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Bufab AB

Interim / Quarterly Report Aug 13, 2014

2898_rns_2014-08-13_7af003be-e41c-4261-baa0-b48d3a9009c7.pdf

Interim / Quarterly Report

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Interim report January – June 2014

Continued good growth

Second quarter 2014

  • Net sales increased by 8.4 percent to SEK 579 million (534). Adjusted for currency effects, net sales increased by 6.4 percent. The increase is attributable to higher market shares for segment International and to higher underlying demand.
  • Operating profit increased to SEK 60 million (58).
  • Operating margin amounted to 10.3 per cent (10.8). The operating margin was strengthened by higher net sales and gross profit but was burdened by investments within the sales organization.

January – June 2014

  • Net sales for the six months period increased by 9.9 percent to SEK 1,131 million (1,029). Adjusted for currency effects, the net sales increased by 8.4 percent.
  • Adjusted operating profit increased to SEK 111 million (98), corresponding to an adjusted operating margin of 9.9 percent (9.5).
Quarter 2 Δ Jan-Jun Δ 12 month
rolling
Full year Δ
SEK millions 2014 2013 % 2014 2013 % 2013/14 2013 %
Order intake 565 530 6.5 1,128 1,050 7.4 2,150 2,072 3.7
Net sales 579 534 8.4 1,131 1,029 9.9 2,132 2,031 5.0
Gross profit 177 162 9.3 339 304 11.7 632 596 6.0
Gross margin, % 30.5 30.3 30.0 29.5 29.6 29.3
Operating profit 60 58 3.7 93 98 -5.2 196 201 -2.6
Operating margin, % 10.3 10.8 8.2 9.5 9.2 9.9
Adjusted operating profit 60 58 3.7 111 98 13.6 216 203 6.6
Adjusted operating margin, % 10.3 10.8 9.9 9.5 10.1 10.0
Profit after tax 44 40 8.4 61 63 -3.0 129 131 -1.5
Earnings per share 1.16 1.07 8.4 1.61 1.66 -3.0 3.38 3.43 -1.5

GROUP IN BRIEF

For definitions, see page 16.

THE QUARTER IN BRIEF

NET SALES

SEK 579 m

SALES GROWTH

+8.4%

OPERATING PROFIT SEK 60 m

ADJUSTED OPERATING PROFIT SEK 60 m

OPERATING MARGIN 10.3%

ADJUSTED OPERATING MARGIN 10.3%

CEO'S OVERVIEW

During the second quarter, Bufab's order intake, net sales and operating profit increased. The primary reasons for the positive trend were that the market shares rose while the underlying demand also increased. However, it should be noted that the underlying demand for 2013 was weak, especially during the first quarter but increased successively during the remainder of 2013.

It is gratifying that we continue to increase our market shares. According to our assessment, this is a direct result of our growth strategy and our investments in the sales organisation. The growth rate is higher for segment International than for segment Sweden due to a slightly weaker demand in Sweden and the relocation of sales from segment Sweden to segment International due to customers' production relocation.

Our continued investment in growth during the year has resulted in higher selling costs than in 2013. This is in line with our strategy. However, taking into account the economic trend that is difficult to

Jörgen Rosengren, President and CEO

assess, in the near future, we will become more restrained in further expanding the sales organisation.

Improved efficiency is the second pillar of our strategy. During the first half of the year, we succeeded in initiatives, which resulted mainly in reduced purchase prices and lower costs in the logistics chain. The results of these initiatives are visible in a higher gross margin. Work on further efficiency improvements is ongoing.

The third pillar of the strategy is value-creating acquisitions. The evaluation of potential acquisition opportunities is a continuous activity, with a focus on acquisition candidates with growth synergies.

In general, we are confident in our strategy and its results. The underlying demand is currently difficult to assess. However, we see good opportunities to continue to capture market shares. This, combined with continuing stable order intake, means that we have good confidence for the rest of the year.

ABOUT BUFAB

Bufab Holding AB (publ), Corporate Registration Number 556685-6240, is a trading company that offers its customers a fullservice solution as Supply Chain Partner for sourcing, quality control and logistics for C-Parts (screws, nuts, etc.). Bufab's Global Parts ProductivityTM customer offering aims to improve productivity in customers' value chain for C-Parts.

