy Vehicle OEM’s Light vehicle OEM’s Mack Trucks Audi Nissan MAN UD Trucks 13% Avtovaz Opel Renault Volvo BAIC Polestar Scania BMW Porsche 8% Fiat Renault Ford Seat Suppliers Gaz Skoda Geely UAZ Autoliv Nem
Slide 6: Bulten's offer
BULTEN’S OFFER Other types of Services linked to fasteners fasteners Bulten is one of few companies that can PINS ENGINEERING assume total responsibility for all fasteners Core products RIVET DESIGN for an entire platform, vehicle model or RIVET NUTS TESTING factory. METALLIC CLIPS PROCUREMENT With
Slide 7: Core values
CORE VALUES Our way to success we make a difference Professional Innovative Dedicated Empowered BULTEN CMD 2020 7
Slide 8: Strong geographical footprint
Strong geographical footprint SWEDEN Gothenburg, Arendal, Hallstahammar Production Head office ‐ Gothenburg Logistics Sales Development GREAT BRITAIN Scunthorpe, Wolverhampton, Meriden, Halewood USA Hudson, Hagerstown POLAND Bielsko‐Biala, Wilkowice GERMANY AUSTRIA SLOVAKIA ROMANIA RUSSIA CHINA Berg
Slide 9: Bulten 2019
Bulten 2019 Bulten ramp‐up of new contracts Inaugurates new Complete land factory in Tianjin purchase in Poland Anders Nyström new CEO Agreement on Bulten ready acquisition of PSM for growth Q1 Q2 Q3 Q4 Q1 2020 Transfer of China production to Tianjin ‐17 MSEK Strategic initiatives affected comparabi
Slide 10: Bulten in figures 2019
Bulten in figures 2019 NET SALES ADJ EBIT ORDER INTAKE ADJ ROCE 3.1 BSEK 147 MSEK 3.1 BSEK FY 2019 8.1% ‐1.2% vs 2018 4.8% of sales +0.2% vs 2018 784 MSEK 42 MSEK 841 MSEK Q4 2019 +5.0% vs 2018 5.4% of sales +13.6% vs 2018 BULTEN CMD 2020 10
Slide 11: Stronger 24
Stronger 24
Slide 12: Vision and business concept
VISION We create and supply the most innovative and sustainable fastening solutions. BUSINESS CONCEPT • We continuously deliver market leading fastening solutions that meet customer requirements on efficiency, quality, price and sustainability. • With clear objectives, global presence, responsible c
Slide 13: Mission
Mission We draw from Bulten’s close to 150 years of fastener knowledge to deliver, not merely fasteners, but complete solutions. Our experienced and dedicated people help our customers around the globe succeed in everything from product design to production, procurement and service. Our nature is to
Slide 14: Bulten a truly global company
Stronger 24 Bulten a truly global company ADDING PSM BULTEN 2019 • Turnover 0.5 BSEK • EBIT margin ~10% Bulten • Strong position in Asia‐Pacific and US • Turnover 3.1 BSEK • Adj EBIT margin ~5 % Business Potential Stronger 24 • Strong balance sheet • Headroom in market • Strong position in Europe •
Slide 15: New vision and financial targets
Stronger 24 New financial targets New vision and financial targets Growth: 5 BSEK 2024 ‐ CAGR of 10% EBIT: > 8% ROCE: > 15% We create and supply the most Values innovative and sustainable fastening solutions Professional Innovative Dedicated Empowered Strong customer offer Full Service Provider Inno
Slide 16: Investment highlights
Stronger 24 Investment highlights 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 s
Slide 17: Strong Financial Platform
Strong Financial Platform Helena Wennerström EXECUTIVE VICE PRESIDENT AND CFO
Slide 18: Financial platform
Financial platform  Financial targets – 2019 – outcome – 2020 – New financial targets  Strong organic growth – LMC forecast a global market decrease of 0.1% for 2020 weighted for Bulten´s We have a strong financial exposure platform and a position to  Strong financial platform – Financial leverag
Slide 19: Volumes, strategic initiatives and inventory adjustments affected 2019
