Bulten's operating earnings for Q1 2025 are negatively affected by costs of SEK 45 million. These are linked to a decision by the Swedish Customs Service regarding anti-dumping duties on fasteners/fastener materials imported from China to the EU between 2022 and 2024. However, Bulten intends to appeal the Customs Service decision relating to SEK 35 million of the SEK 45 million through the Administrative Court.
Bulten and the company's lawyers believe there is a strong likelihood of having the decision on the anti-dumping duty of SEK 35 million reviewed and overturned by the Administrative Court, and thus potentially of having the amount refunded after the current calendar year. This is based on Bulten's claim that these imports do not concern finished fasteners, but items with low added value that should not be classified as fasteners subject to EU customs duties on imported fasteners from China.
Note that the above mentioned imports are related to previous flows that Bulten had between 2022 and 2024, when the company had major temporary capacity disruptions.
The SEK 45 million will impact cash flow for the second quarter.
Bulten will release its full Q1 interim report on April 28.
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 2024 totaled SEK 5,807 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 2025-04-10 21:00 CEST.
