Bulten AB has achieved net sales of SEK 1.006 billion (€93.94 million) in the second quarter of 2022, an increase of 10.5% on the same period last year (SEK 910 million). Operating earnings (EBIT) totalled SEK 41 million (2021: SEK 55 million), equating to an operating margin of 4.1%.
Anders Nyström, president and CEO at Bulten AB, states: “The second quarter was characterised by a volatile business climate, where costs increased in tandem with fluctuations in our production. Underlying demand in the automotive industry remained strong, but unfortunately our customers’ production volumes were negatively impacted early in the quarter by widespread component shortages. On a positive note, however, at the end of the quarter the production disruptions decreased significantly and we also finalised the closure of our operation in Russia.”
Bulten had previously announced the closure of its Russian operation, which was bought by the Russian company CAR SEATS LLC. All shares in the joint venture company previously owned by Bulten and GAZ were redeemed.
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.
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