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Bulten (BULTEN) investor relations material
Bulten Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q4 volumes recovered faster than expected after a major customer cyberattack, with business stabilizing by the end of the quarter, though volumes remained below last year.
Full-year net sales declined 13.1% year-over-year to SEK 5,045 million, impacted by a cyberattack, currency effects, and anti-dumping fees.
Strategic reorganization into decentralized, self-sufficient business units was completed, supporting resilience and a shift toward non-automotive segments.
Focus is shifting toward non-automotive sectors, such as consumer electronics and medical equipment, to diversify revenue streams.
Strategic focus on selected customer relationships and value-added offerings supported commercial progress, especially in Europe and Asia.
Financial highlights
Q4 net sales were SEK 1,243 million, down 15.7% year-over-year; full-year net sales SEK 5,045 million, down 13.1%.
Adjusted EBIT for Q4 was SEK 37 million (3.0% margin), up from SEK 20 million (1.4% margin) last year.
Full-year EBIT was SEK 141 million (2.8% margin); adjusted EBIT SEK 211 million (4.2% margin).
Currency headwinds, especially a stronger SEK, and anti-dumping fees significantly reduced annual profit.
Cash flow from operating activities for the year was SEK 429 million, up from SEK 319 million in 2024.
Outlook and guidance
Management expects the negative impact from the cyberattack to be short-term, with recovery anticipated in 2026.
No dividend proposed for 2025 to prioritize strategic investments and strengthen financial position.
Plans to further increase the share of non-automotive business, aiming for it to become the majority of revenue.
Continued focus on operational efficiency, cost discipline, and capital efficiency to support future growth and cash generation.
Further improvements in inventory management and working capital are expected in 2026.
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