Q1 2018 Presentation 26 April 2018 First quarter Q1 2018 In Brief - - PowerPoint PPT Presentation

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Q1 2018 Presentation 26 April 2018 First quarter Q1 2018 In Brief - - PowerPoint PPT Presentation

Jul 20, 2023 134 likes •277 views

Q1 2018 Presentation 26 April 2018 First quarter Q1 2018 In Brief Strong growth, both organic and acquired Solid organic growth, despite calendar effects. Order intake as sales. o Higher underlying demand, both segments

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SLIDE 1

Q1 2018 Presentation

26 April 2018

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SLIDE 2

First quarter

Q1 2018 In Brief

  • Strong growth, both organic and acquired
  • Solid organic growth, despite calendar effects. Order intake as sales.
  • Higher underlying demand, both segments
  • Market share gains, both segments
  • Fewer working days, appears stronger in Sweden
  • Stable margins, but significant improvement over late 2017
  • Gross margin: currency and prices
  • EBIT margin: growth and gross margin, but also investments in Leadership
  • International in particular shows strong performance all metrics
  • Acquisitions continue to contribute well
  • Good delivery performance despite high pressure
  • Price increases still important in 2018

2

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SLIDE 3
  • Strong growth, both organic and acquired
  • Stable margins, but significant improvement over late 2017
  • Acquisitions continue to contribute well
  • Good delivery performance despite high pressure
  • Price increases still important in 2018

EBITA Q1 2017 91 Currencies +4 Volume +16 Price/cost/mix/other

  • 13

Acquisitions +8 EBITA Q1 2018 106

3

First quarter

Financial highlights, Group

Quarter 1

Δ

12 months rolling Full year SEK million 2018 2017

%

2018/17 2017 Order intake 944 811

16

3,389 3,256 Net sales 945 815

16

3,331 3,201 Gross profit 277 238

16

956 917

% 29.3 29.2 28.7 28.6

Operating expenses

  • 171
  • 147

16

  • 630
  • 606

% 18.1 18.0 18.9 18.9

Operating profit (EBITA) 106 91

16

326 311

% 11.2 11.1 9.8 9.7

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SLIDE 4

First quarter

Financial development, Group

  • 10
  • 5

5 10 15 20

Percent

Quarterly Net Sales growth

Organic growth Acquisitions and currency translation

50 100 150 200 250 300 350 500 1000 1500 2000 2500 3000 3500

LTM Adj EBITA, SEK million LTM Net Sales, SEK millions Net Sales EBITA 4

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SLIDE 5

First quarter

Segment International

  • Net sales grew by 21%, whereof 9% organic
  • Higher underlying demand and increased market share
  • Gross margin higher than last year: currencies, price increases
  • Good growth and leverage drive strong margin and EBITA improvement
  • Acquisitions continue to contribute well

EBITA Q1 2017 55 Currencies +4 Volume +13 Price/cost/mix/other

  • 9

Acquisition +8 EBITA Q1 2018 71

5 Quarter 1

Δ

Rolling 12 months Full year SEK million 2018 2017

%

2018/17 2017 Order intake 647 531

22

2,288 2,172 Net sales 648 536

21

2,256 2,144 Gross profit 192 156

23

660 623

% 29.7 29.2 29.2 29.1

Operating expenses

  • 121
  • 101

20

  • 440
  • 420

% 18.7 18.8 19.9 19.6

Operating profit (EBITA) 71 55

28

219 203

% 11.0 10.3 9.7 9.5

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SLIDE 6

First quarter

Financial development, International

50 100 150 200 250 500 1000 1500 2000 2500

LTM Adj EBITA, SEK million LTM Net Sales, SEK millions

Net Sales EBITA

  • 15
  • 10
  • 5

5 10 15 20 25 30 35

Percent

Quarterly Net Sales growth

Organic growth Acquisitions and currency translation 6

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SLIDE 7
  • Net sales increased by 7%, all organic
  • Higher underlying demand and increased market share
  • Gross margin negatively affected by higher purchasing prices recent

quarters, however…

  • …the margin was higher than in 4Q17 due to implemented price

increases

EBITA Q1 2017 41 Currencies Volume +3 Price/cost/mix/other

  • 2

Acquisition EBITA Q1 2018 42

Segment Sweden

7

First quarter

Quarter 1

Δ

Rolling 12 months Full year SEK million 2018 2017

%

2018/17 2017 Order intake 297 280

6

1,106 1,089 Net sales 297 279

7

1,075 1,057 Gross profit 89 86

3

315 312

% 29.9 30.9 29.3 29.5

Operating expenses

  • 47
  • 45

5

  • 175
  • 173

% 15.8 16.1 16.3 16.4

Operating profit (EBITA) 42 41

2

140 139

% 14.1 14.9 13.0 13.2

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SLIDE 8

First quarter

Financial development, Sweden

  • 15
  • 10
  • 5

5 10 15 20

Percent

Quarterly Net Sales growth

Organic growth Currency translation effects and acquisition

50 100 150 200 500 1000 1500 2000 LTM Adj EBITA, SEK million

LTM Net Sales, SEK millions

Net Sales EBITA

8

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SLIDE 9

First quarter

Acquisitions since 2014

9

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SLIDE 10

NWC as % of Net Sales (12 months rolling)

30 31 32 33 34 35 36 37 38 39 40

Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018

Bufab Group Excluding Apex 10

First quarter

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SLIDE 11

First quarter

EBITA Bridge

11 Group International Sweden Other EBITA Q1 2017 91 55 41

  • 6

Currency +4 +4 Volume +16 +13 +3 Price/cost/mix/other

  • 13
  • 9
  • 2
  • 1

Acquisitions +8 +8 EBITA Q1 2018 106 71 42

  • 7
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SLIDE 12

First quarter

Summary and outlook

Q1 Summary

  • Strong growth; demand - market share - acquisitions
  • Stable gross margin but significant improvement over Q4 due to currency and price

increases

  • Good delivery performance despite high pressure
  • Acquisitions continue to contribute well

Outlook

  • Strong demand and order intake in line with net sales
  • Due to continued raw material price increases in 2017, the ambition is to implement

further price increases in 2018

  • Continued investments in our “Leadership 2020” initiatives

12

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SLIDE 13

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www.bufab.com

Q&A