Bulten AB has achieved net sales of SEK 1.006 billion 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, 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 finalised during the second quarter. The operation was bought by the Russian company CAR SEATS LLC, and all shares in the joint venture company previously owned by Bulten and GAZ were redeemed.
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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