Bufab was founded in 1977 in Småland and is an international company with operations in 23 countries. The head office is located in Värnamo, Sweden and Bufab has about 800 employees. Bufab's sales for 2013 amounted to SEK 2,031 million and operating profit was SEK 201 million. The Bufab share is listed on NASDAQ OMX Stockholm, under the ticker "BUFAB."

The Group in brief

SECOND QUARTER

The order intake rose 6.5 percent to SEK 565 million (530). The order intake was lower than the net sales, which is normal for the second quarter.

Net sales rose 8.4 percent to SEK 579 million (534). Adjusted for currency effects, the increase was 6.4 percent. The increase was due to strategic initiatives resulting in higher market shares for segment International as well as an improved underlying demand.

Operating profit rose to SEK 60 million (58). Earnings were positively impacted by the higher net sales, as well as savings in purchasing and logistics, and negatively impacted by higher personnel costs for the sales organisation, primarily in segment International.

JANUARY – JUNE

The order intake rose 7.4 percent to SEK 1,128 million (1,050) and was in line with net sales.

Net sales increased 9.9 percent to SEK 1,131 million (1,029). Adjusted for currency effects, the increase was 8.4 percent. An improved underlying demand and higher market shares in segment International resulting from strategic initiatives were the main reasons for the increase.

Operating profit amounted to SEK 93 million (98). During the first quarter, operating profit was charged with non-recurring costs of SEK 18 million pertaining to Bufab's listing. Adjusted for non-recurring items, operating profit amounted to SEK 111 million (98), corresponding to an adjusted operating margin of 9.9 percent (9.5). Earnings were positively impacted by the higher net sales, as well as savings in purchasing and logistics, and negatively impacted by higher personnel costs for the sales organisation, primarily in segment International.

FINANCIAL ITEMS AND TAX

The Group's net financial items amounted to a negative SEK 1 million (neg: 4) for the second quarter and a negative SEK 10 million (neg: 14) for the first half year. The net financial items were positively impacted by exchange-rate differences totalling SEK 4 million in the second quarter and SEK 2 million for the first half of the year.

The Group's profit after financial items amounted to SEK 59 million (54) for the second quarter and SEK 83 million (84) for the first half year.

The tax expense for the second quarter was SEK 15 million (14) and SEK 22 million (21) for the half year.

CASH FLOW, WORKING CAPITAL AND FINANCIAL POSITION

Quarter 2 Jan–Jun
SEK millions 2014 2013 2014 2013
Operating profit 60 58 93 98
Depreciation/amortisation and impairment 8 8 16 16
Other non-cash items 0 -1 0 -1
Changes in working capital -35 -5 -62 18
Cash flow from activities 33 60 47 131
Investments -9 -4 -13 -6
Operational cash flow 24 56 34 125

Operating cash flow amounted to SEK 24 million (56). The lower operating cash flow during the period was mainly due to higher working capital, primarily higher accounts receivable and higher inventories resulting from increased sales volumes. In addition to this, accounts payable decreased SEK 13 million pertaining to payment of costs attributable to Bufab's listing on the stock market. The operating cash flow was SEK 34 million (125) for the first half of the year.

The working capital in relation to net sales was 35.8 percent, which is an improvement compared with the year-earlier period, but weaker than the first quarter. Initiatives aimed at optimizing working capital are continuing.

On 30 June, the Group's net debt totalled SEK 611 million (640) and the debt/equity ratio was 56 percent (68).

Segment Sweden

Second quarter January – June

Net sales rose 2.5 percent to SEK 269 million (263). The increase was primarily attributable to an improved underlying demand compared with the year-earlier period. However, the increase was offset by customers' production relocation from Sweden, which had a negative impact on segment Sweden but a positive impact on segment International.

Operating profit amounted to SEK 47 million (42), corresponding to an operating margin of 17.5 percent (16.1). Earnings were positively impacted by a higher capacity utilisation, savings in purchasing and logistics, as well as inventory revaluation of SEK 3 million.

Net sales rose 4.5 percent to SEK 532 million (509). The increase was primarily attributable to an improved underlying demand compared with the year-earlier period. However, the increase was offset by customers' production relocation from Sweden, which had a negative impact on the Sweden segment but a positive impact on the International segment.

Operating profit amounted to SEK 87 million (72), corresponding to an adjusted operating margin of 16.4 percent (14.1). Earnings were positively impacted by a higher capacity utilisation and savings in purchasing and logistics.

