Bulten’s best-ever quarter.

FIRST QUARTER

Net sales reached SEK 778 million (715), an increase of 8.8% on the same period last year.

Operating earnings (EBIT) were SEK 63 million (55), which corresponds to an operating margin of 8.1% (7.7).

Earnings after tax were SEK 51 million (40).

Order bookings amounted to SEK 720 million (699), an increase of 3.0% on the same period last year.

Cash flow from operating activities was SEK -2 million (78).

Earnings per share were SEK 2.59 (2.03).

Net cash was SEK 54 million (-114) and the equity/assets ratio at the end of the period was 69.7% (65.2).

Bulten is strengthening its position by establishing a production company in the US and by forming a joint venture with Ramco for fasteners for the North American market.

CEO’S COMMENTS

“During the first quarter of 2017 we delivered our best-ever results, with earnings per share increasing by 28%.

Net sales during the quarter increased by 8.8% on the same period last year, meaning we once again increased our market share. Bulten continued to develop well in terms of profitability, as a result of higher volumes, good loading and optimized production.

We strengthened both our financial position and our key indicators during the quarter. The operating margin climbed to 8.1% and return on capital employed increased to 14.4%.

During the quarter we strengthened our position on the North American market by establishing a production company and a joint venture with Ramco in Hudson, Ohio. We can now offer our FSP concept on the American market. Bulten’s production for fasteners in the US is expected to start at the end of 2017.

Bulten has started 2017 strongly and our prospects to continue winning market shares are good. Establishing in North America broadens Bulten’s market and creates further opportunities for growth among both new and existing customers.”

Tommy Andersson, President and CEO

About Bulten

Bulten is one of the leading suppliers of fasteners to the international automotive industry. The company’s product range includes everything from customer-specific standard products to customized special fasteners. The company also provides technical development, line-feeding, logistics, material and production expertise. Bulten offers a Full Service Provider concept or parts thereof. The company was founded in 1873, has some 1,300 employees in nine countries and head office in Gothenburg.

Source: Bulten