Overview
Swedish fastener manufacturer's Q4 net sales fell 15.7% yr/yr but beat expectations
Adjusted EBIT for Q4 improved despite restructuring costs
Company faced challenges from cyberattack on major customer, saw recovery in Q4
Outlook
Company sees recovery in volumes towards normal levels after cyberattack impact
Bulten focuses on selected customer relationships and value-added offerings
Result Drivers
CYBERATTACK IMPACT - Co faced pressure on volumes and margins due to a cyberattack on a major customer but saw recovery towards the end of Q4
RESTRUCTURING COSTS - Restructuring costs negatively impacted operating earnings by SEK 7 mln
STRATEGIC PROGRESS - Co made commercial progress with focus on selected customer relationships and value-added offerings
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Sales
Beat
SEK 1.24 bln
SEK 1.12 bln (1 Analyst)
Q4 EPS
-SEK 0.26
Q4 Net Income
SEK 5 mln
Q4 EBIT
Beat
SEK 30 mln
SEK 20 mln (1 Analyst)
Q4 EBIT Margin
2.40%
Q4 Orders
SEK 1.50 bln
Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy."
Wall Street's median 12-month price target for Bulten AB is SEK60.00, about 20.5% above its February 2 closing price of SEK49.80
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 8 three months ago
Press Release: ID:nMFN8GYnvD
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)