Industry News

Bulten Group has reported that net sales amounted to SEK 1.533 billion (€131.36 million) for the first quarter of 2024, an increase of 10.5% on the same period the previous year (2023: SEK 1.387 billion). Adjusted operating earnings totalled SEK 116 million, equating to an adjusted operating margin of 7.5%. 

Bulten highlights that to achieve the strategic ambitions on the markets where it operates, and further increase innovative power, the organisation was restructured at the beginning of the quarter. 

The new interdisciplinary regional structure is divided into three regions – Europe, Asia and North America – which were given responsibility for sales, manufacturing and financial results. There were also adaptations to the company’s engineering resources, in order to enhance product development and innovation.

“The year began with good sales and a sequentially improved operating margin. It is clear that efforts following the capacity challenges in Europe and the launch of a new regional organisational structure, combined with closer cost control, are starting to have an impact on financial results,” comments Christina Hallin, interim president and CEO.

“I am pleased to see the operating margin has improved on the three previous quarters, and it is satisfying too that our customer mix in automotive, along with sales in new customer groups, is contributing to stable growth. It is also worth noting that we have now had two consecutive quarters with sales in excess of SEK 1.5 billion. Again this quarter, our main priority has been to reduce the production backlog in Europe, which is adding extra costs. We have not yet caught up but have made good progress, and this can also be seen in the improved operating margin,” adds Christina.