Q1 2019 Presentation 25 April 2019 First quarter Q1 2019 In Brief - - PowerPoint PPT Presentation

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Q1 2019 Presentation 25 April 2019 First quarter Q1 2019 In Brief - - PowerPoint PPT Presentation

Sep 28, 2022 265 likes •387 views

Q1 2019 Presentation 25 April 2019 First quarter Q1 2019 In Brief Continued healthy growth: +15% o Order intake in line with sales o 6% acquired, 6% organic and 3% currency Increased market share and stable demand o Increased

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SLIDE 1

Q1 2019 Presentation

25 April 2019

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SLIDE 2

First quarter

Q1 2019 In Brief

  • Continued healthy growth: +15%
  • Order intake in line with sales
  • 6% acquired, 6% organic and 3% currency
  • Increased market share and stable demand
  • Increased operating profit (+13%) and stable margin
  • Gross margin lower,

but also lower percentage of operating expenses

  • Strong EBITA growth; margin stable at 11%
  • International showed strong performance in all metrics,

Sweden burdened by low gross margin

  • Best-ever sales, operating profit and net profit in a quarter
  • Continued investments in Leadership 2020

2

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SLIDE 3

EBITA Q1 2018 106 Currencies +1 Volume +15 Price/cost/mix/other

  • 7

Acquisitions +3 EBITA Q1 2019 119

3

First quarter

Financial highlights, Group

Quarter 1

Δ

12-months rolling Full year SEK million 2019 2018

%

2019/18 2018 Order intake 1,084 944

15

3,938 3,798 Net sales 1,091 945

15

3,932 3,786 Gross profit 304 277

10

1,114 1,088

% 27.9 29.3 28.3 28.6

Operating expenses

  • 184
  • 171

6

  • 734
  • 721

% 16.9 18.1 18.7 19.0

Operating profit (EBITA) 119 106

13

380 367

% 10.9 11.2 9.7 9.7

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SLIDE 4

Financial development, Group

  • 5

5 10 15 20 25

Percent

Quarterly Net Sales growth

Organic growth Acquisitions and currency translation

50 100 150 200 250 300 350 400 450 500 1000 1500 2000 2500 3000 3500 4000 4500

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

First quarter

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SLIDE 5

First quarter

Segment International

  • Net sales grew by 13%, whereof 8% organic
  • Higher underlying demand and increased market share
  • Strong gross margin in line with last year: currencies, price increases
  • Good growth and cost control drive record high EBITA and margin

EBITA Q1 2018 71 Currencies +5 Volume +16 Price/cost/mix/other

  • 7

Acquisition EBITA Q1 2019 85

5 Quarter 1

Δ

Rolling 12 months Full year SEK million 2019 2018

%

2019/18 2018 Order intake 725 647

12

2,726 2,648 Net sales 731 648

13

2,698 2,615 Gross profit 217 192

13

813 788

% 29.8 29.7 30.2 30.1

Operating expenses

  • 132
  • 121

9

  • 509
  • 498

% 18.1 18.7 18.5 19.0

Operating profit (EBITA) 85 71

20

304 290

% 11.7 11.0 11.3 11.1

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SLIDE 6

First quarter

Financial development, International

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

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

  • 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 up by 21%, whereof 20% due to the acquisition of Rudhäll
  • Unchanged underlying demand and market share
  • Gross margin down due to purchasing prices, a weak SEK

and limited organic growth

  • EBITA and margin considerably lower, despite good cost control
  • Further price increases and sourcing savings to restore gross margin

EBITA Q1 2018 42 Currencies

  • 4

Volume Price/cost/mix/other

  • 3

Acquisition +3 EBITA Q1 2019 38

Segment Sweden

7

First quarter

Quarter 1

Δ

Rolling 12 months Full year SEK million 2019 2018

%

2019/18 2018 Order intake 359 297

21

1,211 1,149 Net sales 360 297

21

1,235 1,172 Gross profit 91 89

2

325 323

% 25.3 29.9 26.3 27.6

Operating expenses

  • 53
  • 47

13

  • 203
  • 197

% 14.7 15.8 16.4 16.8

Operating profit (EBITA) 38 42

  • 10

122 126

% 10.6 14.1 9.9 10.8

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SLIDE 8

First quarter

Financial development, Sweden

  • 10
  • 5

5 10 15 20 25

Percent

Quarterly Net Sales growth

Organic growth Currency translation effects and acquisition

50 100 150 200 500 1000 1500 2000 LTM 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

First quarter

EBITA Bridge

10 Group International Sweden Other EBITA Q1 2018 106 71 42

  • 7

Currency +1 +5

  • 4

Volume +15 +16 Price/cost/mix/other

  • 7
  • 7
  • 3

+3 Acquisitions +3 +3 EBITA Q1 2019 119 85 38

  • 4
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SLIDE 11

Outlook

Summary and outlook

Q1 2019 in summary

  • Continued execution of strategy, and significant investments in Leadership
  • Strong growth: stable demand + market share + acquisitions
  • Lower gross margin due to weak gross margin in segment Sweden
  • Good growth and cost control drive record results in International, and for the Group

Outlook

  • Raw materials prices leveled off end 2018
  • Focus 2019
  • Short term: manage cycle, increase share, and improve gross margin
  • Long-term: continued investments in our “Leadership 2020” initiatives
  • Always: quality and customer first, and look for opportunities to strengthen Bufab
  • Still macroeconomic uncertainty, but optimistic about the remainder of the year

11

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SLIDE 12

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www.bufab.com

Q&A

Q&A