FOURTH QUARTER
- Net sales amounted to
SEK 1,576 (1,339) million, an increase of 17.6% on the same period the previous year, of whichSEK 67 million is attributable to the acquisition of Exim & Mfr holdingsPte Ltd (Exim). - Operating earnings (EBIT) totaled
SEK 33 (103) million, equating to an operating margin of 2.1% (7.6). - Adjusted operating earnings totaled
SEK 33 (114) million, equating to an adjusted operating margin of 2.1% (8.5). The corresponding period previous year, was charged with approximatelySEK -10 million , which referred to winding-up costs for Bulten’s manufacturing plant inPembroke, UK . - Earnings after tax amounted to
SEK 30 (73) million. Adjusted earnings after tax amounted toSEK 30 (82) million. - Order bookings amounted to
SEK 1,582 (1,437) million, an increase of 10.1% on the same period the previous year, of whichSEK 54 million is attributable to the acquisition of Exim. - Cash flow from operating activities totaled
SEK 89 (250) million. - Earnings per share were
SEK 1.00 (3.01). Adjusted earnings per share wereSEK 1.00 (3.45). - The Board of
Bulten AB decided to propose to the Annual General Meeting a dividend ofSEK 2.50 (2.50) per share for 2023. - On
November 21 , Bulten entered into a joint venture with partnersRadium Fasteners Private Ltd (Radium) and ZJK Precision Parts HK (ZJK). The partnership will manufacture micro screws inIndia for international consumer electronics customers in 2024.
JANUARY – DECEMBER
- Net sales amounted to
SEK 5,757 (4,474) million, an increase of 28.7% on the same period the previous year, of whichSEK 83 million is attributable to the acquisition of Exim. - Operating earnings (EBIT) totaled
SEK 230 (180) million, equating to an operating margin of 4.0% (4.0). - Adjusted operating earnings totaled
SEK 243 (284) million, equating to an adjusted operating margin of 4.2% (6.3). Operating earnings have been charged with transaction costs ofSEK -13 million attributable to the acquisition of Exim. The corresponding period of the previous year was adjusted by approximatelySEK -104 million whereofSEK -93 million related to winding-up costs for Bulten’s operation inRussia . - Earnings after tax amounted to
SEK 127 (74) million. Adjusted earnings after tax amounted toSEK 140 (176) million. - Cash flow from operating activities totaled
SEK 353 (298) million. - Earnings per share were
SEK 4.89 (2.65). Adjusted earnings per share wereSEK 5.51 (7.48). - Net debt amounted to
SEK 1,340 (925) million. Net debt, excluding lease liabilities, totaledSEK 834 (411) million. - The equity/assets ratio was 37.9% (41.9) at the end of the period. The equity/assets ratio, excluding lease liabilities, totaled 42.2% (47.5).
- On
August 31 , Bulten finalized its acquisition of Exim, an Asian distributor of fasteners and other components. Based inSingapore , the company has annual sales in the region ofSGD 40 million (SEK 320 million ). The acquisition affords Bulten a good platform to grow in new sectors, where the distribution stage is a pivotal sales channel.
“2023 was the year when Bulten laid the foundation for future expansion opportunities in the distribution stage, as well as micro screw sales, through acquisitions and establishing new operations. It was also a year of very high sales, which unfortunately resulted in capacity challenges and also had a negative impact on operating profit, both in Q4 and for the year as a whole,” says Anders Nyström, President and CEO.
A live presentation for analysts, media and investors will be held the same day, at
Information for participants:
If you wish to participate via webcast, please use the link below. Via the webcast you are able to ask written questions.
https://ir.financialhearings.com/bulten-q4-report-2023
If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=50046256
The report will also be available on Bulten’s website:
https://www.bulten.com/en/IR?
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