Brief: Bulten Q1 EBIT Down At SEK 43 Mln

Bulten AB

23/04/2020 12:34

April 23 (Reuters) - Bulten AB  BULTEN.ST :
    * BULTEN'S Q1 REPORT 2020
    * Q1 NET SALES AMOUNTED TO SEK 821 (810) MILLION, AN
INCREASE OF
1.4% ON SAME PERIOD LAST YEAR
    * Q1 OPERATING EARNINGS (EBIT) TOTALED SEK 43 (58) MILLION,
EQUATING TO AN OPERATING MARGIN OF 5.2% (7.1).
    * Q1 ORDER BOOKINGS TOTALED SEK 688 (733) MILLION, A
DECREASE OF
-6.1% ON SAME PERIOD LAST YEAR.
    * DURING MARCH MOST OF BULTEN'S CUSTOMERS CLOSED DOWN THEIR
PRODUCTION UNITS IN EUROPE AND NORTH AMERICA.
    * BULTEN'S BOARD HAS DECIDED TO WITHDRAW ITS PROPOSAL TO PAY
A
DIVIDEND OF SEK 4.00 PER SHARE.
    * YEAR STARTED OFF STRONGLY FOR BULTEN AND WAS IN LINE WITH
HIGH
ORDER INTAKE AT END OF 2019
    * HAS HAD SIGNIFICANTLY LOWER PRODUCTION AND SALES THAN
PLANNED
DURING Q1.
    * IT IS NOT POSSIBLE TO PREDICT AT THIS TIME HOW VEHICLE
PRODUCTION WILL BE AFFECTED DURING YEAR
    * AT END OF QUARTER VEHICLE PRODUCTION IN CHINA STARTED TO
RECOVER
FROM COVID-19 SITUATION, BUT HAS STILL NOT REACHED PREVIOUS
LEVELS
    * WHILE 2020 WILL BE A CHALLENGE, WE ARE STICKING TO OUR
STRATEGY
AND OUR AMBITIOUS GOALS

Source text for Eikon:  ID:nWkr3wKgH 
Further company coverage:  BULTEN.ST 

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