Bulten Group report sales reached increased 1% to SEK 674 million (US$75.7 million) in the fourth quarter of 2016. Operating earnings (EBIT) rose 10.6% to SEK 52 million, which corresponds to an operating margin of 7.7%. Earnings after tax climbed 54% to SEK 37 million during the quarter.

Q4 order bookings gained 10.5% to SEK 744 million.

“Being a supplier to the automotive industry is challenging on many levels but we have managed to strengthen our customer relations by, among other things, supplying the best quality and service at the lowest possible cost,” stated CEO Tommy Andersson.

“We have also advanced our position in technology for electric cars and hybrids.”

During 2016, sales slipped 0.6% to SEK 2,676 million, with operating earnings up 21% to SEK 200 million, which corresponds to an operating margin of 7.5%. Full-year earnings after tax rose 31% to SEK 146 million.

Order bookings increased 1.6% to SEK 2,717 million.

“Bulten’s prospects for winning market share will be good from the second half of 2017, based on signed contracts and also on ongoing discussions with customers,” Andersson added. Web: bulten.com