FOURTH QUARTER
- Net sales amounted to SEK 1,475 (1,576) million, a decrease of -6.4% on the same period the previous year.
- Operating earnings (EBIT) totaled SEK 20 (33) million, equating to an operating margin of 1.4% (2.1). Additional costs of approximately SEK -55 million have had a negative impact on operating earnings. These are largely attributable to the closure of a warehouse operation in Poland, major maintenance, and start-up costs in Asia.
- Earnings after tax amounted to SEK 9 (30) million.
- Order bookings amounted to SEK 1,470 (1,582) million, a decrease of -7.1% on the same period the previous year.
- Cash flow from operating activities totaled SEK 150 (89) million.
- Earnings per share were SEK 0.03 (1.00).
- The Board of Bulten AB decided to propose to the Annual General Meeting a dividend of 2.75 (2.50) SEK per share for 2024.
- Bulten and ZJK Vietnam Precision Components Co., Ltd, part of Chinese fastener company ZJK Precision Parts (ZJK), signed a letter of intent to establish micro screw manufacturing in Vietnam through a joint venture. The goal is to start production in Vietnam in 2025.
JANUARY - DECEMBER
- Net sales amounted to SEK 5,807 (5,757) million, an increase of 0.9% on the same period the previous year.
- Operating earnings (EBIT) totaled SEK 301 (230) million, equating to an operating margin of 5.2% (4.0).
- Earnings after tax amounted to SEK 161 (127) million.
- Cash flow from operating activities totaled SEK 319 (353) million.
- Earnings per share were SEK 6.45 (4.89).
- Net debt amounted to SEK 1,394 (1,340) million. Net debt, excluding lease liabilities, totaled SEK 865 (834) million.
- The equity/assets ratio was 40.3% (37.9) at the end of the period. The equity/assets ratio, excluding lease liabilities, totaled 44.9% (42.2).
- In January, Anders Nyström decided to step down from his role as President and CEO of Bulten. Christina Hallin, an existing board member, then stepped in as Interim President and CEO. In July, Axel Berntsson was appointed as the new President and CEO, and he assumed the role on January 22, 2025.
- At the beginning of the year, changes were also made to Bulten's Executive Management Team, in order to achieve the company's strategic ambitions in the markets where Bulten operates and further increase innovative power. The company moved from a global functional structure to an interdisciplinary regional structure, in which three regions - Europe, Asia, and North America - now have full responsibility for production and sales. In conjunction with this, the central function responsible for innovation and technical solutions was also strengthened.
"As the new CEO, it is gratifying to see that Bulten improved its financial results for the year as a whole compared to the previous year. Unfortunately, the last quarter of the year was burdened by high additional costs, and this has impacted on the financial results. Together with the team, our main focus in 2025 will be to achieve a sustainably improved level of profitability and capital efficiency," says Axel Berntsson, President and CEO.
A live presentation for analysts, media and investors will be held today on February 3, at 3:30 PM CET, during which President and CEO Axel Berntsson and CFO Anna Åkerblad will comment on the result. The presentation will be conducted in English and include a Q&A session.
Information for participants:
If you wish to participate via the webcast and submit written questions, please use the following link: https://www.finwire.tv/webcast/bulten/q4-2024/
If you wish to participate via the conference call and ask questions verbally, please dial +46 8 5050 0829 and use PIN code 854 7493 6863#.
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 2024 totaled SEK 5,807 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. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-03 13:30 CET.
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Bulten Axel Berntsson
