Bulten has released its report for Q2 2024. The fastener manufacturer and distributor has reported net sales of SEK 1,466 (1,416) million for the second quarter, an increase of 3.5% on the same period the previous year.
Operating earnings (EBIT) totaled SEK 74 (50) million, equating to an operating margin of 5.1% (3.5). Earnings after tax amounted to SEK 40 (43) million. Adjusted earnings after tax amounted to SEK 40 (51) million.
For the period January to June 2024, the group had net sales amounted to SEK 2,999 (2,803) million, an increase of 7.0% on the same period the previous year.
Operating earnings (EBIT) totaled SEK 190 (166) million, equating to an operating margin of 6.3% (5.9). Earnings after tax amounted to SEK 114 (122) million. Adjusted earnings after tax amounted to SEK 114 (130) million.
Commenting on the results, Christina Hallin, Interim President and CEO said, “Sales were strong again in Q2, although slightly lower than in the first quarter. Even so, the financial result did not match expectations. This is mainly due to continued volatile demand from our automotive customers in Europe, as well as the hardening furnace breakdown in Poland earlier in the year, which had a negative impact on productivity.”
The report is available on Bulten’s website: https://www.bulten.com/en/IR?
