3/23/2016 12:17:00 PM
NEWS BRIEFS
Bulten Reports Sales & Profit Growth
Bulten AB reported sales grew 11.6% to SEK 2,693 million (US$318.8 million) in 2015, Fastener+Fixing Magazine reports.
Full-year EBIT rose 24% to SEK 165 million, corresponding to an operating margin of 6.1%. Earnings after tax gained 32% to SEK 111 million, according to F+F.
“Bulten continues to develop positively and the most recent FSP contract that we signed, which in total is worth around SEK 60 million, is further evidence of our competence and the competitive advantage of our offer,” stated CEO Tommy Andersson.
“It is especially satisfying that the order comes from a new Chinese customer, which strengthens our position on this growth market.”
Fourth quarter sales increased 7.3%, boosted by “new volumes and strong development in the European car market.”
“The slowdown in China had some negative effects on sales in Q4, but these effects were less than in the previous quarter,” Andersson added.
Q4 operating margin increased to 7.1%.
Over the past six years Bulten has reported average annual growth of around 14% per year, according to F+F.
Bulten is the former FinnvedenBulten AB, which officially changed its name in September 2015 toBulten AB, the final step in its transformation to an exclusively fastener company.
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