Bufab Group reported sales increased 18%, including organic growth of 14%, in the final quarter of 2017, Fastener + Fixing Magazine reports. Q4 orders rose 16%.

“The gross margin remained under pressure from higher raw material prices and was lower than in 2016,” stated CEO Jörgen Rosengren. “However, the margin recovered somewhat from the third quarter, mainly as a result of the price increases we implemented.”

Bufab’s international segment reported a 20% sales increase in Q4, with increased gross margin and lower costs as a percentage of sales, Fastener + Fixing reports.

Sweden also displayed robust growth, with the gross margin “somewhat stronger than in Q3 but significantly lower than in 2016”.

For the year, Bufab sales rose 12% to SEK 3,201 million (approximately €323 million), with operating profit (EBITA) up 12.3% to SEK 311 million and operating margin of 9.7%. 

“There is no shortage of challenges,” Rosengren noted. “For instance, we have to compensate for higher raw material prices using price increases and further streamlined purchasing processes.” Web: Bufab.com