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Bufab Group: Good growth and a sharp increase in operating profit is expected in the third quarter of 2020
Pressrelease, Värnamo, October 12, 2020
Net sales in the third quarter of 2020 was approximately SEK 1.180 million (2019: SEK 1.044 million), a growth of about 13%. Organic growth in the period was around 0%, which is a significant recovery from the second quarter of 2020 (-25%). Organic growth in the period August-September was positive.
Order intake in the quarter exceeded net sales.
Operating profit (EBITA) in the third quarter is expected to increase to SEK 135-145 million (2019: SEK 89 million). This corresponds to an operating margin of around 12% (2019: 8.5%). Operating profit increased primarily due to significantly lower operating costs in combination with a continued recovery in demand, as well as to good contributions from recent acquisitions. No revenue from Covid-19-related Swedish government grants has been recorded in the period.
Overall, Bufab saw a continued good recovery and a strong development in profitability in the third quarter.
All figures in this press release are preliminary and are not audited by the company's auditor. The regular interim report for the third quarter of 2020 will be published on October 23 at 07:30 CET. Bufab will present the report at a conference call the same day.
For further information, please contact:
Jörgen Rosengren, President & CEO, Bufab Group: +46 370 69 69 00
Marcus Söderberg, CFO, Bufab Group, telephone: +46 370 69 69 66
This information is information that Bufab AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 18:15 CET on October 12, 2020.
About Bufab
Bufab AB (publ), Corporate Registration Number 556685-6240, is a trading company that offers its customers a full-service 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 the customers’ value chain for C-Parts.
Bufab was founded in 1977 in Småland and is an international company with operations in 28 countries. The head office is located in Värnamo, Sweden, and Bufab has about 1,400 employees. Bufab’s net sales for 2019 amounted to SEK 4.3 billion and the operating margin was 8.8 percent. The Bufab share is listed on Nasdaq Stockholm, under the ticker “BUFAB”. Please visit www.bufab.com for more information.
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