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Regulatory press release

Sales remain strong, but volatile demand and production disruptions affect results

Bulten
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SECOND QUARTER

  • Net sales amounted to SEK 1,466 (1,416) million, an increase of 3.5% on the same period the previous year.
  • Operating earnings (EBIT) totaled SEK 74 (50) million, equating to an operating margin of 5.1% (3.5).
  • Adjusted operating earnings (EBIT) totaled SEK 74 (58) million, equating to an operating margin
    of 5.1% (4.0).
  • Earnings after tax amounted to SEK 40 (43) million. Adjusted earnings after tax amounted to
    SEK 40 (51) million.
  • Order bookings amounted to SEK 1,541 (1,476) million, an increase of 4.4% on the same period
    the previous year.
  • Cash flow from operating activities totaled SEK 107 (46) million.
  • Earnings per share were SEK 1.64 (1.82). Adjusted earnings per share were SEK 1.64 (2.20).

JANUARY – JUNE

  • Net sales amounted to SEK 2,999 (2,803) million, an increase of 7.0% on the same period the previous year.
  • Operating earnings (EBIT) totaled SEK 190 (166) million, equating to an operating margin of 6.3% (5.9).
  • Adjusted operating earnings totaled SEK 190 (174) million, equating to an adjusted operating margin
    of 6.3% (6.2).
  • Earnings after tax amounted to SEK 114 (122) million. Adjusted earnings after tax amounted to
    SEK 114 (130) million.
  • Cash flow from operating activities totaled SEK 230 (242) million.
  • Earnings per share were SEK 4.86 (5.38). Adjusted earnings per share were SEK 4.86 (5.76).
  • Net debt amounted to SEK 1,333 (812) million. Net debt, excluding lease liabilities, totaled
    SEK 793 (301) million.
  • The equity/assets ratio was 39.0% (45.9) at the end of the period The equity/assets ratio, excluding
    lease liabilities, totaled 43.8% (51.9).

“Sales were strong again in Q2, although slightly lower than in the first quarter. Even so, the financial result did not match expectations. This is mainly due to continued volatile demand from our automotive customers in Europe, as well as the hardening furnace breakdown in Poland earlier in the year, which had a negative impact on productivity,“ says Christina Hallin, Interim President and CEO.

A live presentation for analysts, media and investors will be held today July 10, at 11.00 AM 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-q2-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=50049093

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 and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-07-10 08:00 CEST.

Attachments
Q2 Report 2024

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