Quarter 2 Δ Jan-Jun Δ 12
month
rolling
Full
year
Δ
SEK millions 2014 2013 % 2014 2013 % 2013/14 2013 %
Order intake* 255 257 -0.7 523 520 0.6 1,001 998 0.3
Net sales* 269 263 2.5 532 509 4.5 993 970 2.4
Operating profit 47 42 11.7 87 72 21.8 161 145 10.8
Operating margin, % 17.5 16.1 16.4 14.1 16.2 14.9
Adjusted operating profit 47 42 11.7 87 72 21.8 159 143 10.9
Adjusted operating margin, % 17.5 16.1 16.4 14.1 16.0 14.8

*Pertains to net sales and order intake from external customers.

THE QUARTER IN BRIEF

46% NET SALES SEK 269 m SHARE OF TOTAL SALES SALES GROWTH

OPERATING PROFIT

SEK 47 m

ADJUSTED OPERATING PROFIT SEK 47 m

OPERATING MARGIN 17.5%

ADJUSTED OPERATING MARGIN 17.5%

Segment International

Second quarter

Net sales rose 14.1 percent to SEK 310 million (271). Adjusted for currency effects, the increase was 10.2 percent. The increase was due to strategic initiatives that resulted in higher market shares for the segment, as well as improved underlying demand.

Operating profit for the period was SEK 23 million (23), corresponding to an operating margin of 7.3 percent (8.5). Earnings were positively impacted by higher net sales, but negatively by the higher cost level in the segment resulting from the investment in the sales organisation. During the year-earlier period, earnings were positively impacted by SEK 4 million pertaining to a project business, as well as a revaluation item.

January – June

Net sales rose 15.1 percent to SEK 599 million (520). Adjusted for currency effects, the increase in net sales was 12.1 percent. The increase was due to strategic initiatives that resulted in higher market shares for the segment, as well as an improved underlying demand.

Operating profit for the period was SEK 40 million (38), corresponding to an operating margin of 6.6 percent (7.2). Earnings were positively impacted by higher net sales but negatively by the higher cost level in the segment resulting from the investment in the sales organisation.

Quarter 2 Δ Jan-Jun Δ 12 month
rolling
Full
year
Δ
SEK millions 2014 2013 % 2014 2013 % 2013/14 2013 %
Order intake* 310 273 13.4 605 530 14.1 1,149 1,074 6.9
Net sales* 310 271 14.1 599 520 15.1 1,140 1,061 7.4
Operating profit 23 23 -2.4 40 38 5.5 86 84 2.5
Operating margin, % 7.3 8.5 6.6 7.2 7.6 7.9
Adjusted operating profit 23 23 -2.4 40 38 5.5 85 83 2.5
Adjusted operating margin, % 7.3 8.5 6.6 7.2 7.5 7.8

*Pertains to net sales and order intake from external customers.

OPERATING PROFIT SEK 23 million

ADJUSTED OPERATING PROFIT SEK 23 million

OPERATING MARGIN 7.3%

ADJUSTED OPERATING MARGIN 7.3%

Consolidated Income Statement

Quarter 2 Jan–Jun
SEK millions 2014 2013 2014 2013
Net sales 579 534 1,131 1,029
Cost of goods sold -402 -372 -791 -725
Gross profit 177 162 339 304
Distribution costs -86 -76 -168 -147
Administrative expenses -34 -33 -82 -62
Other operating income 8 10 13 15
Other operating expenses -4 -5 -8 -12
Operating profit
Note 1
60 58 93 98
Profit/loss from financial items
Interest and similar income 2 0 2 1
Interest and similar expenses -3 -4 -12 -15
Profit after financial items 59 54 83 84
Tax on profit of the period -15 -14 -22 -21
Profit after tax 44 40 61 63

Statement of Comprehensive Income

Quarter 2 Jan–Jun
SEK millions 2014 2013 2014 2013
Profit after tax 44 40 61 63
Other comprehensive income
Items that will not be reclassified subsequently to profit
or loss
Actuarial gains and losses, net of tax - - - -
Items that may be reclassified subsequently to profit or
loss
Translation differences 10 13 12 1
Other comprehensive income after tax 10 13 12 1
Total comprehensive income 54 53 73 64
Total comprehensive income attributable to:
Parent company shareholders 54 53 73 64

