Bulten (BULTEN) investor relations material

Executive summary

• Continuing operations recorded Q3 sales of SEK 831 million, EBIT of SEK 67 million and an 8.1% margin; 9M EBIT rose to SEK 188 million from SEK 125 million on nearly unchanged sales.

• European and Tianjin contract manufacturing divestments refocused the portfolio on precision manufacturing and full-service C-parts solutions.

Financial highlights

• Q3 net sales rose 40.7% YoY to SEK 831 million; currency-adjusted growth was 37.6%.

• Q3 EBIT was SEK 67 million, up SEK 55 million YoY, with an 8.1% margin versus 2.0%; gross profit was SEK 199 million and EBITDA SEK 82 million.

• 9M net sales were SEK 2,389 million, up 0.2% reported and flat adjusted for currency; EBIT was SEK 188 million versus SEK 125 million, with a 7.9% margin versus 5.2%.

• Continuing-operations net income was SEK 31 million in Q3 and SEK 108 million in 9M; continuing EPS was SEK 1.07 and SEK 4.09, respectively.

• Operating cash flow was SEK 70 million in Q3 versus SEK 163 million; 9M operating cash flow was SEK 106 million versus SEK 320 million.

Outlook and guidance

• Priorities include sustaining profitability, accelerating profitable growth, improving cash conversion, deepening customer relationships and pursuing higher-value business.

• New financial targets will reflect the post-divestiture structure; a Capital Markets Day is expected in close connection, with no target timing set.

• India expansion and technology-related opportunities, including AI infrastructure, are growth priorities; Chennai equipment installation is expected in Q4, with operations targeted to begin early next year.

• Management expects stable automotive volumes and sees potential for margin improvement as higher-margin non-automotive business expands.