Bufab Group: Clear recovery in July-August
PRESS RELEASE Värnamo September 4, 2020
The recovery observed toward the end of spring has picked up speed in the beginning of the third quarter. Bufab’s organic sales growth for the period July-August was approximately -5%, which is significantly better than the growth in June (-15%). In August, sales were back at the level of 2019 for the first time since the beginning of the corona crisis.
Including acquisitions and currency effects, growth in July-August was approximately +10%, compared with 0% in June.
The savings measures introduced in the second quarter continue to produce good results. They are part of a savings program of SEK 100 million presented in July 2020. It is expected to reach full effect in January, 2021.
Longer-term demand remains uncertain. However, thanks to the measures we have taken since March, the Group is well equipped to meet different market scenarios. We continue to monitor the development closely and continuously adapt action programs to the changing circumstances.
For more information, please contact:
Jörgen Rosengren, President and CEO, tel. +46 370 69 69 00
Marcus Andersson, CFO, tel. +46 370 69 69 66
Bufab AB (publ), Corporate Registration Number 556685-6240, is a trading company that offers its customers a full-service solution as Supply Chain Partner for sourcing, quality control and logistics for C-Parts (screws, nuts, etc.). Bufab’s Global Parts ProductivityTM customer offering aims to improve productivity in the customers’ value chain for C-Parts.
Bufab was founded in 1977 in Småland and is an international company with operations in 28 countries. The head office is located in Värnamo, Sweden, and Bufab has about 1,400 employees. Bufab’s net sales for 2019 amounted to SEK 4.3 billion and the operating margin was 8.8 percent. The Bufab share is listed on Nasdaq Stockholm, under the ticker “BUFAB”. Please visit www.bufab.com for more information.