Bulten has reported a quarter of higher sales and ongoing capacity challenges – although acquisitions create opportunities for the company.
For Q3, net sales amounted to SEK 1,378 (1,095) million, an increase of 25.9% on the same period the previous year. Operating earnings (EBIT) totalled SEK 31 (47) million, equating to an operating margin of 2.3% (4.3).
Order bookings amounted to SEK 1,566 (1,033) million, an increase of 51.8% on the same period the previous year.
On August 31, Bulten completed the acquisition of Exim & Mfr Holdings Pte Ltd (“Exim”), an Asian, Singapore-based distributor of fasteners and other components, and annual sales of about SGD 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.
For the period January to September, net sales amounted to SEK 4,181 (3,135) million, an increase of 33.4% on the same period the previous year.
“The acquisition of Asian distribution company Exim brings business opportunities in new customer groups. We had the highest ever Q3 sales in Bulten’s history. Capacity-boosting measures have produced results, if later than anticipated, and have burdened the quarterly figures,” said Anders Nyström, President and CEO.