Bulten's full year report 2021

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Strengthened market position and sales record despite a turbulent year.


  • Net sales amounted to SEK 953 (1,080) million, a decrease of -11.7% on the same period last year. 
  • Operating earnings (EBIT) totaled SEK 48 (92) million, equating to an operating margin of 5.0% (8.5). 
  • Earnings after tax amounted to SEK 32 (63) million. 
  • Order bookings amounted to SEK 871 (1,188) million, a decrease of -26.7% on the same period last year.
  • Cash flow from operating activities totaled SEK 45 (176) million.
  • Earnings per share were SEK 1.16 (2.96).


  • Net sales amounted to SEK 3,730 (3,195) million, an increase of 16.7% on the same period last year. Adjusted for acquisitions, the increase amounted to 14.3%. The acquisition of PSM International took place on February 28, 2020.
  • Operating earnings (EBIT) totaled SEK 232 (116) million, equating to an operating margin of 6.2% (3.6).
  • Earnings after tax amounted to SEK 154 (50) million.
  • Cash flow from operating activities totaled SEK 48 (447) million.
  • Earnings per share were SEK 6.85 (2.66).
  • Net debt amounted to SEK 655 (458) million. Net debt (excluding lease liabilities) totaled SEK 323 (112) million.
  • The equity/assets ratio was 49.3% (49.4) at the end of the period. The equity/assets ratio (excluding lease liabilities) totaled SEK 54.4% (55.2).
  • In May, construction began on a new production plant in Radziechowy-Wieprz, Poland. 
  • In July, a strategically important contract was signed in China with a leading player in consumer electronics. The contract has an estimated annual value of approximately SEK 50 million. Deliveries began in Q3 2021. 
  • In August, an existing Full Service Provider (FSP) contract was extended by a European vehicle manufacturer. The order is worth approximately SEK 68 million a year, and deliveries began in Q4 2021. 
  • In September, an FSP contract was signed with a European vehicle manufacturer, a new customer for Bulten. The contract relates to a new ­electric vehicle that is under development. The contract is worth in the region of SEK 220 million a year at full production. Deliveries are expected to begin in Q3 2022. 
  • In December, Bulten’s existing credit agreement with Handelsbanken was extended by SEK 550 million. This brings the company’s total credit to SEK 1,300 million. 


  • The Board of Bulten AB will propose to the Annual General Meeting a dividend of SEK 2.25 (2.00) per share for 2021.
  • In January, an FSP contract was signed for a new European vehicle program at a global automotive manufacturer. The contract is worth in the region of SEK 100 million a year at full production. Bulten’s clear sustainability offering was a key factor in winning the contract.                                  

“Looking at 2021 as a whole, we grew faster than the market and achieved our highest annual sales ever with SEK 3,730 (3,195) million and an EBIT margin of 6.2% (3.5). This was despite a turbulent year affected by difficulties in the supply chain, significant price rises for raw materials, and a semiconductor shortage that had major consequences for the automotive industry, especially on our main market of Europe, where fewer vehicles were produced in 2021 than in 2020. It is also pleasing to see that sales outside of the automotive market increased by as much as 69% during the year,” says Anders Nyström, President and CEO.                                                                                                                                                                                                                                                                 

Investors, analysts and media are invited to participate in the teleconference on February 10 at 15:30 CET. he report will be presented by President and CEO Anders Nyström and CFO Anna Åkerblad via audiocast.

The presentation will be held in English and can be followed live via the link: https://tv.streamfabriken.com/bulten-q4-2021. It will also be possible to take part of the audiocast afterwards at the same address or at www.bulten.com/ir.

To participate in the teleconference, please call 5 minutes before the opening:
SE: +46850558369
UK: +443333009030 
US: +16467224956

Copies of the presentation will be available at www.bulten.com/ir 30 minutes before start.                                                                                                                                                                                                                                                                                                                                                                                                
For further information, please contact:
Ulrika Hultgren, SVP Corporate Communications & IR, +46 727-47 17 58, ulrika.hultgren@bulten.com

This information is information that Bulten AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 13:30 CET on 10 February 2022.

Bulten Group is a leading global manufacturer and supplier of fasteners to the automotive industry, as well as other customer groups such as consumer electronics and home appliances. The offering extends from a wide range of standard products to specially adapted fasteners. With Bulten’s Full Service Provider concept, customers can entrust all their fastener needs to the company, including development, sourcing, logistics and service. Bulten was founded in 1873, has approximately 1,700 employees in 16 countries and is headquartered in Gothenburg, Sweden. Net sales in 2021 totaled SEK 3,730 million. Since 2020, PSM International has been a part of Bulten. The share (BULTEN) is listed on Nasdaq Stockholm. Read more at ww.bulten.com.