Volumes, strategic initiatives and inventory adjustments affected the outcome of 2019 Growth Margin ROCE EPS Dividend Profitable organic growth Operating margin of At least 15%. EPS development At least one third of more strongly than the at least 7%. net earnings after industry average. tax. Q4 201
Slide 20: New vision and financial targets
Stronger 24 New financial targets New vision and financial targets Growth: 5 BSEK 2024 ‐ CAGR of 10% EBIT: > 8% ROCE: > 15% We create and supply the most Values innovative and sustainable fastening solutions Professional Innovative Dedicated Empowered Strong customer offer Full Service Provider Inno
Slide 21: LMC Automotive reports for Global production
LMC Automotive reports for Global production G L O B A L P R O D U C T I O N G R O W T H R A T E ( Y E A R O N Y E A R ) G L O B A L P R O D U C T I O N G R O W T H R A T E ( Y E A R O N Y E A R ) LIGHT VEHICLES HEAVY COMMERCIAL VEHICLES (>15T) 5,00% 8,00% Q3 2019 Q4 2019 Q3 2019 Q4 2019 4,00% 6,00%
Slide 22: Short term market view
LIGHT VEHICLES SALES UNITS Short term GLOBALLY 2019 market view 90 million Market uncertainty has continued in Q4 – Brexit – General economic uncertainty LIGHT VEHICLES SALES PER GEOGRAPHY 2019 We maintained our market shares in 2019, going forward we will focus on growing globally New tax regulatio
Slide 23: Ramp up new contracts and uncertain market development
Ramp up new contracts and uncertain market development  Sales up 5.0% in Q4 vs last year (1.6 % currency adjusted)  Order bookings up 13.6% in Q4 vs last year – Ramp up of the new contracts has now started in a higher pace than in Q3 however the uncertain macro situation and Brexit makes the devel
Slide 24: Predicted stronger Bulten organic growth vs the market
Predicted stronger Bulten organic growth vs the market However market uncertainty may have an impact on volumes Existing contracts + Ramp up of new + New signed not yet started + New signed not yet started ‐ Market volatility = Bulten growth & market growth contracts contracts contracts + and model
Slide 25: Grow to a 5 billion company within 5 years
Stronger 24 Grow to a 5 billion company within 5 years 2019 GROWTH CAGR 10% 2024 Net sales Net sales Organic 3.1 growth Acquisitions 5.0 BSEK BSEK Become a truly global company Sustainable growth BULTEN CMD 2020 25
Slide 26: Margin expansion to > 8%
Stronger 24 Margin expansion to > 8 % 2019 MARGIN EXPANSION 2024 Production and Acquisition Adj EBIT distribution synergies EBIT margin efficiency margin 4.8 % Economy of scale Strengthened position in China and US > 8.0 % Technology Financial leverage Sustainable business BULTEN CMD 2020 26
Slide 27: Return on capital employed > 15%
Stronger 24 Return on capital employed > 15 % 2019 STRONG FINANCIAL PLATFORM 2024 Adj Financial Secured ROCE ROCE leverage financing and 8.1 % continued distribution of solid equity/asset > 15.0 % dividends ratio We create great benefit for all our stakeholders Sustainable return on investments BULT
Slide 28: Strong Financial Position – Secured financing
Strong Financial Position – Secured financing GREEN FINANCE • Secured financing • Acquisition • Property in Poland – aiming for green financing • Investment in Growth and efficiency • Strong balance sheet with an equity ratio of 55.2% BULTEN CMD 2020 28
Slide 29: Financial guidelines 2020 and onwards
Financial guidelines 2020 and onwards T H E G R O U P F U L L Y E A R F U L L Y E A R G U I D E L I N E S  Comments for 2019: 2 0 1 9 2 0 1 8  NWC higher than our guidelines Average net working capital – Increased since half year 2019 due to changed 25.5 23.0 20‐25 as % of sales demand, projects a
Slide 30: Investments for continued growth
