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The Bulten division of FinnvedenBulten reported net sales for 2013 Q2 at SEK 481.2 milion (55 million euros), up 5.1% on 2012 Q2. EBIT was SEK 40 million, compared to SEK 16.5m up on 2012 Q2. Operating margin increased to 8.3% from 5.1%. First half sales were SEK 901.8 million, down 3.3% on the same period of 2012. EBIT was SEK 60.3 million, compared with SEK 51.9 million in 2012 H1. Operating margin for the half year was 6.7%, up 1.1% on 2012 H1.

Renovation of the building for Bulten‘s plant in Russia has started and its plant in China has started deliveries. Savings and efficiency measures to reduce tied-up capital and costs, as well as increasing capacity utilization, are credited with the improvements in 2013 Q2. Overall Finnveden Group sales were down for the half-year at SEK 1.5 billion. EBIT halved to SEK 40.3 million. Profitability problems in the Finnveden Metal Structures foundry business continued to be an issue and previously announced restructuring is in process. Three quarters of group business relates to car production, the balance to heavy commercials. Quoting IHS Automotive figures FinnvedenBulten expects 2013 western European car sales to fall by 3.9% and heavy vehicle sales by 6.0% compared with 2012.