Interim Report January – September 2014
“The implementation of Bong’s large restructuring program is proceeding according to plan and we now see a positive cash flow. We are now accelerating the pace to further reduce our costs. The restructuring program will increase the capacity utilization in the most efficient factories in the Group and will not affect the service level which will still be over industry standard.” says Stéphane Hamelin, Bong’s President and CEO.
July – September 2014
- Revenue SEK 601 million (595)
- Cash flow after investing activities SEK 16 million (-19)
- Operating earnings SEK -9 million (-28), including non-recurring cost for restructuring program of SEK -4 million (0)
- Earnings after tax SEK -25 million (-47)
- Earnings per share SEK -0.16 (-0.73)
January – September 2014
- Revenue SEK 1,856 million (1,899)
- Cash flow after investing activities SEK 3 million (-105)
- Operating earnings SEK -70 million (-96), including non-recurring cost for restructuring program of SEK -60 million (-60) and capital gains from sale of property of SEK 6 million
- Earnings after tax SEK - 102 million (-122)
- Earnings per share SEK -0.65 (-3.72)
Bong is a leading provider of specialized 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 Eastern Europe. The Group has annual sales of approximately SEK 2.5 billion and about 1,900 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 and its shares are listed on NASDAQ OMX Stockholm Small Cap.
For further information, please contact Håkan Gunnarsson, CFO for Bong AB.
Tel (switchboard) +46 44-20 70 00 (direct) +46 44- 20 70 82, (mobile) +46 703-15 70 82