7/13/2015 1:13:00 AM
NEWS BRIEFS
Bulten AB Sales & Profit Increase
Bulten AB reported sales rose 12.5% to SEK 696 million (US$82.1m) in the second quarter of 2015. EBIT increased 21.6% to SEK 45 million, which corresponds to an operating margin of 6.5%. Net income gained 34.6% to SEK 35 million.
Q2 order bookings improved 6% to SEK 688 million.
“We continued to win new business during the quarter, including a new contract from an existing customer concerning fasteners for heavy vehicles worth around SEK 17 million annually,” stated CEO Tommy Andersson. “We have also seen how our business in Russia and China continues to progress.”
A new heat treatment line began operating during Q2 and construction of the logistics center in Poland is “proceeding according to plan and is expected to be taken into operation in Q3,” Andersson added.
During the first six months of 2015, sales grew 17.5% to SEK 1.4 billion, with EBIT rising 17% to SEK 82 million, which corresponds to an operating margin of 5.8%. Net income gained 32.6% to SEK 65 million. Order bookings amounted increased 5.2% to SEK 1.3 billion.
Bulten is the former FinnvedenBulten AB, which officially changed its name in September to Bulten AB, the final step in its transformation to a exclusively fastener company.
In June 2014, FinnvedenBulten sold its Metal Structures division to Shiloh Industries Inc., a U.S. supplier to the automotive industry, for SEK 490 million (US$74.3m).
Following the sale, the company unveiled its new executive team, led by Andersson and CFO Helena Wennerström.
Related Links:
Share: