Interim Report January–March 2013
” The weak economy in Europe, relatively few working days and the appreciation of the Swedish krona against other currencies all had a negative impact on sales and earnings on the first quarter,” says Bong’s President and CEO Anders Davidsson. “The extensive cost-cutting programme announced in the year-end report continues according to plan, and has largely already been carried out. The programme is expected to produce annual savings of about SEK 80 million, of which approximately SEK 60 million will have an immediate impact in 2013.”
- Net sales SEK 677 million (816)
- Propac sales SEK 106 million (120)
- Operating earnings SEK -47 million (30), including nonrecurring
- cost for the new cost-cutting programme of
- SEK -60 million (0)
- Earnings after tax were SEK -47 million (9), including
- non-recurring cost for the new cost-cutting programme
- of SEK -60 million (0)
- Cash flow after investments SEK -16 million (-19)
- Earnings per share SEK –2.71 (0.54)
Presentation of the report
The report will be presented at a teleconference on 23 May at 10:00 a.m.
The conference telephone number is +46 (0)8 5052 0110. Slides for the teleconference will be available on our website www.bong.com on 23 May att 08:00 am.
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 billion and about 2,100 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 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).