KRISTIANSTAD, Sweden--(BUSINESS WIRE)--Regulatory News:
Bong AB: (STO:BONG)
After the implementation of the huge restructuring plan in the Bong Group the service level towards our customers has now been restored. Given the refinancing of the company, where we decreased our debt with approximately 500 MSEK, we see interesting opportunities to strengthen our market position on the envelope market and also to grow in certain segments within light packaging. The turnaround is already seen in the figures and our goal to make profit on bottom line for 2016 is still valid, says Bong’s CEO Stéphane Hamelin.
January – March 2016
• Net sales decreased with 11 percent to SEK 567 million (639)
• Adjusted EBIT decreased to SEK 11 million (15)
• Non-recurring items amounted to SEK 427 million (-17)
• EBIT improved to SEK 11 million (-2)
• Earnings after tax amounted to SEK 343 million (-20)
• Earnings per share amounted to SEK 1.75 (0.13)
• Cash flow after investing activities SEK 7 million (4)
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 2 pm on 18 May 2016.
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 2.3 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).
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