Så ska Bufab höja de rekordhöga marginalerna ytterligare

Thank you very much.

Yes, I can do that. First and foremost, I am satisfied with the quarter. I think that what we can influence, we do in a good way. As you said, we were down 2.6% organically. That is a step in the right direction. We still have a cautious market out there. Then on the margin side, I am very pleased with the gross margin, all-time high now over 30%. That is a strong signal that we create value for our customers and that it also ends up in our books, so it's great to see. The EBITA margin is also in line with what we had in Q3 last year, and I am satisfied with that as well. We are reducing our cost base, and the activities we have done during the end of 2023, beginning of 2024, are also having an effect on the cost side. So on the margin side, I am also satisfied. Then there is good cash flow, which I am happy with, and we are reducing our net debt. So that's good. Then I can also mention here, you talked about our order intake: It is, adjusted for Hallborn and Lann which we divested, in line with net sales for the quarter. So no major change there, adjusted for the divestment of Hallborn and Lann which we did in early July.

Overall, it is quite similar, I would say, to what we have seen in the previous quarters during the year. What has been very strong, defense and energy continue to pace very strongly, while consumer-driven industries are having a tougher time. For us, the RV and trailer industry in the US is also a fairly large part of the American market, and it is still going tough. The bright spot we can see is that in kitchens and bathrooms, for example, we see improved figures, so that is positive. We also see indications that it will get better in what we call general industry, where customers and forecasts suggest that during the first half of 2025 there could be improvement. But overall, it is still a cautious market out there, that's how it is.

Yes, disappointment... I would say it is difficult to predict now, it has been for a couple of quarters. So it is rather a shift, I would say. I still believe the indications we saw in the previous quarter in Q2 remain, with possibly a shift, as we see. So I think there are indications of a brightening if you look at customers' forecasts and so on. But a shift... simply, that's what we see.

There are several external factors that affect, both positively and negatively. It varies depending on which market we are talking about. At the core, I am positive. I believe, as I said, that there will be an improvement next year. But it is still challenging to say when it will hit. But that we are at a low, stable level that will gradually go up, we feel quite comfortable with when we see in our forecasts from customers... and in dialogue with customers we have.

Above all, it is our company in China that is doing a great job, gaining market share and growing. China has been challenging, but we have managed to do a good job, it is a good team that succeeds in gaining market share. That is the main reason we have seen good growth in the quarter.

Yes, the strategic change to divest what we call 'Manufacturing' is done. I am satisfied with that, we completed it in early July. What you can expect is that we will continue to work on moving from selling screws and nuts to selling value, what we call 'peace of mind'. That could be seen in a successively improved gross margin. The more value we create for our customers with our offering, the higher margin we should achieve in our books. I am satisfied with the journey we have made during the year. Great gross margin in Q3 as well. And my hope is that we can continue to work on and improve it. So I hope that. And then of course we will continue to hold costs but at the same time be able to invest, so we have had a situation where we have both accelerated and braked during 2024 and we will continue with that. For some companies, we see great potential in continuing to invest to gain market share. But in other companies, we continue to hold costs tightly and make adjustments. So on the margin side, I am positive about the future. We have set a target of 14% EBITA in 2026, and I think we, with this quarter, continue to take a step in the right direction to reach our long-term profitability goals.

It looks good. First of all, if we can continue to pay down our debt: Our debt-to-equity ratio of 2.4 is at a very good level. So we have a balance sheet that is ready for acquisitions. That is positive. And moreover, the activities in the market are at a completely different level than they were a year ago. So activity is high, and if an acquisition appears, we have the opportunity to strike. And that is part of our strategy. So the market looks better and better. And we are more and more ready. So it feels promising for the future.

Yes, thank you very much.