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Bulten (BULTEN) investor relations material
Bulten Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 was significantly impacted by a major customer's cyber attack, resulting in SEK 200 million in lost sales and substantial profit decline, with similar effects expected in Q4.
A new decentralized organizational structure was launched, including a 10% global workforce reduction and over 200 employees cut, targeting SEK 100 million in annual cost savings.
Several new business wins were secured in automotive, consumer electronics, and electrical/industrial machinery sectors, with contracts worth up to SEK 300 million annually starting from 2026–2027.
Strategic focus is shifting toward high-growth, high-margin markets, niche manufacturing, and value-added services, with less emphasis on contract manufacturing.
Accelerated shift in vertical and product mix supports future growth and diversification.
Financial highlights
Q3 net sales declined by 22.4% year-over-year to SEK 1,034 million, mainly due to the cyber attack and currency effects.
Adjusted EBIT for Q3 was SEK 16 million (1.5% margin), down from SEK 91 million (6.8% margin) a year ago.
Q3 order bookings fell by 38% to SEK 902 million, primarily due to the cyber attack and weaker market.
Q3 earnings after tax: SEK -22 million; adjusted earnings after tax: SEK -14 million.
Net debt at period end: SEK 1,208 million; equity/assets ratio: 39.0%.
Outlook and guidance
The impact of the cyber attack is expected to persist into Q4, with normalization and potential upside anticipated from 2026 as the affected customer catches up on backlog.
Strategic focus is on expanding in medical technology and consumer electronics, moving beyond automotive.
Plans to evolve incentive and governance structures to support a decentralized, customer-centric approach.
The company is preparing for future M&A activity once financial headroom improves.
Q4 is expected to see continued lost sales at a similar scale to Q3 due to ongoing customer recovery.
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