Reviving the boring thread of a boring company again! Here’s the Q3 report. For the first time in two years, we saw a small organic growth (1.4%). Demand was good in energy, agri, medtech, defense, and machine manufacturing sectors. Weakness is still visible among construction and automotive industry customers.
And a month ago, Bufab announced a new acquisition. This time, Novia Group was found in Germany. Novia brings additional sourcing expertise to the group. Novia’s revenue last year was 50 million euros.
And as a final highlight: a small manufacturing unit in the United States was divested in the summer. I’m not entirely sure, but this might have been the last divestment target that the company wanted to get rid of according to the strategy announced in 2023. Now Bufab’s business would consist solely of sourcing, importing, and distributing C-parts (as well as complementary niche companies).
Bufab’s stock has quietly climbed to ATH (All-Time High) levels this year. I’ve owned this for almost five years now and I’m happy to stay on board. I like these kinds of companies that operate in a dull, grey industry while disciplinedly executing their strategy.