Bulten achieves best ever quarter
22 June 2017
Bulten AB reported net sales for the first quarter 2017 at SEK 778 million (€80.8 million), an increase of 8.8% on the same period last year.
Operating earnings (EBIT) were SEK 63 million up from SEK 55 million in Q1 2016, corresponding to an operating margin improved from 7.7% to 8.1%. Earnings after tax were SEK 51 million, up 27.5% on Q1 2016.
President and CEO Tommy Andersson commented: “During the first quarter of 2017 we delivered our best ever results, with earnings per share increasing by 28%. Net sales during the quarter increased by 8.8% on the same period last year, meaning we once again increased our market share. Bulten continued to develop well in terms of profitability, as a result of higher volumes, good loading and optimised production.”
“We strengthened both our financial position and our key indicators during the quarter. The operating margin climbed to 8.1% and return on capital employed increased to 14.4%.” “During the quarter we strengthened our position on the North American market by establishing a production company and a joint venture with Ramco Specialities Inc in Hudson, Ohio, USA. We can now offer
our FSP concept on the American market. Bulten’s production for fasteners in the US is expected to start at the end of 2017.”
“Bulten has started 2017 strongly and our prospects to continue winning market shares are good. Establishing in North America broadens Bulten’s market and creates further opportunities for growth among both new and existing customers.”
[SEK 100 approximately €10.4 at interbank]
