Swedish fastener manufacturer Bulten has reported a drop in net sales for the first quarter of 2025.
In its latest financial results announcement, the company reported a net sale in Q1 amounted to SEK 1,431 million, representing a 6.7% decrease compared to the same quarter last year.
Operating earnings (EBIT) totalled SEK 44 million, down from SEK 116 million in Q1 2024, equating to a 72% decrease.
Bulten announced in April that operating earnings for Q1 2025 were negatively affected by SEK 45 million in costs. These were linked to a decision by the Swedish Customs Service regarding anti-dumping duties on fasteners and fastener materials imported from China to the EU between 2022 and 2024.
“However, we believe we have a good chance of having the decision reviewed and overturned, and should therefore have SEK 35 million of the amount refunded in the next year or so. It is also worth mentioning that the imports relate entirely to flows that arose during the period when Bulten was facing capacity challenges in Europe. As a result, we see no risk of further anti-dumping duties of this kind,” said Axel Berntsson, President and CEO of Bulten.
Earnings after tax amounted to only SEK 14 million, down from SEK 74 million in Q1 2025. Adjusted earnings after tax was SEK 50 million, down from SEK 74 million.
However, order bookings amounted to SEK 1,314 million, an increase of 1.2% from SEK 1,299 million in the same period last year.
Looking ahead, Berntsson believed that economic and geopolitical uncertainty would still be ahead.
“Our strength in the prevailing circumstances lies in our production being mostly local, which is to say that we manufacture products in the regions where we sell them. Even so, this does not mean we can take things easy. We must continue our concerted efforts to improve profitability, which means increasing sales of higher margin items and diversifying our customer portfolio, as well as close control over our expenses,” he added.
