Q1 2014 Presentation

Stockholm, April 29, 2014

2

First quarter

Bufab is a leading Supply Chain Partner. We provide C-Parts,

covering everything from traditional fasteners to complicated

processed and assembled components in different materials, and

services to the industry worldwide, providing solutions in

manufacturing, quality, sourcing and logistics.

Bufab’s offering – Global Parts ProductivityTM

It helps our customers reduce total cost and complexity, free up

capital, achieve stable quality and deliveries.

Who we are

3

Bufab Group

First quarter

Established

in 1977

Around 800

employees

30 wholly owned

subsidiaries in23 countries

Approx 2 000 MSEK in turnover

Headquarters in

Värnamo, Sweden

120 000

articles

Listed on the stock exchange

12 000customers

In-house

production

4

Volume vs. value

First quarter

5

Global Parts Productivity™

First quarter

Over 120 000C-Parts

GlobalSupplierNetwork

In-houseProduction

CUSTOMERSATISFACTION

Lower total cost

Secured quality

Reliable delivery

Less complexity

Focus on core

6

First quarter

Bufab’s strategy

Accelerated growth Efficiency initiativesSelective

acquisitive growth

1 2 3

7

Financial targets

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

INCREASED

EFFICIENCY

VALUE-ADDING

ACQUISITIONS

8

Financial highlights, Group

First quarter

12 month

rollingQuarter 1 Change Full year Change

SEK millions 2014 2013 % 2013/14 2013 %

Order intake 563 520 8.3 2,115 2,072 2.1

Net sales 552 495 11.5 2,088 2,031 2.8

Gross margin, % 29.5 28.7 29.5 29.3

Adjusted operating profit 52* 41 27.3 214 203 5.4

Adjusted operating margin, % 9.4 8.2 10.2 10.0

Strong sales growth

�Adjusted for currency translation +10.5%

�Stronger economic conditions

�Strategic initiatives showing result

�Weak Q1 2013 – as comparison

Order intake exceeds net sales

*Excluding IPO costs of 18 MSEK

Improved gross margin

�Efficiency initiatives �

lower purchasing prices and supply chain costs

Improved operating margin

�Positively affected by higher sales, higher gross margin

�Negatively affected by higher costs for sales

organization and warehouse move in Finland

0

3

6

9

12

15

0

500

1000

1500

2000

2500

Q12012

Q22012

Q32012

Q42012

Q12013

Q22013

Q32013

Q42013

Q12014

Marg

in, %

LT

M N

et sale

s, S

EK

mill

ions

LTM Net sales 12 M, MSEK

Adjusted Operating Margin 12 M, %

-3

-6 -6 -6

-8

-1

6

4

10

-10

-5

0

5

10

15

Q12012

Q22012

Q32012

Q42012

Q12013

Q22013

Q32013

Q42013

Q12014

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

9

Financial development, Group

First quarter

*Adjusted for currency translation effects

10

Segment Sweden

First quarter

12 month

rollingQuarter 1 Change Full year Change

SEK millions 2014 2013 % 2013/14 2013 %

Order intake 268 263 1.8 1,003 998 0.5

Net sales 263 246 6.8 987 970 1.7

Adjusted operating profit 40 30 36.3 153 143 7.0

Adjusted operating margin, % 15.3 12.0 15.5 14.8

Good sales growth

�Stronger economic conditions

�Strategic initiatives showing result

�Negatively affected by customers moving

production

Improved operating margin

�Higher sales

� Improved capacity utilization and savings

�Negatively by price adjustments

Order intake exceeds net sales

0

5

10

15

20

0

500

1000

1500

2000

Q12012

Q22012

Q32012

Q42012

Q12013

Q22013

Q32013

Q42013

Q12014

Marg

in, %

LT

M N

et sale

s, S

EK

mill

ions

LTM Net sales 12 M, MSEK

Adjusted Operating Margin 12 M, %

-4

-3

-6

-7

-9

-6

-2

3

6

-10

-5

0

5

10

15

Q12012

Q22012

Q32012

Q42012

Q12013

Q22013

Q32013

Q42013

Q12014

Quarterly year-on-year net sales growth, %

11

Financial development, segment Sweden

First quarter

12

Segment International

First quarter

Strong sales growth

�Adjusted for currency translation +13.6%

�Stronger economic conditions

�Strategic initiatives showing results

Operating margin same as LY

�Positively affected by sales increase and purchasing

savings

�Negatively by higher cost for sales organization and

warehouse move in Finland

Order intake exceeds net sales

12 month

