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Streamlining and an earlier FSP contract mitigated the effects of negative macroeconomic factors  


  • Net sales amounted to SEK 910 (441) million, an increase of 106.2% on the same period last year. 
  • Operating earnings (EBIT) totaled SEK 55 (-59) million, equating to an operating margin of 6.0% (-13.3). 
  • Earnings after tax amounted to SEK 38 (-39) million. 
  • Order bookings amounted to SEK 947 (409) million, an increase of 131.7% on the same period last year.
  • Cash flow from operating activities totaled SEK 32 (51) million.
  • Earnings per share were SEK 1.80 (-1.85).
  • In May, Bulten started the construction of a new manufacturing facility in Radziechowy-Wieprz in Poland. 


  • Net sales amounted to SEK 2,013 (1,262) million, an increase of 59.5% on the same period last year. Adjusted for acquisitions, the increase amounted to 53.3%. The acquisition of PSM took place on February 28, 2020.
  • Operating earnings (EBIT) totaled SEK 153 (-16) million, equating to an operating margin of 7.6% (-1.2).
  • Earnings after tax amounted to SEK 106 (-30) million.
  • Order bookings totaled SEK 1,957 (1,097) million, an increase of 78.4% on the same period last year.
  • Cash flow from operating activities totaled SEK 125 (114) million.
  • Earnings per share were SEK 5.01 (-1.26).
  • Net debt amounted to SEK 438 (634) million. Net debt (excluding lease liabilities) totaled SEK 94 (371) million.
  • The equity/assets ratio was 51.6% (54.4) at the end of the period. The equity/assets ratio (excluding lease liabilities) totaled SEK 57.6% (59.4).


“The progressive recovery that characterized the global automotive market from the second half of 2020 was interrupted during the second quarter of this year. The shortage of semiconductors is now a clearly inhibiting factor for production across the automotive industry, something both we and others in the industry have warned of previously. Underlying demand in the consumer stage remains strong, but at present vehicle production cannot keep up with demand. 

Bulten’s net sales did increase by 106.2%, but the comparison quarter was severely affected by the pandemic. Compared to Q1 2021, which was more representative of Bulten’s performance in a normalized market, net sales fell by 17.5%, due to lower production among customers during the quarter. The new Full Service Provider (FSP) contract that was signed during 2020, alongside streamlining and realized synergetic effects, largely compensated for lower capacity utilization and higher steel prices.  

The shortage of semiconductors, along with price rises for steel and shipping, are three macroeconomic and partly geopolitical factors that have resulted in an extreme situation for the entire global industry. These factors are expected to have a further negative impact on Bulten’s sales and margins during the second half of 2021. We are continuing to focus on what we can control, and are continuing to strengthen Bulten’s position and offering.         

May also saw construction begin on our new production unit in Radziechowy-Wieprz, Poland, with production start-up planned for the first half of 2023. This will give Bulten a facility with world-class surface treatment processes in terms of efficiency, quality, and sustainability. The facility is a vertical integration of our existing plant in Bielsko-Biala, and will further strengthen our competitiveness.
We see good opportunities during the remainder of 2021 to take market share and grow, both within and outside of the automotive industry.”        

Anders Nyström, President and CEO


Investors, analysts and media are invited to participate in the teleconference on July 13 at 11:00 CET. The 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-q2-2021. 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: +46850558350

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
Tel:+46 72-747 17 58, e-mail:ulrika.hultgren@bulten.com

This information is information that Bulten AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CET on 13 July 2021.


Bulten Group is one of the leading suppliers of fasteners to the international automotive industry. The company’s product range includes everything from customer-specific standard products to customized special fasteners. The company also provides technical development, line-feeding, logistics, material and production expertise. Bulten offers a Full Service Provider concept or parts thereof. The company was founded in 1873, has some 1,600 employees in sixteen countries and head office in Gothenburg. The share (BULTEN) is listed on Nasdaq Stockholm. Read more at www.bulten.com.




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