April 28, 2015

FIRST QUARTER

Established

in 1977

Around 850

employees

30 wholly owned

subsidiaries in

23 countries

Headquarters in

Värnamo, Sweden

120 000

articles

12 000customers

In-house

production

1

Approximately

2 400 MSEK

Listed on Nasdaq Stockholm

FIRST QUARTER

2

FIRST QUARTER

2

Quality and Customer First!

Accelerated organic

GrowthImproved cost/capital

EfficiencyValue-adding

Acquisitions

• New Business Growth -Customer Value Creation

• All of Bufab, All the Time

• Global Parts Productivity ™

• Consolidate Sourcing

• Logistics Productivity

• Common Tools and Processes

• Good Base Performance • Growth Synergies

• Products• Geography• Customer

• Shared Value Creation

3

FIRST QUARTER

Sales growth

Bufab’s goal is to achieve average annual organic growth over a business cycle exceeding the growth of the manufacturing industry in countries where Bufab is active by three percentage points. In addition, Bufab intends to grow through acquisitions.

+3 ppt

Profitability

Bufab targets an average operating margin of 12 percent over a business cycle.

12 %

Capital structure

Bufab’s capital structure shall provide a high degree of financial flexibility and make acquisitions possible. The net debt/equity ratio should not exceed 80%.

<80%

Net working capital

Bufab’s long-term goal is to achieve a net working capital/ net sales ratio of 30 percent.

30%

Dividend policy

Bufab’s target is to pay 50 percent of its net profit in dividends. However, the company’s financial condition, cash flow, acquisition opportunities and future prospects will be taken into account in any dividend decision.

50%

ACCELERATED

ORGANIC GROWTH

IMPROVED

EFFICIENCY

VALUE-ADDING

ACQUISITIONS

4

FIRST QUARTER

� Stable result despite currency pressure

� Growth strategy continues to deliver - increased market shares

� Margins under pressure from currencies primarily in Sweden - actions to offset beginning to show result

� Good growth in International

� Acquisition of Flos BV

5

FIRST QUARTER

12 month rollingQuarter 1 Δ Full year Δ

SEK millions 2015 2014 % 2014/15 2014 %

Order intake 616 563 9 2,248 2,195 2

Net sales 609 552 10 2,255 2,198 3

Gross margin, % 28.0 29.5 28.8 29.2

Adjusted operating profit 49 52 -6 189 192 -2

Adjusted operating margin, % 8.0 9.4 8.4 8.7

Profit after tax 33 17 97 128 112 15

Earnings per share, SEK 0.88 0.45 97 3.37 2.94 15

Net sales

�Order intake exceeds net sales

�Organic sales growth 4% thanks to market shares

Operating profit

�Currencies: -14 MSEK

�Higher volume: + 7

�Price/cost/mix & other: +4 (incl acquisition -1 MSEK)