rollingQuarter 1 Change Full year Change

SEK millions 2014 2013 % 2013/14 2013 %

Order intake 295 257 14.9 1,112 1,074 3.5

Net sales 289 250 15.7 1,100 1,061 3.7

Adjusted operating profit 17 15 12.6 85 83 2.4

Adjusted operating margin, % 6.0 6.0 7.8 7.8

0,0

5,0

10,0

15,0

20,0

0

500

1000

1500

2000

Q12012

Q22012

Q32012

Q42012

Q12013

Q22013

Q32013

Q42013

Q12014

Marg

in, %

LT

M N

et sale

s, S

EK

mill

ions

LTM Net sales 12 M, MSEK

Adjusted Operating Margin 12 M, %

-3

-8

-6-5

-7

5

13

6

14

-10

-5

0

5

10

15

Q12012

Q22012

Q32012

Q42012

Q12013

Q22013

Q32013

Q42013

Q12014

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

13

Financial development, segment International

First quarter

*Adjusted for currency translation effects

14

First quarter

25,0%

30,0%

35,0%

40,0%

45,0%

0

200

400

600

800

Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014

As o

f%

ofnetsale

sS

EK

mill

ions

Net Working Capital As of % of net sales

Net working capital

Q1 2014 increase in receivables

15

First quarter

� Strong growth in net sales

– Weak Q1 2013

� Good margin improvement

– However higher costs in International, due to sales initiatives

and costs in Finland

� Increased net working capital driven by growth

– Increased net sales and therefore higher accounts receivables

� Order intake exceeds net sales

Summary Q1 2014

16

BACK UP

First quarter

Consolidated income statement

Quarter 1

SEK millions 2014 2013

Net sales 552 495

Cost of goods sold -390 -353

Gross profit 162 142

Distribution costs -82 -70

Administrative expenses -48 -29

Other operating income 5 5

Other operating expenses -4 -7

Operating profit 33 41

Profit/loss from financial items

Interest and similar income 0 0

Interest and similar expenses -8 -11

Profit after financial items 25 30

Tax on profit of the period -8 -7

Profit for the period 17 23

First quarter

Consolidated balance sheet

31-mar-14 31-mar-13 31-dec-13SEK millions

ASSETS

Non-current assets

Intangible assets 742 739 739

Property, land and equipment 140 138 145

Financial assets 25 25 25

Total non-current assets 907 902 909

Current assets

Inventories 635 556 626

Current receivables 502 457 440

Cash and cash equivalents 76 80 98

Total current assets 1,213 1,093 1,164

Total assets 2,120 1,995 2,073

EQUITY AND LIABILITIES

Equity 1,031 887 1,012

Non-current liabilities

Non-current liabilities, interest bearing 598 542 479

Non-current liabilities, non-interest bearing 29 26 29

Total non-current liabilities 627 568 508

Current liabilities

Current liabilities, interest bearing 100 221 227

Current liabilities, non-interest bearing 362 319 326

Total current liabilities 462 540 553

Total equity and liabilities 2,120 1,995 2,073

First quarter

Key figures

Quarter 1 Change

2014 2013 %

Order intake, SEK million 563 520 8.3

Net sales, SEK million 552 495 11.5

Gross profit, SEK million 162 142 14.4

Adjusted EBITDA, SEK million 60 49 23.6

Operating profit, SEK million 33 41 -18.0

Adjusted operating profit, SEK million 52 41 27.3

Profit after tax, SEK million 17 23 -24.8

Gross margin, % 29.5 28.7

Operating margin, % 6.0 8.2

Adjusted operating margin, % 9.4 8.2

Net margin, % 3.1 4,6

Net debt, SEK million 622 683 -8.9

Debt/equity ratio, % 60 77

Net debt / adjusted EBITDA 2,5 4.3

Working capital, SEK million 775 694

Working capital / net sales, % 35.5 36.5

Equity/assets ratio, % 49 44

Operational cash flow, SEK million 9 69

Earnings per share, SEK 0.45 0.59

20

Shareholders

First quarter

Shareholder

Number of

shares

Share of

capital and votes, %

Bufab S.à.r.l 7,627,620 20.0

Lannebo Fonder 2,110,944 5.5

Carnegie Fonder 1,469,000 3.8

Handelsbanken Fonder 1,364,939 3.6

Enter Fonder 1,092,400 2.9

JPMorgan Chase N.A 1,020,665 2.7

Fondita Nordic Micro Cap SR 1,010,000 2.6

JPMorgan Chase N.A 841,701 2.2

Didner & Gerge Fonder Aktiebolag 825,000 2.2

State Street Bank & Trust Com, Boston 785,681 2.1

Total, largest shareholders 18,147,950 47.6

Other shareholders 19,962,583 52.4

Geographical distribution

Sweden, 34%

Luxemburg, 23%

UK, 23%

USA, 10%

Other, 10%