EARNINGS PER SHARE

Quarter 2 Jan–Jun
SEK 2014 2013 2014 2013
Earnings per share 1.16 1.07 1.61 1.66
Weighted number of shares outstanding, thousands 38,110.5 38,110.5 38,110.5 38,110.5
Diluted earnings per share 1.16 1.07 1.61 1.66
Weighted number of shares outstanding after dilution,
thousands
38,110.5 38,110.5 38,110.5 38,110.5

NOTE 1: NON-RECURRING ITEMS IN THE PERIOD

Quarter 2 Jan–Jun
SEK millions 2014 2013 2014 2013
Total non-recurring items with effect on gross profit - - - -
Costs for listing at NASDAQ OMX - - -18 -
Total non-recurring items with effect on operating
expenses
0 0 -18 0
Total non-recurring items with effect on operating
profit
0 0 -18 0

Consolidated Balance Sheet

30-jun-14 30-jun-13 31-dec-13
SEK millions
ASSETS
Non-current assets
Intangible assets 744 740 739
Property, land and equipment 146 135 145
Financial assets 24 25 25
Total non-current assets 914 900 909
Current assets
Inventories 657 575 626
Current receivables 522 492 440
Cash and cash equivalents 79 84 98
Total current assets 1,258 1,151 1,164
Total assets 2,172 2,051 2,073
EQUITY AND LIABILITIES
Equity 1,085 940 1,012
Non-current liabilities
Non-current liabilities, interest bearing 599 508 479
Non-current liabilities, non-interest bearing 29 26 29
Total non-current liabilities 628 534 508
Current liabilities
Current liabilities, interest bearing 91 216 227
Current liabilities, non-interest bearing 368 361 326
Total current liabilities 459 577 553
Total equity and liabilities 2,172 2,051 2,073

Consolidated Statement of Changes in Equity

SEK millions 30-jun-14 30-jun-13 31-dec-13
Equity at beginning of year 1,012 876 876
Comprehensive income
Profit after tax 61 63 131
Other comprehensive income
Items that will not be reclassified subsequently to profit or loss
Actuarial gain on pension obligations, net of tax - - 1
Items that may be reclassified subsequently to profit or loss
Translation differences 12 1 4
Total comprehensive income 73 64 136
Owner transactions
Dividend to parent company shareholders - - -2
Capital paid in through shareholder contributions - - 2
Total owner transactions 0 0 0
Equity at end of period 1,085 940 1,012

Consolidated Cash Flow Statement

Quarter 2 Jan–Jun
SEK millions 2014 2013 2014 2013
Operating activities
Profit before financial items 60 58 93 98
Depreciation/amortisation and impairment 8 8 16 16
Interest and other financial costs -4 -6 -11 -13
Other non-cash items 0 -1 0 -1
Income tax paid -14 -12 -28 -37
Cash flow from operating activities
before changes in working capital
50 47 70 63
Changes in working capital
Increase (-)/decrease (+) in inventories -15 -11 -24 10
Increase (-)/decrease (+) in operating receivables -20 -23 -81 -38
Increase (+)/decrease (-) in operating liabilities 0 29 43 46
Cash flow from operating activities 15 42 8 81
Investing activities
Acquisition of property, plant and equipment -9 -4 -13 -6
Acquisition of intangible assets -1 - -3 -
Cash flow from investing activities -10 -4 -16 -6
Financing activities
Repayment of borrowings -4 -37 -13 -80
Cash flow from financing activities -4 -37 -13 -80
Cash flow for the period 1 1 -21 -5
Cash and cash equivalents at beginning of period 76 80 98 88
Exchange differences 2 3 2 1
Cash and cash equivalents at end of period 79 84 79 84

