Bulten’s Q1 report 2015

Continued strong growth and improved earnings
– operating margin affected by currency revaluation
FIRST QUARTER

  · Net sales reached SEK 713 million (581), up 22.7% on the same period last
year.
  · Operating earnings (EBIT) were SEK 36 million (33), which corresponds to an
operating margin of 5.1% (5.7).
  · Earnings after tax were SEK 29 million (23).
  · Orders received amounted to SEK 660 million (632), up 4.4% on the same
period last year.
  · Cash flow from operating activities was SEK 49 million (-26).
  · Earnings per share were SEK 1.44 (1.09).
  · Net cash was SEK 95 million (-250) and the equity/assets ratio at the end of
the period was 67.7% (51.9).

“Once more Bulten is reporting a period of strong sales growth, good orders
received and high capacity utilisation. Growth was mainly driven by two
extensive FSP contracts that went into production in Q1, 2014 and in the middle
of Q2, 2014, and the supplementary order we received in the autumn. A general
improvement in demand for light vehicles in Europe also had a positive effect on
the Group’s net sales. During the quarter we signed several new, smaller
contracts. Some of them concern the operation in Russia, a joint venture between
Bulten and GAZ, and we therefore continue to broaden our customer base beyond
the original GAZ business.

Bulten’s unit in Russia was also appointed by The Adam Smith Institute as Best
Market Newcomer in 2014 on the Russian market for auto components in 2014, which
is very pleasing and has generated a lot of positive exposure and publicity for
Bulten within the Russian automotive industry. The prize was awarded at The Adam
Smith Forum in Moscow in March 2015.

Earnings have improved, but our operating margin of 5.1% was however negatively
affected by exchange rates when translating working capital at closing day
rates, which does not mean a long-term impact on our profitability or
competitiveness. Excluding currency effects of around SEK 13 million, our
operating margin was 6.9%. Following the Group’s strong growth, we will continue
to optimise flows to improve profitability during 2015.

Car sales in Europe (EU and EFTA) rose by 8.6% during the quarter according to
ACEA’s statistics. We will continue to invest in logistics and existing
production to meet good demand for our products and our FSP concept. We also see
good potential to further increase our market shares and strengthen our market
position.”

Tommy Andersson, President and CEO

Investors, analysts and media are invited to participate in the teleconference
on April 29 at 14:30 CET when the report will be presented by Bulten’s President
and CEO Tommy Andersson and the company’s EVP and CFO Helena Wennerström.

To participate, please call 5 minutes before the opening of the conference call
to Sweden +46 8 5055 6453, UK +44 2030 092 455, US +1 855 228 3719. Code:
215394#.

Copies of the presentation will be available at www.bulten.com at approximately
30 minutes before start. The full report is attached to this press release.

A replay of the telephone conference is available until May 13, 2015 on the
phone numbers Sweden +46 8-5055 6444, UK +44 2033 645 943, USA +1 866 286 6997.
Code: 363242#.

For further information, please contact:

Tommy Andersson, President and CEO
Tel: + 46 31-734 59 00

Kamilla Oresvärd, Senior Vice President Corporate Communications
Tel: +46 70-520 59 17, e-mail: kamilla.oresvard@bulten.com

Bulten discloses the information provided herein pursuant to the Securities
Market Act and/or the Financial Instruments Trading Act. The information was
submitted for publication at 13:30 CET on April 29, 2015.

Bulten is one of the leading suppliers of fasteners to the international
automotive industry. The company’s product range includes everything from
customer-specific standard products to specialist, customized fasteners. The
company also provides technical development, line-feeding, logistics, material
and production expertise. Bulten offers a Full Service Provider concept or parts
thereof. Bulten AB (publ):s share is listed on Nasdaq Stockholm. Read more at
www.bulten.com.