Investments for continued growth Bulten invests and develops its business at a low risk MSEK Net investments and share of sales Capex as percentage of sales 300 250 Extended facility in Poland incl surface treatment line 200 250‐300 MSEK* 150 Capacity 0‐2%, depending on market development 100 50 250
Slide 31: Ownership structure
Ownership structure 10 LARGEST SHAREHOLDERS – 2020‐01‐31 S H A R E O F N O . O F S H A R E H O L D E R V O T E S A N D S H A R E S C A P I T A L ( % ) 1. Volito AB 4 800 000 22.8 2. Öresund Investment AB 2 900 000 13.8 N O . O F S H A R E H O L D E R S 3. Lannebo fonder 1 848 574 8.8 I N T O T A L 4
Slide 32: Bulten development
Bulten development Group Growth and Structure divestment Consolidation Bulten part of Divestment of Finnveden Executing new FSP contracts, Focus on Growth FinnvedenBulten Metal Structures. Several operation/optimization program, Investments for the Investments for the future and Group. new FSP contr
Slide 34: Bulten + PSM = a stronger solution
Bulten + PSM = a stronger solution  Purchase price USD 24.5 million (SEK 230 million) on cash‐free and debt‐free basis.  Bulten's customer base will broaden in important growth markets in Asia and North America. – PSM's growth potential in Europe is also strengthened by Bulten's strong position in
Slide 35: PSM Highlight
PSM Highlight Overview Key financial highlights • Founded 1931 • 2019 Sales appr. US$ 43 million • 350 employees EBITDA margin of appr. 14% • Production in China, Taiwan and UK • 2018 Sales appr. US$ 42 million – Distribution centers in 22 countries EBITDA margin of appr. 12% Employee breakdown by g
Slide 36: 89 Years Legacy Precision Screw Manufacturing
89 Years Legacy Precision Screw Manufacturing Established in Built first technical Established JVs in Australia, PSM opened manufacturing Willenhall, UK center in Willenhall, UK Italy, Japan and Sweden operations in Wuxi, China 1931 1970 1977 1982 1985 1998 2002 Sales networks in Commenced the first
Slide 37: Global Footprint
Global Footprint North America Europe Asia Manufacturing Sites Technical Centers Sales & Operations China, Taiwan, UK China, Taiwan, UK, US China, Europe, Hong Kong, Taiwan, Singapore, US Joint Ventures Distributors & Partners Australia, Italy, Japan, Sweden North America, U.K., Asia Pacific 37 37 ©
Slide 38: Customer and Application
Customer and Application Automotive Industrials Drive train High end Lawn mower Solar panel Intake EV battery appliance manifold Air bag Window regulator 5G Antenna Electronic Thermo Management Module Headphone Watch Jaguar GM CATL Miele Foxconn Hitachi Toyota Ford Magna Garmin Honeywell Phillips Ho
Slide 42: Production
Production Fredrik Bäckström SVP PRODUCTION
Slide 43: Lean and well positioned logistics and manufacturing footprint
Bulten has a lean and well positioned logistics and manufacturing footprint and flexible supply chain Lean and well positioned logistics and In‐house vs. outsourced production Manufacturing facilities Sales value Sweden ●●●●●● Russia ●●●● Logistics, 2% China ●●●● Great britain ●●● In‐house, 60% ● He
Slide 44: Manufacturing footprint
Manufacturing footprint Nizhny Novgorod Hallstahammar Russia Sweden Capacity: 6 k tons Capacity: 18 k tons Dimension range: M6‐M24 Dimension range: M10‐M30 Bielsko‐Biala Hudson/Ohio Poland USA Capacity: 20 k tons Capacity: > 500 k tons Dimension range: M6‐M22 Dimension range: M5 –M12 Bergkamen Tianj
Slide 45: Manufacturing footprint
Manufacturing footprint Nizhny Novgorod Hallstahammar Russia Sweden Capacity: 6 k tons Capacity: 18 k tons Dimension range: M6‐M24 Dimension range: M10‐M30 Bielsko‐Biala Hudson/Ohio Poland USA Capacity: 20 k tons Capacity: > 500 k tons Dimension range: M6‐M22 Dimension range: M5 –M12 Bergkamen Tianj
