2017-02-09 PRESS RELEASE
Strong earnings, cash flow and order bookings.
FOURTH QUARTER
Net sales reached SEK 674 million (667), an increase of 1.0% on the same period last year.
Operating earnings (EBIT) were SEK 52 million (47), which corresponds to an operating margin of 7.7% (7.1).
Earnings after tax were SEK 37 million (24).
Order bookings amounted to SEK 744 million (674), an increase of 10.5% on the same period last year.
Cash flow from operating activities was SEK 122 million (91).
Earnings per share were SEK 1.82 (1.33).
JANUARY – DECEMBERNet sales reached SEK 2,676 million (2,693), down -0.6% on the same period last year.
Operating earnings (EBIT) were SEK 200 million (165), which corresponds to an operating margin of 7.5% (6.1).
Earnings after tax were SEK 146 million (111).
Order bookings amounted to SEK 2,717 million (2,673), an increase of 1.6% on the same period last year.
Cash flow from operating activities was SEK 351 million (141).
Earnings per share were SEK 7.27 (5.61).
Net cash was SEK 30 million (-176) and the equity/assets ratio at the end of the period was 68.9% (64.0).
The Board of Bulten AB proposes to the AGM a total dividend of SEK 4.50 per share for 2016, of which 3.50 SEK (3.25) per share is to be considered as ordinary dividend and 1.00 SEK per share is to be considered as extra dividend.
CEO’S COMMENTS“The year ended strongly with a 10.5% rise in order bookings for the final quarter compared with the same period last year. Bulten’s prospects for winning market share will be good from the second half of 2017, based on signed contracts and also on ongoing discussions with customers.
Bulten continued to perform well in terms of profitability in the fourth quarter and is again reporting strong earnings and cash flow. During the quarter we have further reinforced our financial position and our key indicators, which is very pleasing. The Board therefore proposes the AGM a total dividend of SEK 4.50 per share for 2016, of which 3.50 SEK per share is to be considered as ordinary dividend and 1.00 SEK per share is to be considered as extra dividend. The operating margin increased to 7.7% and the return on capital employed to 13.9%, which are the consequence of a good, even rate of production and of completed optimisation measures.
Being a supplier to the automotive industry is challenging on many levels but we have managed to strengthen our customer relations by, among other things, supplying the best quality and service at the lowest possible cost. We have also advanced our position in technology for electric cars and hybrids.”
Tommy Andersson, President and CEO
Investors, analysts and media are invited to participate in the teleconference on February 9 at 15:30 CET. The report will be presented by Tommy Andersson, President and CEO and Helena Wennerström, Executive Vice President and CFO.
The presentation will be held in English and can be followed live via the link: https://wonderland.videosync.fi/bulten-q4-report-2016. It will also be possible to take part of the audiocast afterwards at the same address or at www.bulten.com/ir.
via Bulten –.