The Group's Segment Reporting

Accumulated
2013 2014 2013 2014
Sweden Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 2 Q 2
Net sales 246 263 218 243 263 269 509 532
Operating profit/loss 30 42 33 40 40 47 72 87
Operating margin, % 12.0 16.1 15.0 16.7 15.3 17.5 14.1 16.4
Adjusted operating profit/loss 30 42 31 40 40 47 72 87
Adjusted operating margin, % 12.0 16.1 14.3 16.7 15.3 17.5 14.1 16.4
Accumulated
2013 2013 2014
International Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 2 Q 2
Net sales 250 271 272 269 289 310 520 599
Operating profit/loss 15 23 27 20 17 23 38 40
Operating margin, % 6.0 8.5 9.8 7.3 6.0 7.3 7.2 6.6
Adjusted operating profit/loss 15 23 27 19 17 23 38 40
Adjusted operating margin, % 6.0 8.5 9.8 7.0 6.0 7.3 7.2 6.6
2013 2014 2013
Other Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 2 Q 2
Net sales - - - - - - - -
Operating profit/loss -4 -8 -8 -8 -23 -10 -12 -34
Operating margin, % - - - - - - - -
Adjusted operating profit/loss -4 -8 -8 -4 -5 -10 -12 -16
Adjusted operating margin, % - - - - - - - -
2013 2014 2013 2014
Group Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 2 Q 2
Net sales 495 534 490 512 552 579 1,029 1,131
Operating profit/loss 41 58 51 52 33 60 98 93
Operating margin, % 8.2 10.8 10.4 10.2 6.0 10.3 9.5 8.2
Adjusted operating profit/loss 41 58 49 55 52 60 98 111
Adjusted operating margin, % 8.2 10.8 10.1 10.8 9.4 10.3 9.5 9.9
Accumulated
Accumulated

Consolidated key figures

Quarter 2 Δ Jan-Jun Δ
2014 2013 % 2014 2013 %
Order intake, SEK million 565 530 6.5 1,128 1,050 7.4
Net sales, SEK million 579 534 8.4 1,131 1,029 9.9
Gross profit, SEK million 177 162 9.3 339 304 11.7
Adjusted EBITDA, SEK million 68 65 3.5 127 114 11.7
Operating profit, SEK million 60 58 3.7 93 98 -5.2
Adjusted operating profit, SEK million 60 58 3.7 111 98 13.6
Profit after tax, SEK million 44 40 8.4 61 63 -3.0
Gross margin, % 30.5 30.3 30.0 29.5
Operating margin, % 10.3 10.8 8.2 9.5
Adjusted operating margin, % 10.3 10.8 9.9 9.5
Net margin, % 7.7 7.6 5.4 6.1
Net debt, SEK million 611 640 -4.5
Debt/equity ratio, % 56 68
Net debt / adjusted EBITDA 2.5 3.3
Working capital, SEK million 811 706
Working capital / net sales, % 35.8 36.0
Equity/assets ratio, % 50 46
Operating cash flow, SEK million 24 56 34 125
Earnings per share, SEK 1.16 1.07 1.61 1.66

For definitions, see page 16.

Parent Company Income Statement

Quarter 2 Jan–Jun
SEK millions 2014 2013 2014 2013
Administrative expenses -1 -2 -20 -3
Operating profit -1 -2 -20 -3
Profit/loss from financial items
Interest and similar expenses - - - -
Profit after financial items -1 -2 -20 -3
Appropriations - - - -
Tax on profit of the period 0 - 4 1
Profit after tax -1 -2 -16 -2
Other comprehensive income - - - -
Total comprehensive income -1 -2 -16 -2

*Including listing costs totalling SEK 18 million for the first quarter of 2014

Parent Company Balance Sheet

SEK millions 30-jun-14 30-jun-13 31-dec-13
ASSETS
Non-current assets
Financial assets
Participations in Group companies 845 845 845
Total non-current assets 845 845 845
Current assets
Receivables from Group companies 342 226 341
Other receivables 22 16 7
Cash and cash equivalents 4 0 3
Total current assets 368 242 351
Total assets 1,213 1,087 1,196
EQUITY AND LIABILITIES
Equity 869 819 884
Untaxed reserves 58 31 58
Non-current interest-bearing liabilities
Other non-current liabilities - - -
Total non-current liabilities 0 0 0
Current non-interest-bearing liabilities
Liabilities to Group companies 283 234 250
Other current liabilities 3 3 4
Total current liabilities 286 237 254
Total equity and liabilities 1,213 1,087 1,196

Other information

ACCOUNTING POLICIES

This interim report has been prepared pursuant to IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act. The Parent Company's accounts were prepared in accordance with the Swedish Annual Accounts Act, Chapter 9 and the Swedish Financial Reporting Board's recommendation RFR 2.

The accounting policies applied correspond to the accounting policies and measurement principles presented in the 2013 Annual Report. The 2013 Annual Report is available at www.bufab.com.

