Bulten Ab · OMXSTO:BULTEN
Bulten Ab — FinnvedenBulten — Shareholder Meeting (2014)
25 slides from Bulten Ab's shareholder meeting presentation, 2014
Slide 1: FinnvedenBulten Corporate Presentation
FINNVEDENBULTEN CORPORATE PRESENTATION JOHAN WESTMAN, PRESIDENT & CEO ANNUAL GENERAL MEETING 2014
Slide 2: FinnvedenBulten Corporate Presentation
FINNVEDENBULTEN CORPORATE PRESENTATION
Slide 3: Executive management and the Group
3 AGM 2014 | Executive management FinnvedenBulten develops and manages industrial businesses, offering products, technical solutions and systems in metallic materials The Group FinnvedenBulten is structured into two divisions, both with strong positions in their respective customer segments. Divisio
Slide 4: Strong customer base
4 AGM 2014 | Strong customer base Strong customer base and relationships with major light‐ and heavy commercial vehicle OEMs as well as Tier 1 suppliers A SELECTION OF CUSTOMERS OEMs – OEMs – Tier 1 Automotive Suppliers Light Vehicles Heavy Commercial Vehicles and Industrial Customers
Slide 5: Advanced product portfolio
5 AGM 2014 | Advanced product portfolio FinnvedenBulten offers an advanced product portfolio with new technology and quality leadership FASTENERS CHASSIS COMPONENT Stamped metal products 5 1 Many vehicles contain a 1 have a wide range in total of 1,500‐2,000 terms of size and fasteners supplied 4 co
Slide 6: Improved footprint
6 AGM 2014 | Improved footprint Improved footprint with strong growth opportunities and low‐cost production SWEDEN Head office RUSSIA Production Development UK Sales/logistics BELGIUM POLAND Assembly GERMANY Trading company CHINA FRANCE ROMANIA EMPLOYEES PRODUCTION AVERAGE WAGE COST PER % OF EMPLOYE
Slide 7: Shareholder information
7 AGM 2014 | Shareholder information Shareholder information COMMENTS FINANCIAL TARGETS AND DIVIDEND POLICY Listed on NASDAQ OMX Stockholm since The Group’s target is to achieve profitable organic growth and to grow 20 May 2011 more strongly than the industry in general The Group’s target is t
Slide 8: Division Bulten - strategy
8 AGM 2014 | Division Bulten ‐ strategy Division Bulten ‐ profitable organic growth built on FSP‐concept, geographical expansion and advanced products FSP‐CONCEPT GEOGRAPHIC PROXIMITY ADVANCED PRODUCTS AND COMPETITIVE COST STRUCTURE ROMANIA RUSSIA USA CHINA Light weight products eg B14 and aluminium
Slide 9: Division Finnveden Metal Structures - strategy
9 AGM 2014 | Division Finnveden Metal Structures ‐ strategy Division Finnveden Metal Structures – multi‐material offering, weight reduction and geographical expansion are important growth drivers STRENGTHENED POSITION GEOGRAPHICAL AND WITHIN MULTI‐MATERIAL LIGHT WEIGHT TREND INDUSTRY EXPANSION Compo
Slide 10: 2013 in short
2013 IN SHORT
Slide 11: 2013 in short
11 AGM 2014 | 2013 in short In 2013 FinnvedenBulten increased sales, initiated and implemented essential structural measures and strengthened its operating earnings Cautious start to 2013, but demand picked up and by the end of the year we were reporting record‐high order bookings Strengthened p
Slide 12: Division Bulten
12 AGM 2014 | Division Bulten Bulten has outperformed the growth of vehicle production in Western Europe ‐ new contracts strengthen this trend even more FSP (Full Service Provider) contract for Bulten’s sales development vs. market development (adj. for currency), index year 2009 supply of fastene
Slide 13: Division Finnveden Metal Structures
13 AGM 2014 | Division Finnveden Metal Structures Successful restructuring of the foundry operation in Finnveden Metal Structures The restructuring was initiated in Q2, 2013 and has been finalized in Q1, 2014 with good results All magnesium casting is now consolidated to the division’s foundry i
Slide 14: Q1 report
Q1 REPORT
Slide 15: Group summary
15 AGM 2014 | Q1 report Group summary FIRST QUARTER COMMENTS Net sales up 28.1%, up 24.6% Positive trend in sales and orders continued into the first quarter adjusted for currency effects – Improved deliveries visible in both divisions Adj. operating margin 5.1% (2.7) – The startup of the firs
Slide 16: Improved sales and strong order bookings
AGM 2014 | Q1 report Improved sales and strong order bookings with division Bulten as the main driver 1 000 800 600 MSEK 400 200 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2011 2012 2013 2014 Net sales Order intake 16
Slide 17: Division Bulten
17 AGM 2014 | Q1 report Division Bulten Net sales of SEK 581.5 million in Q1 – Up 38.9% compared to Q1 2013 and 33.8% adjusted for currency effects Gaining market share with new significant orders in ramp‐up, Q1 and Q2 – Order intake at SEK 632.0 million – These contracts, together with the init
Slide 18: Bulten's financial effects of new significant contracts
AGM 2014 | Q1 report Bulten’s financial effects of new significant contracts The ramp‐up of the first contract well executed in Q1 and running according to plan The second contract will be executed in Q2 Top line boost with approximately SEK 500 million per annum when deliveries in full pace,
Slide 19: Division Finnveden Metal Structures
19 AGM 2014 | Q1 report Division Finnveden Metal Structures Net sales of SEK 326.4 million in Q1 – Up 12.4 % compared to Q1 2012, and 11.3% adj. for currency effects Order bookings amounted to SEK 331,8 m (336,1) – Order bookings are negatively affected by the aluminium business has been phased
Slide 20: Reported operating result vs without divested operations
20 AGM 2014 | Division Finnveden Metal Structures Finnveden Metal Structures reported operating result vs without divested operations and restructuring effects 35 30 25 As of Q2 and forward, 17.4 Finnveden Metal 20 Structures does not have the Swedish foundry in its business. 15 30.9 2.7 In Q1,
Slide 21: Going forward
GOING FORWARD
Slide 22: Financial objectives
AGM 2014 | Going forward Financial objectives 12 m Q1 Q1 FULL YEAR rolling TARGETS 2014 2013 Apr 2013‐ 2013 Actual Actual Actual Mar 2014 Sales growth Target to achieve a profitable organic growth in 28.1% ‐12.3% 3.1% excess of the market growth on the Company’s respective markets. Sales growth Targ
Slide 23: Outlook for 2014
23 AGM 2014 | Going forward Outlook for 2014 Market estimates: LMC Automotive forecast for production in Europe 2014 points at LV being up 1.5% and HCV up 0.9%. (Market share increase from new Bulten business on top of the general market development.) LMC Automotive analysis show that production
Slide 24: Evaluation of a split of the Group initiated
24 AGM 2014 | Going forward Evaluation of a split of the Group initiated To establish sharper business focus and clarify the value in each division FinnvedenBulten has initiated an evaluation of a split of the Group during 2014 The aim of the evaluation is to optimize the divisions’ future oppor
Slide 25: Thank you for your attention!
THANK YOU FOR YOUR ATTENTION! FinnvedenBulten develops and manages industrial businesses, offering products, technical solutions and systems in metallic materials. The Group operates as a business partner to international customers in the engineering industry, primarily the automotive industry. Finn