Interim Report January-September 2016
"Sterling devaluation has hit Bong hard since we were not able to pass on price increases to our customers at the same pace as the increasing cost. Bong is continuously decreasing its cost and, meanwhile, putting more and more focus on light packaging business as well as gift bags and paper carrier bags", says Bong’s CEO Stéphane Hamelin.
July – September 2016
• Net sales decreased with 13 percent to SEK 489 million (560)
• Operating profit decreased to SEK -10 million (3)
• Non-recurring items amounted to SEK -7 million (0)
• Adjusted EBIT decreased to SEK -3 million (3)
• Earnings after tax amounted to SEK -25 million (-12)
• Earnings per share amounted to SEK -0.12 (-0.08)
• Cash flow after investing activities amounted to SEK -23 million (-26)
January – September 2016
• Net sales decreased with 10 percent to SEK 1,556 million (1,732)
• Operating profit amounted to SEK -6 million (-6)
• Non-recurring items amounted to SEK -7 million (-24)
• Adjusted operating profit decreased to SEK 1 million (18)
• Earnings after tax amounted to SEK 298 million (-51)
• Earnings per share amounted to SEK 1.44 (-0.33)
• Cash flow after investing activities amounted to SEK 4 million (-80)
Bong is one of the leading providers of specialty packaging and envelope products in Europe and offers solutions for distribution and packaging of information, advertising materials and lightweight goods. Important growth areas in the Group are packaging within retail and e-commerce and the envelope market within Eastern Europe. The Group has annual sales of approximately SEK 2.2 billion and about 1,600 employees in 16 countries.
Bong has strong market positions in most of the important 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 Stockholm (Small Cap).
For further information, please contact Håkan Gunnarsson, CFO for Bong AB. Tel (switchboard) 46 44-20 70 00
This information is information that Bong AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8am CET on November 17 2016.