Bulten has released its figures for the second quarter revealing stable results despite lower vehicle volumes and a focus on strategic review.
Net sales amounted to SEK 1,337 million, a decrease of -8.8% on the same period the previous year. Operating earnings (EBIT) totalled SEK 61 million, equating to an operating margin of 4.6%. Restructuring costs of approximately SEK -8 million have had a negative impact on operating earnings.
Order bookings amounted to SEK 1,211 million, a decrease of -21.4% on the same period the previous year.
In June Bulten decided to initiate a strategic review of which products should be manufactured in-house versus externally sourced in the future, as well as how the company should be organised. The review includes an assessment of the potential consequences of consolidating and/or divesting one or more of the Group’s manufacturing facilities.
“Q2 results were in line with both the previous year and the previous quarter. Sales to segments such as medtech and consumer electronics were strong, while volumes for light vehicles fell slightly as a result of the downturn in the automotive sector. We intensified our efforts to develop a new strategy during the quarter, and also started a review of Bulten’s organisation and resource allocation,” says Axel Berntsson, President and CEO.
The report will be available on Bulten’s website.
