Bulten Group has reported net sales amounted to SEK 1.41 billion (€118.4 million) for Q2 of 2023, an increase of 40.8% on the same period the previous year (Q2 of 2022: SEK 1.006 billion). Adjusted operating earnings totalled SEK 58 million, equating to an adjusted operating margin of 4%.
Bulten highlights that its operating earnings have been charged with transaction costs of SEK 8 million – attributable to the acquisition of Exim & Mfr Holdings Pte Ltd (for more read page 16). The corresponding quarter of the previous year was adjusted by approximately SEK 10 million, related to winding-up costs for Bulten’s operation in Russia.
“Demand has been strong over the past quarter. High sales volumes combined with the product mix, however, forced extraordinary measures that had a negative impact on operating profit. Shortly after the end of the quarter we signed an agreement to acquire Singapore-based Exim, which will provide a good platform for Bulten to grow in new sectors,” reported Anders Nyström, president and CEO at Bulten Group.
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.
Will manages the content strategy across all platforms and is the guardian for the high editorial standards that the Magazine is renowned.
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