Bulten AB has reported net sales of SEK 1.095 billion an increase of 43.3% on the same period last year (2021: SEK 764 million). Operating earnings (EBIT) totalled SEK 47 million, equating to an operating margin of 4.3%.
Anders Nyström, president and CEO at Bulten, explained: “Net sales in Q3 increased by a full 43% compared to the same quarter in 2021, and was the second highest quarterly sales figure in Bulten’s history. Demand remained good although profitability was pressured by major operating disruptions among certain customers, due to a shortage of components and higher inflation. The focus moving forward will be on reducing stock levels and increasing margins. Our position as an innovative partner with sustainable solutions was confirmed through an exciting new collaboration with Polestar.”
The new collaboration with Polestar involves the development project Polestar 0, which aims to build a climate neutral electric car by 2030. Bulten’s contribution will be the delivery of climate neutral and highly functional fasteners, which will be achieved through a combination of energy efficient materials and processes, as well as renewable energy supply throughout the value chain.
“We are truly honoured to be part of the Polestar 0 project, and to assist one of our customers in developing a truly climate neutral vehicle,” reports Anders Nyström. “We take our sustainability work extremely seriously and see this as an opportunity to share our knowledge, but also to learn from the other partners involved in the project.”
Hans Pehrson, leader of the Polestar 0 project, adds: “A project of this ambition requires partners at the cutting-edge of their industries and which are fully engaged in our bold vision. That’s why I’m looking forward to Bulten becoming a crucial part of our team as we find solutions for developing an entirely climate neutral supply chain. Bulten’s expertise in fasteners will be invaluable in our mission and will play an integral role in pioneering new and innovative technologies to achieve what has so far been impossible.”
Bulten nominated as supplier for new EV platform
Bulten has also been nominated as a supplier of fasteners for a new global electric vehicle platform, to be produced in China. The order value is estimated at approximately SEK 155 million a year at full production.
Anders Nyström explains: “We are of course delighted to be delivering fasteners for a brand new EV platform intended for the global market. The nomination shows that we are a leader regarding sustainability in our industry, as this is a customer that places very high sustainability demands on its suppliers. The contract is also positive for our operation in China, as the majority of production will take place in our factory in Tianjin.”
Serial deliveries are expected to begin in the second quarter of 2024 and to reach full capacity during 2025. The new EV platform has an anticipated lifecycle of seven years.
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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