KRISTIANSTAD, Sweden--(BUSINESS WIRE)--Regulatory News:
Bong (STO:BONG) has successfully implemented its ambitious restructuring plan. Fixed costs have been drastically reduced and our factories are now running at full capacity. Despite increased inventories during the restructuring program, Bong’s service was in some cases not at the expected level; It is now restored. The recent closures of many envelope grade paper mills have resulted in continuous price increases from our suppliers. Bong is successfully passing them on to the market. In the new packaging organisation, the gift bag is performing well and we see a promising growth, says Bong’s CEO Stéphane Hamelin.
July – September 2015
· Net sales decreased with 7 percent to SEK 560 million (601)
· Adjusted EBIT increased to SEK 3 million (-5)
· Non-recurring items amounted to SEK 0 million (-4)
· EBIT improved to SEK 3 million (-9)
· Earnings after tax amounted to SEK -12 million (-25)
· Earnings per share amounted to SEK -0.08 (-0.16)
· Cash flow after investing activities SEK -26 million (16)
January – September 2015
· Net sales decreased with 7 percent to SEK 1,732 million (1,856)
· Adjusted EBIT increased to SEK 18 million (-16)
· Non-recurring items amounted to SEK -24 million (-54)
· EBIT improved to SEK -6 million (-70)
· Earnings after tax amounted to SEK -51 million (-102)
· Earnings per share amounted to SEK -0.33 (-0.65)
· Cash flow after investing activities SEK -80 million (3)
This information is of the kind that Bong AB (publ) are obliged to publish pursuant to the securities market act and/or the act on trade with financial instruments. The information was given for publication at 8 am on 19 November 2015.
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 2.4 billion and about 1,700 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).
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