Slide 46: Manufacturing synergies Bulten - PSM
Manufacturing synergies Bulten ‐ PSM  Cold forming: Bulten ‐ bolts and PSM – special nuts  Machining  Heat treatment: In‐sourcing or economy of scale  Surface treatment: In‐sourcing or economy of scale  Site footprint – shared facilities and shared resources  Shared raw material suppliers BULT
Slide 47: Production process
Production process 8. Surface treament 1. Engineering 6. Heat treatment 2. Tooling 5. Threading 7. Quality assurance 3. Material 4. Cold forgning 10. Packing 5. Threading 9. Inspection 6. Heat treatment 7. Quality assurance 3. Material 8. Surface treatment 9. Inspection 4. Cold forging 11. Shipping
Slide 48: Bulten Production strategy
Bulten Production strategy DIMENSION Local Local Local Micro Small Type of fastener Market Market Market Fasteners Dimensions M10 – M14 Larger Dimensions. Special threads Special types Standard Hex Standard Torx Parts w Secondary Operations Stainless Steel Internal threads BULTEN CMD 2020 48
Slide 49: Bulten Production strategy
Bulten Production strategy DIMENSION Local Local Local Micro Small Type of fastener Market Market Market Fasteners Dimensions M10 – M14 Larger Dimensions. Special threads Special types Standard Hex Standard Torx Parts w Secondary Operations Stainless Steel Internal threads BULTEN CMD 2020 49
Slide 50: Flexible production by standardization
Flexible production by standardization Germany Poland Russia Sweden BULTEN CMD 2020 50
Slide 51: Preparing for profitable growth
Preparing for profitable growth 51
Slide 52: Highlights Bulten Tianjin
Highlights Bulten Tianjin  Successful move without interruption for customers  9000 m2  Approx. 100 Employees  Equipment: – 18 Coldformers – 21 Threaders, – Heat‐treatment lines – 3 Surface‐treatment lines.  Surface treatment in special environmental zone. BULTEN CMD 2020 52
Slide 53: New plant in Poland
New plant in Poland  Plot purchased in Radziechowy – Wieprz  Plot size: 97 350 m2  Planned facility phase one, size: 25 000 m2 – Future foot‐print for expansion  In‐sourcing of surface treatment – Improved cost structure – Reduced lead‐time – Secure capacity  Contingency in heat‐treatment  Mov
Slide 54: Margin expansion
Margin expansion
Slide 55: Margin expansion
Margin expansion  Production consolidation – FSP ”Time to Market Manufacturing / sourcing efficiency  Insourcing of high margin operations – E.g. New Polish plant: Surface treatment  Distribution Network Efficiency  Localization of production – Plants in China and US lowers logistics and trade c
Slide 56: Sustainable Operations
Sustainable Operations
Slide 57: Solar Panels Poland
Solar Panels Poland  100 000 kWh yearly production – 80 ton annual reduction CO2 as a first step BULTEN CMD 2020 57
Slide 58: Energy and CO2 reduction in Hallstahammar
Sustainability Energy and CO2 reduction in Hallstahammar CO2‐index 100 100 80 55 60 40 14 9 20 7 0 2015 2016 2017 2018 2019 2016 2017 2018 2019 2020 Green electricity. Self supported heating Recycled energy from Replacement of outdated Conversion from (CO2 free). surface treatment. heat‐treatment li
Slide 59: Energy and CO2 reduction in Bergkamen
Sustainability Energy and CO2 reduction in Bergkamen CO2‐index 100 100 81 80 66 60 40 20 0 2015 2018 2019 2016 2017 2018 2019 2020 New wash Better power mix. Installation Coating New air compressor. Replacement of old machines with Line. heat exchanger. heat recovery. Ventilation system in heat trea
Slide 60: Sustainability as a Driving Force
Sustainability as a Driving Force Marlene Dybeck SVP HR AND SUSTAINABILITY
Slide 61: Stakeholders of Bulten
