FIRST QUARTER 2024
- Net sales amounted to SEK 1,533 (1,387) million, an increase of 10.5% on the same period the previous year.
- Operating earnings (EBIT) totaled SEK 116 (116) million, equating to an operating margin of 7.5% (8.4).
- Earnings after tax amounted to SEK 74 (79) million.
- Order bookings amounted to SEK 1,299 (1,356) million, a decrease of -4.2% on the same period the previous year.
- Cash flow from operating activities totaled SEK 123 (196) million.
- Earnings per share were SEK 3.22 (3.56).
- On January 22 Anders Nyström, Bulten's President and CEO of five years, announced that he would be leaving the company. On February 9, Board member Christina Hallin stepped in as Interim President and CEO until someone permanent has been appointed.
- To achieve the strategic ambitions on the markets where Bulten operates and further increase innovative power, the organization 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.
- On March 15, Michael Richards was appointed President Region Asia. He took up his post on April 1, and is a member of Bulten's Executive Management Team.
"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 organizational structure, combined with closer cost control, are starting to have an effect on financial result," says Christina Hallin, Interim CEO and President.
A live presentation for analysts, media and investors will be held today April 25, at 3.30 PM CEST, where Interim President and CEO Christina Hallin and CFO Anna Åkerblad will be commenting the result. The presentation will be held in English and include a Q&A session.
Information for participants:
If you wish to participate via webcast, please use the link below. Via the webcast you are able to ask written questions.
https://ir.financialhearings.com/bulten-q1-report-2024
If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=50049092
The report will also be available on Bulten's website:
https://www.bulten.com/en/IR?
For further information, please contact:
Ulrika Hultgren, SVP Corporate Communications and IR, Bulten AB
Phone: +46 (0) 72-747 17 58
E-mail: ulrika.hultgren@bulten.com
About Bulten
Bulten Group is a leading global manufacturer and distributor of fasteners to the automotive industry, as well as other industries such as consumer electronics. The offering extends from a wide range of standard products to specially adapted fasteners. With Bulten's Full Service Provider concept (FSP), customers can entrust all their fastener needs to the company, including development, sourcing, logistics and service. Bulten was founded in 1873, has approximately 1,900 employees around the world and is headquartered in Gothenburg, Sweden. Exim & Mfr Enterprise is a part of Bulten Group since 2023. Net sales in 2023 totaled SEK 5,757 million. The share (BULTEN) is listed on Nasdaq Stockholm.
This information is information that Bulten is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-04-25 13:30 CEST.
