A strong Q1 with record sales 11 May 2023

Bulten AB has reported a strong opening quarter of the year, with net sales at SEK 1.387 billion (€122.4 million) an increase of 34.1% on the same period last year (2022: SEK 1.034 billion). Operating earnings (EBIT) totalled SEK 116 million, equating to an operating margin of 8.4%.

Anders Nyström, president and CEO at Bulten, commented: “We have started the year with excellent financial results, and note that this is the fifth consecutive quarter with sales in excess of SEK 1 billion. Our strategy and our improvement efforts, based on 150 years of collective know-how, are clearly bearing fruit.”

He continued: “The first quarter of 2023 began with an excellent sales figure of SEK 1.387 billion, which is in line with our growth targets. This is an improvement of 34% on the same period in the previous year and slightly better than last quarter, which was itself a record quarter for sales. Furthermore, an operating margin of 8.4% indicates that we are on track to deliver on the financial targets we have set for 2024. Our resolute efforts to streamline the operation, while carefully balancing cost consciousness against the need for necessary investments, have certainly produced results. In addition, our focus on adjusting prices to customers in-line with rising costs and inflation has had a positive impact on the results.” 

“For several quarters now, I have been talking about the importance of reducing our stock levels, mainly so that we can free up capital for new investments. During the first few months of the year, we have reduced stock levels by SEK 47 million, which has had a positive effect on cash flow. Our focus on stock levels has helped us to identify further potential for improvement in our internal material flows, as well as in our supply chain. We still have some work to do in order to further adjust stock levels, and also to further improve control and planning of production and material deliveries.” 

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Will joined Fastener + Fixing Magazine in 2007 and over the last 15 years has experienced every facet of the fastener sector - interviewing key figures within the industry and visiting leading companies and exhibitions around the globe.

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