Bufab reported sales in the third quarter of 2018 grew 22%, and order intake increased 19%, Fastener + Fixing Magazine reports. Operating profit (EBITA) for the quarter rose 15.7% to SEK 81 million (US$8.93 million), while the operating margin declined to 9.1%.

Bufab’s International segment recorded an improved earnings performance, even compared with a very strong second quarter. Increased market shares and successful acquisitions contributed to growth of 28%, of which 10% was organic, according to Fastener + Fixing. Gross margin strengthened further due to price increases and favorable currency effects despite cost increases driven by raw material prices. noted:

“We also succeeded in achieving growth without a corresponding increase in operating expenses,” stated CEO Jörgen Rosengren. “Overall, operating profit increased by more than 60%, primarily as a result of a very healthy organic growth.” 

Sales for the first nine months of 2018 increased 19% to SEK 2.82 billion, which included 10% organic growth. Nine-month EBITA rose 18.7% to SEK 285 million, with an operating margin of 10.1%.

Founded in 1977, Sweden-based Bufab supplies industrial fasteners, with operations in 24 countries and 940 employees. Web: Bufab.com