Global trends Legislation Employees and their representatives Stakeholders Governments, of Bulten legislators, authorities Customers Local Business Partners communities Owners, investors, analysts Legislation Global trends 61
Slide 62: Key drivers for our customers
Key drivers for our customers Paris agreement and Life cycle carbon neutrality. This has resulted in new strategies from our customers CO2 matters over the entire life cycle P R O D U C T I O N U S E P H A S E E N D ‐ O F ‐ L I F E What makes up a new car’s total carbon Supply chain Production Fuel/
Slide 63: Bulten aim to be #1 in sustainable development
Stronger 24 Bulten aim to be #1 in Sustainable development in our business Corporate governance and business ethics Responsible and Sustainable own Sustainable sustainable supply chain operations product offer Diversity & inclusion 63
Slide 64: Recognition by third party EcoVadis
Recognition by third party EcoVadis 64
Slide 65: We are ahead of the game
We are ahead of the game IN BULTEN WE HAVE THE: To leverage a sustainable and profitable customer offer and become a leader in global growth and Values and the creativity prosperity in our business. It is about: • developing new products and services • manufacturing approaches Technology and the • r
Slide 66: BUFOe – A Sustainable Product Line
BUFOe – A Sustainable Product Line Philip Lejon VP TECHNOLOGY
Slide 67: What is the carbon foot print of a bolt?
What is the carbon foot print of a bolt? BULTEN CMD 2020 67
Slide 68: Energy consumption and carbon emissions in an average European bolt
ECO‐EFFICENY We have mapped the energy consumption and carbon emissions in an average European bolt production. Energy consumption in bolt production Billet to bolt CO2e split* 6% 13% 12% 10% 10% Wire Cold forging 5% Cold forging Heat treatment 10% 10% Heat treatment Surface treatment 17% Surface tr
Slide 69: Introducing BUFOe
Introducing BUFOe 69
Slide 70: BUFOe 30% less CO2e & 50% less energy per bolt
BUFOe 30% less CO2e & 50% less energy per bolt Bulten’s green product line BUFOe BULTEN CMD 2020 70
Slide 71: How does it work?
How does it work? 71
Slide 72: BUFOe – High strength, no heat treatment
BUFOe – High strength, no heat treatment Innovative combination of advanced material and cold forging Bolt strength Required strength Normal Process BUFOe Process Production process Material cold forging heat treatment BULTEN CMD 2020 72
Slide 73: BUFOe other benefits
BUFOe 30% less CO2e & 50% less energy per bolt Other benefits Less CAPEX Increased Capacity Reduced Lead time Improved Quality BULTEN CMD 2020 73
Slide 74: BUFOe officially released
BUFOe 30% less CO2e & 50% less energy per bolt Officially released to you and our customers now BULTEN CMD 2020 74
Slide 75: Is 30% enough? What else can we do?
Is 30% enough? What else can we do? 75
Slide 76: Eco Efficiency – Optimized Production
Eco Efficiency – Optimized Production A part of FSP Potential to reduce CO2e1 emissions >50%2 CO2e split 10% 10% 30% 25% 10% 5% 10% Dear Customer, please make your choices: Standard Optimized Optimized 1. Wire rod type Average 2. Cold forging 3. Heat treatment 0 20 40 60 80 100 4. Surface treatment
Slide 77: Full Service Provider
Full Service Provider ENGINEERING MANUFACTURING PROCUREMENT LOGISTICS E C O ‐ E F F I C I E N T S O L U T I O N S Q U A L I T Y B U L T E N C U L T U R E BULTEN CMD 2020 77
Slide 78: Stronger Sustainable Offer, FSP 2.0
Stronger Sustainable Offer, FSP 2.0 Magnus Carlunger SVP SALES AND MARKETING
Slide 79: Full Service Provider
Full Service Provider ENGINEERING MANUFACTURING PROCUREMENT LOGISTICS E C O ‐ E F F I C I E N T S O L U T I O N S Q U A L I T Y B U L T E N C U L T U R E BULTEN CMD 2020 79
