Interim Report January – June 2012
“During the first half of the year we achieved results before restructuring costs that are in line with last year, despite more challenging market conditions,” says Bong’s President and CEO Anders Davidsson. “To ensure our continued recovery of profitability, we have implemented powerful new restructuring measures that will provide lower costs in the second half.”
April – June 2012
- Net sales SEK 712 million (747)
- ProPac sales SEK 108 million (118)
- Operating profit SEK -19 million (16), including restructuring costs of SEK 40 million and capital gains of SEK 17 million
- Profit after tax SEK -27 million (-2)
- Cash flow after investments SEK -3 million (37)
- Earnings per share SEK -1.54 (-0.09)
- New restructuring program provides cost-savings of SEK 30-35 million on an annual basis; non-recurring cost of SEK 40 million charged to the second quarter
January – June 2012
- Net sales SEK 1,528 million (1,602)
- ProPac sales SEK 228 million (236)
- Operating profit/loss SEK 12 million (42), including restructuring costs of SEK 40 million and capital gains of SEK 17 million
- Profit after tax SEK -17 million (7)
- Cash flow after investments SEK -23 million (67)
- Earnings per share SEK -1.00 (0.40)
Bong is a leading provider of specialised packaging and envelope products in Europe, offering solutions for distribution and packaging of information, advertising materials and lightweight goods. Important growth areas in the Group are the ProPac packaging concept and Russia. The Group has annual sales of approximately SEK 3.2 billion and about 2,300 employees in 15 countries. Bong has strong market positions in the majority of key markets in Europe, and the Group sees interesting possibilities for continued expansion and development. Bong is a public limited company whose stock is quoted on the NASDAQ OMX Nordic Stock Exchange Stockholm (Small Cap).
For further information, please contact Anders Davidsson, President and CEO, Bong AB.
+46 (0)40 17 60 00 (main exchange), +46 (0)40 17 60 05 (direct line), +46 (0)70 545 70 80 (mobile).