Bulten (BULTEN) investor relations material

Executive summary

• Q2 results were broadly in line with the prior year and previous quarter, with strong sales in medical technology and consumer electronics offsetting lower automotive volumes.

• Strategic review launched to assess organizational footprint, production structure, and future growth beyond automotive.

• Disciplined cost management and targeted operational expense reductions led to improved EBIT despite lower net sales.

• Investments made in production capacity, including new facilities and machinery in Sweden and Poland.

• Signed a strategic agreement in Europe with a leading Tier 1 supplier, introducing a vendor managed inventory solution.

Financial highlights

• Net sales declined by 8.8% year-over-year, mainly due to lower automotive volumes.

• Adjusted EBIT for Q2 was SEK 69 million, with a 5.2% margin, consistent with last year.

• Adjusted earnings per share was SEK 1.00 for Q2; cash flow from operating activities was SEK 127 million.

• Net debt at period end was SEK 1,382 million; equity/assets ratio was 38.5%.

• CapEx as a percentage of sales was 4.1%, above guidelines due to catch-up investments.

Outlook and guidance

• Focus shifting to high-growth, high-margin markets such as medical technology and consumer electronics, with new M&A strategy and updated financial targets under development.

• Plans to broaden sales beyond automotive and expand in North America and Asia.

• Q3 expected to be seasonally weaker due to customer plant shutdowns, but order intake drop in Q2 was temporary and has recovered.

• No specific financial projections or net debt forecasts provided for the remainder of the year.

• Confident outlook for upcoming quarters, with further details to be presented after strategy review completion.