RISKS AND RISK MANAGEMENT

Exposure to risk is a natural part of business activity and this is reflected in Bufab's approach to risk management. The aim is to identify and prevent risks and to limit any loss or damage from these risks. The main risks to which the Group is exposed are related to the impact of the economy on demand. For further information, see Note 3 of the 2013 Annual Report.

SEASONAL VARIATIONS

Bufab has no essential seasonal variation but sales throughout the year vary depending on the number of customers' production days in each quarter. Sales and operating profit are normally lowest in the third quarter.

RELATED-PARTY TRANSACTIONS

During the first quarter, the redemption of preference shares, as well as the offset issue, were implemented and one Board member utilised his warrants. There were no other related-party transactions during the period.

EMPLOYEES

The number of employees in the Group as of June 30, 2014 was 808 and on June 30, 2013 was 761.

CONTINGENT LIABILITIES

There were no significant changes in contingent liabilities during the period.

AUDIT REVIEW REPORT

This interim report has not been examined by the company's auditors.

FINANCIAL REPORTING DATES

Interim Report January–September 4 November 2014

Year-end report January – December 20 February 2015

The Board of Director and the President certify that, according to our knowledge, the half-year report has been prepared in accordance with the accounting principles applicable to Swedish listed companies, that the information provided presents a fair overview of the facts, and that nothing of a significant nature which could influence the view created by the report has been omitted.

Värnamo, August 13 2014

Chairman of the Board President

Sven-Olof Kulldorff Jörgen Rosengren

Board member Board member Board member

Hans Björstrand Ulf Rosberg Adam Samuelsson

Johan Sjö Gunnar Tindberg Board member Board member

DEFINITION OF KEY FIGURES

Gross margin, % Gross profit as a percentage of net sales during the period

Adjusted gross profit Gross profit adjusted for non-recurring items

Adjusted gross margin, % Adjusted gross profit as a percentage of net sales during the period

EBITDA Operating profit before depreciation, amortisation and impairment

Adjusted EBITDA Adjusted operating profit before depreciation, amortisation and impairment

Operating margin, % Operating profit as a percentage of net sales during the period

Adjusted operating profit

Operating profit adjusted for non-recurring items

Adjusted operating margin, %

Adjusted operating profit as a percentage of net sales during the period

Net debt

Interest-bearing liabilities less interest-bearing assets, calculated at the end of the period

Debt/equity ratio, % Net debt divided by equity, calculated at the end of the period

Net debt/Adjusted EBITDA, %

Net debt at the end of the period as a percentage of adjusted EBITDA in the last twelve months

Working capital

Total current assets less cash and cash equivalents less current non-interest-bearing liabilities, calculated at the end of the period

Working capital/net sales, % Average working capital (calculated as the average of the past four quarters) as a percentage of net sales in the last twelve months

Equity/assets ratio, % Equity as a percentage of total assets, calculated at the end of the period

Operating cash flow

Operating profit adjusted for depreciation/amortisation, impairment and other non-cash items less changes in working capital and investments

Earnings per share

Profit after tax divided by the average number of common shares adjusted for the set-off issue and the 80:1 share split that were conducted during the first quarter 2014

CONFERENCE CALL

A conference call will be held on August 13, 2014 at 10.00 CET. Jörgen Rosengren, President & CEO and Thomas Ekström, CFO will present the result. The call will be held in English.

In order to participate, please use one of the following numbers; +44 (0) 1452 555566, UK 08444933800, Luxembourg 20880695, Sweden 0850336434 or US 16315107498. Conference code, 70034626.

Please dial in 5-10 minutes ahead in order to register.

This information is in accordance with the Swedish Securities Market Act, the Swedish Financial Instruments Trading Act and/or the regulations of NASDAQ OMX Stockholm. The information was submitted for publication at August 13, 2014 at 08.00.

CONTACT

Jörgen Rosengren CEO +46 370 69 69 01 [email protected]

Boel Sundvall Communications & IR +46 370 69 69 61 [email protected] Thomas Ekström CFO +46 370 69 94 01 [email protected]

Bufab Holding AB (publ) Box 2266 SE-331 02 Värnamo, Corp. Reg. No. 556685-6240 Tel: Tel. +46 (0)370 69 69 00 Fax +46 (0)370 69 69 10

www.bufab.com

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