Slide 80: Supplier: one point of contact
Supplier From complex and time consuming to one point One point of contact of contact B U LT E N Full Service Provider BULTEN CMD 2020 80
Slide 81: Automotive OEM Challenge
FULL SERVICE PROVIDER Automotive OEM Challenge Control and cost efficient complexity 8 000 – 15 000 ≈ 20 ‐ 25% OEM number of assembly Fasteners components BULTEN CMD 2020 81
Slide 82: Time, money and sustainable solutions
Customized solutions in every interaction. Our engineers will: Optimize your fastener solutions. Improve your process. Manage in Time, money and place cost controls. sustainable Fewer external actors at your site. Faster problem solving. solutions Material reduction and geographical proximity means
Slide 83: Time, money and resources are wasted when processes grow out of control
FULL SERVICE PROVIDER Time, money and resources are wasted daily when design and organisational processes grow out of control. The customer got: The customer wants: BULTEN CMD 2020 83
Slide 84: Time, money and resources are wasted when processes grow out of control
FULL SERVICE PROVIDER Time, money and resources are wasted daily when design and organisational processes grow out of control. The customer got: Bulten offers: BULTEN CMD 2020 84
Slide 85: FSP – Based on three pillars
FSP – Based on three pillars Commonalization Simplified Assembly Sustainable solutions Reduction of part number variety Reduction of assembly cost Reduce life cycle emission – More of the same = Win‐Win ‐ In Place Cost – High tech fastener for the future BULTEN CMD 2020 85
Slide 86: Full Service Provider Modules
Full Service Provider Modules BULTEN CMD 2020 86
Slide 87: Value chain that makes a difference
Value chain that makes a difference. ENGINEERING MANUFACTURING PROCUREMENT LOGISTICS + PRODUCT DEVELOPMENT MANUFACTURING PROCUREMENT TRANSPORT PACKAGING AND APPLICATION ENGINEERS ECO‐EFFICIENT WAREHOUSING SOLUTIONS QUALITY BULTEN CULTURE BULTEN CMD 2020 87
Slide 88: Case: Lock-nut reduction
Case: Lock‐nut reduction Take care of the Cents and the Euros will take care of themselves Our on site‐engineers reduced By replacing unnecessary lock A client were using more lock‐ the articles without jeopardizing nuts with standard wheel nuts, nuts than necessary. the Thatcham‐minimum. we saved t
Slide 89: Case: Patch removement
Case: Patch removement 100 k worth of patch A client were fixing the steering By switching to a more column of their car with the optimized bolt, we could The replacement savings added wrong kind of bolt. drastically better the procedure. up to €100.000. INQUIRY SOLUTION RESULT BULTEN CMD 2020 89
Slide 90: Value chain that makes a difference
Value chain that makes a difference ENGINEERING MANUFACTURING PROCUREMENT LOGISTICS ECO‐EFFICIENT • Optimized design • Cold forging – No loss of material • Supply chain committed • Sustainable transport solutions, e.g. to carbon emission SOLUTIONS • Lightweight materials • Secondary operations – Non
Slide 91: Value chain that makes a difference
Value chain that makes a difference. ENGINEERING MANUFACTURING PROCUREMENT LOGISTICS ECO‐EFFICIENT Our solutions can help customers reduce CO2 emissions. Our aim is to boost eco‐efficiency throughout the value chain. SOLUTIONS • Exceeding testing capabilities required by automotive industry • 100% c
Slide 92: Bulten
Bulten We create and supply the most innovative and sustainable fastening solutions. BULTEN CMD 2020 92
Slide 93: Wrap up
Wrap up Anders Nyström PRESIDENT AND CEO
Slide 94: Investment highlights
Stronger 24 Investment highlights 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 s

