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Bulten Finishes 2103 Strongly and Anticipates Good Growth
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2014-05-29
The Bulten division of FinnvedenBulten reported 2013 sales at SEK 1,811 million, up 5.9% on 2012. At SEK 474.4 million fourth quarter sales were 21% up on the corresponding quarter in 2012. Full year adjusted operating profit (EBIT) for Bulten was SEK 112.4 million compared with SEK 81.5 million in 2012.
The Group noted that the Bulten division continued to perform well with improved profitability, higher sales and strong order books. It continued to gain market share, mainly through delivering its Full Service Provider concept. Bulten expects to achieve considerable organic growth from new annual business signed in 2013, which is worth around SEK 500 million at full pace, expected to be achieved by 2015. It also expects to benefit from a planned production start in Russia. During Quarter 4 Bulten also signed a “strategically important contract” worth around SEK 10 million to deliver fasteners to a Chinese automotive maker.
During 2013 Bulten established a logistics hub in the U.S. and strengthened its logistics capability in the UK with a new 10,000 square metre centre, with a central warehouse and offices at a new site in Scunthorpe close to its previous location. FinnvedenBulten says: “The conditions for organic growth on the global automotive market are continued good”. It also said that “to establish a sharper business focus and clarify the value in each division the board and management have initiated a split of the Group during 2014”. For 2013 FinnvedenBulten in total achieved sales of SEK 3,061 million, 3.3% up year on year. EBIT for the whole group was SEK 144.1 million up 40.8% year on year. (Exchange: 1,000 SEK is approximately 112 euros)