Acquisition of Flos BV

�Complimentary product range, net sales 2014: 160 MSEK

� Impact in Q1: net sales +16 MSEK, operating profit -1 MSEK

6

FIRST QUARTER

-8

-1

6

4

10

8

6

2

4

-10

-5

0

5

10

15

Q12013

Q22013

Q32013

Q42013

Q12014

Q22014

Q32014

Q42014

Q12015

Quarterly organic year-on-year net sales growth, %*

7

*Adjusted for currency translation effects and acquisition

0

50

100

150

200

250

0

500

1000

1500

2000

2500

Q12013

Q22013

Q32013

Q42013

Q12014

Q22014

Q32014

Q42014

Q12015

MS

EK

LT

M N

et

sale

s, S

EK

mill

ions

LTM Net sales 12 M, MSEK LTM Adj Op Res, MSEK

FIRST QUARTER

12 month rolling

Quarter 1 Δ Δ

SEK millions 2015 2014 % 2014/15 2014 %

Order intake 257 268 -4 957 968 -1

Net sales 251 263 -5 969 982 -1

Gross margin,% 28.9 31.9 30.9 31.7

Adjusted operating profit 30 40 -26 133 144 -7

Adjusted operating margin,% 11.9 15.3 13.7 14.6

Net sales

• Order intake exceeds net sales

• Net sales decreased by 5%

• Effect from lost customer to manufacturing unit

• Customers moving production abroad

• Somewhat weaker underlying demand

Operating profit

�Currencies: -10 MSEK

�Volume: -4

�Price/cost/mix & other: +4

�Gross margin – pressure from higher purchasing costs due to

currency

8

FIRST QUARTER

-9

-6

-2

3

6

21

-6-5

-10

-5

0

5

10

15

Q12013

Q22013

Q32013

Q42013

Q12014

Q22014

Q32014

Q42014

Q12015

Quarterly year-on-year net sales growth, %

9

0

50

100

150

200

0

500

1000

1500

2000

Q12013

Q22013

Q32013

Q42013

Q12014

Q22014

Q32014

Q42014

Q12015

MS

EK

LT

M N

et

sale

s, S

EK

mill

ions

Net sales LTM, MSEK LTM Adj Op Res, MSEK

FIRST QUARTER

Net sales: strong organic growth

�Order intake in line with net sales

�Organic growth adjusted for currency

effects and acquisition: +11%

�Strategic initiatives showing results in

higher market shares

Operating profit

�Currencies: -4 MSEK

�Volume: +11

�Price/cost/mix & other: +2

Acquisition of Flos BV

�Complimentary product range, net sales 2014: 160 MSEK

� Impact in Q1: net sales +16 MSEK, operating profit 1 MSEK

10

12 month rollingQuarter 1 Δ Δ

SEK millions 2015 2014 % 2014/15 2014 %

Order intake 359 295 22 1 291 1 227 5

Net sales 358 289 24 1 286 1 217 6

Gross margin,% 28,0 28,0 28,0 28,0

Adjusted operating profit 27 17 54 84 75 12

Adjusted operating margin,% 7,4 6,0 6,5 6,2

FIRST QUARTER

-7

5

13

6

14 14

10

8

11

-10

-5

0

5

10

15

Q12013

Q22013

Q32013

Q42013

Q12014

Q22014

Q32014

Q42014

Q12015

Quarterly year-on-year organic net sales growth, %*

*Adjusted for currency translation effects and acquisition

11

0

50

100

150

200

0

500

1000

1500

2000

Q12013

Q22013

Q32013

Q42013

Q12014

Q22014

Q32014

Q42014

Q12015

MS

EK

LT

M N

et

sale

s, S

EK

mill

ions

Net sales LTM, MSEK LTM Adj Op Res, MSEK

FIRST QUARTER

25,0%

30,0%

35,0%

40,0%

45,0%

50,0%

0

200

400

600

800

1000

Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015

As o

f%

of

net

sale

s

SE

K m

illio

ns

Net Working Capital As of % of net sales

12

Group Sweden International Other

Adjusted EBIT Q1 2014 52 40 17 -5

Currency -14 -10 -4

Volume + 7 -4 +11

Price/cost/mix & other +5 + 4 +2 -1

Acquisition -1 +1 -2

Adjusted EBIT Q1 2015 49 30 27 -8

FIRST QUARTER

13

FIRST QUARTER

• Some positive signals, but no clear

improvement underlying demand

• Excellent growth in International driven

by increased market shares

• Insufficient market share gains in

Sweden

• Weak SEK/USD and recently

weaker EUR/USD put pressure on

margins, also going forward

• Acquisition of Flos BV

• Aiming to continue market share gains,

without sacrificing operational leverage

• Earlier announced cost savings program

of 15 MSEK proceeding as planned

• Continued efforts to achieve market

share gains

• Price increases and increased efforts in

purchasing - starting to show result

• Integration started well

• EPS contribution from Q2

14

Area Status Actions/going forward

GROWTH

EFFICIENCY

ACQUISITIONS