Bulten — Investor Day (February 2020) on 6ix

Bulten Ab — Investor Day (February 2020)

Slide 1: Bulten's Capital Markets Day

Slide 2: Bulten's Capital Markets Day agenda

Slide 3: Sustainable Growth

Slide 4: Bulten was founded in 1873 and is one of the largest fastener suppliers

Slide 5: Strong customer base and relationships with major vehicle OEMs and Tier 1 suppliers

Slide 6: Bulten's offer

Slide 7: Core values

Slide 8: Strong geographical footprint

Slide 9: Bulten 2019

Slide 10: Bulten in figures 2019

Slide 11: Stronger 24

Slide 12: Vision and business concept

Slide 13: Mission

Slide 14: Bulten a truly global company

Slide 15: New vision and financial targets

Slide 16: Investment highlights

Slide 17: Strong Financial Platform

Slide 18: Financial platform

Slide 19: Volumes, strategic initiatives and inventory adjustments affected 2019

Slide 20: New vision and financial targets

Slide 21: LMC Automotive reports for Global production

Slide 22: Short term market view

Slide 23: Ramp up new contracts and uncertain market development

Slide 24: Predicted stronger Bulten organic growth vs the market

Slide 25: Grow to a 5 billion company within 5 years

Slide 26: Margin expansion to > 8%

Slide 27: Return on capital employed > 15%

Slide 28: Strong Financial Position – Secured financing

Slide 29: Financial guidelines 2020 and onwards

Slide 30: Investments for continued growth

Slide 31: Ownership structure

Slide 32: Bulten development

Slide 33: PSM International Introduction

Slide 34: Bulten + PSM = a stronger solution

Slide 35: PSM Highlight

Slide 36: 89 Years Legacy Precision Screw Manufacturing

Slide 37: Global Footprint

Slide 38: Customer and Application

Slide 39: New Journey

Slide 40: New Journey

Slide 41: Thank You!

Slide 42: Production

Slide 43: Lean and well positioned logistics and manufacturing footprint

Slide 44: Manufacturing footprint

Slide 45: Manufacturing footprint

Slide 46: Manufacturing synergies Bulten - PSM

Slide 47: Production process

Slide 48: Bulten Production strategy

Slide 49: Bulten Production strategy

Slide 50: Flexible production by standardization

Slide 51: Preparing for profitable growth

Slide 52: Highlights Bulten Tianjin

Slide 53: New plant in Poland

Slide 54: Margin expansion

Slide 55: Margin expansion

Slide 56: Sustainable Operations

Slide 57: Solar Panels Poland

Slide 58: Energy and CO2 reduction in Hallstahammar

Slide 59: Energy and CO2 reduction in Bergkamen

Slide 60: Sustainability as a Driving Force

Slide 61: Stakeholders of Bulten

Slide 62: Key drivers for our customers

Slide 63: Bulten aim to be #1 in sustainable development

Slide 64: Recognition by third party EcoVadis

Slide 65: We are ahead of the game

Slide 66: BUFOe – A Sustainable Product Line

Slide 67: What is the carbon foot print of a bolt?

Slide 68: Energy consumption and carbon emissions in an average European bolt

Slide 69: Introducing BUFOe

Slide 70: BUFOe 30% less CO2e & 50% less energy per bolt

Slide 71: How does it work?

Slide 72: BUFOe – High strength, no heat treatment

Slide 73: BUFOe other benefits

Slide 74: BUFOe officially released

Slide 75: Is 30% enough? What else can we do?

Slide 76: Eco Efficiency – Optimized Production

Slide 77: Full Service Provider

Slide 78: Stronger Sustainable Offer, FSP 2.0

Slide 79: Full Service Provider