Industry News

Bulten announced sales for Quarter 2 2017 at SEK 708 million, an increase of 3% on the same quarter in 2016. First half 2017 sales were SEK 1,486 million, a 6% year on year increase.

First half EBIT was SEK 120 million (2016: 109), corresponding to an operating margin of 8% (7.8). Earnings after tax were SEK 90 million (79).

Bulten said its order book had increased to SEK 1,485 million, up 8.3% on the same period in 2016.

Bulten’s joint venture with Ram-Bul in the United States recently signed a new contract worth US$5.5 million with a US automotive customer. Bulten also announced it had recently won a new Full Service Provision contract, worth around EUR 30 million annually, with an existing automotive customer and that it had started delivery of parts for electric vehicles.

President and CEO, Tommy Andersson, commented: “It is very pleasing that after the end of the quarter Bulten signed both a new extensive FSP contract and a strategically important contract in the US. During Q2, net sales increased by 3.0%. The growth during the quarter has been affected by fewer production days compared with the corresponding quarter last year and by somewhat lower volumes due to model changes. The development indicates strong underlying demand in the automotive industry combined with Bulten’s strong position on this market, which is confirmed by a strong order intake during the quarter.

The development of electric vehicles requires that fasteners be adapted for new material choices and design solutions and Bulten is at the forefront of providing vehicle manufacturers with the latest technology. During the quarter, deliveries to pre-series to the next generation of electrical vehicles have started.”

[SEK 100 ≈EUR 10.4 at interbank]