Year-end report January-December 2018
2018 was a challenging year for the envelope industry since we experienced one of the most drastic paper price increases in recent history. Overall we were relatively successful in passing on those price increases to our customers and to maintain our gross margins. However in some cases we had to accept time delays due to long term customer contracts which negatively affected our gross profit in 2018. In my opinion Bong managed this tough year operationally better than its competitors. Currently we see first signs of an easing on the supply side situation since paper prices seem to have