Acquisition in
Second quarter
- Net sales amounted to
SEK 1,416 (1,006) million, an increase of 40.8% on the same period the previous year. -
Operating earnings (EBIT) totaled
SEK 50 (41) million, equating to an operating margin of 3.5% (4.1). -
Adjusted operating earnings totaled
SEK 58 (51) million, equating to an adjusted operating margin of 4.0% (5.0). Operating earnings have been charged with transaction costs ofSEK -8 million attributable to the acquisition ofExim & Mfr Holdings Pte Ltd ("Exim"). The corresponding quarter of the previous year was adjusted by approximatelySEK -10 million , related to winding-up costs for Bulten's operation inRussia . -
Earnings after tax amounted to
SEK 43 (22) million. Adjusted earnings after tax amounted toSEK 51 (32) million. -
Order bookings amounted to
SEK 1,476 (1,289) million, an increase of 14.4% on the same period the previous year. -
Cash flow from operating activities totaled
SEK 46 (-19) million. -
Earnings per share were
SEK 1.82 (0.88). Adjusted earnings per share wereSEK 2.20 (1.32).
January - June
- Net sales amounted to
SEK 2,803 (2,040) million, an increase of 37.4% on the same period the previous year. -
Operating earnings (EBIT) totaled
SEK 166 (30) million, equating to an operating margin of 5.9% (1.5). -
Adjusted operating earnings totaled
SEK 174 (123) million, equating to an adjusted operating margin of 6.2% (6.0). Operating earnings have been charged with transaction costs ofSEK -8 million attributable to the acquisition ofExim & Mfr Holdings Pte Ltd ("Exim"). The corresponding quarter of the previous year was adjusted by approximatelySEK -93 million , related to winding-up costs for Bulten's operation inRussia . -
Earnings after tax amounted to
SEK 122 (-17) million. Adjusted earnings after tax amounted toSEK 130 (76) million. -
Cash flow from operating activities totaled
SEK 242 (75) million. -
Earnings per share were
SEK 5.38 (-1.02). Adjusted earnings per share wereSEK 5.76 (3.38). -
Net debt amounted to
SEK 812 (777) million. Net debt, excluding lease liabilities, totaledSEK 301 (446) million. - The equity/assets ratio was 45.9% (47.3) at the end of the period. The equity/assets ration, excluding lease liabilities, totaled 51.9% (51.9).
Significant events after the end of the reporting period
- On
July 6 , Bulten entered into an agreement to acquire all shares inExim & Mfr Holdings Pte Ltd ("Exim"), an Asian,Singapore -based distributor of fasteners and other components, for a purchase sum of approximatelySGD 66.3 million (SEK 530 million ) on a cash-free and debt-free basis. The acquisition affords Bulten a good platform to grow in new sectors, where the distribution stage is a pivotal sales channel.
"Demand has been strong over the past quarter. High sales volumes combined with the product mix, however, forced extraordinary measures that had a negative impact on operating profit. Shortly after the end of the quarter we signed an agreement to acquire a distribution company, which will provide a good platform for Bulten to grow in new sectors," says Anders Nyström, President and CEO at Bulten.
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https://mb.cision.com/Main/405/3803017/2184274.pdf
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