2/26/2016 10:33:00 AM
NEWS BRIEFS
Bufab AB Reports “Good” Growth in 2015
Bufab AB reported “good growth and improving operating profit for 2015.
Full-year sales rose 12% to SEK 2.46 billion (US$287.3 million). Adjusted for currency effects and acquisitions, net sales increased 3%.
Adjusted operating profit gained 2.6% to SEK 197 million, while EPS grew 13% to SEK 3.27.
During the fourth quarter of 2015, Bufab acquired Apex Stainless Fasteners Ltd, UK, with annual sales of SEK 300 million.
Overall Q4 sales rose 15% to SEK 612 million. Adjusted for currency effects and acquisitions, net sales increased 4%.
Final-quarter operating profit improved 15% to SEK 38 million, EPS dipped to SEK 0.49.
“The action program that we announced at the start of 2015, in the form of price increases, a strengthened focus on improved purchase prices and a cost-savings program of SEK 15 million, has generated effects and was crucial for our success in gradually turning around earnings to an improved operating profit,” stated CEO Jörgen Rosengren.
However, the performance of the company’s two operating segments was uneven. Net sales for segment Sweden declined 4%, primarily the result of a customer of one of the manufacturing units taking over production.
International segment results were more favorable, sales jumping 25%, including organic growth of 9%. Operating profit and margin also improved, driven by higher sales. Web: bufab.com
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