Brief: Bulten Q1 EBIT Turns To Loss of SEK 11 Mln

Bulten AB

28/04/2022 14:34

April 28 (Reuters) - Bulten AB  BULTEN.ST :
    * BULTEN'S Q1 REPORT 2022
    * Q1 NET SALES AMOUNTED TO SEK 1,034 (1,103) MILLION, A
DECREASE
OF -6.3% ON SAME PERIOD LAST YEAR
    * Q1 OPERATING EARNINGS (EBIT) TOTALED SEK -11 (98) MILLION,
EQUATING TO AN OPERATING MARGIN OF -1.1% (8.9)
    * Q1 ORDER BOOKINGS AMOUNTED TO SEK 1,134 (1,010) MILLION,
AN
INCREASE OF 12.2% ON SAME PERIOD LAST YEAR
    * IN APRIL, BULTEN SIGNED AN AGREEMENT TO DIVEST ITS RUSSIAN
OPERATION FOR A PURCHASE SUM EQUATING TO APPROXIMATELY SEK 10
MILLION
    * THE AGREEMENT IS ALSO TO REDEEM RUSSIAN AUTOMOTIVE
MANUFACTURER
GAZ'S SHARES IN JOINT VENTURE OWNED BY BULTEN AND GAZ
    * IN 2022, PRODUCTION OF LIGHT VEHICLES IS ESTIMATED TO
INCREASE
BY 7.1%, WHILE PRODUCTION OF HEAVY VEHICLES IS EXPECTED TO
DECREASE BY -5.2%
    * THE INCREASE IN PRODUCTION FOR BULTEN’S VEHICLE CUSTOMER
MIX,
BASED ON BOTH LIGHT AND HEAVY VEHICLES, IS ESTIMATED TO BE 5.7%
IN 2022
    * ALTHOUGH THIS IS AN INCREASE ON THE PREVIOUS YEAR, WE CAN
EXPECT
ONGOING MARKET UNEASE WHERE THE GEOPOLITICAL SITUATION IS NOW
ANOTHER UNCERTAINTY FACTOR

Source text for Eikon:  ID:nWkr92yF6b 
Further company coverage:  BULTEN.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))