KRISTIANSTAD, Sweden, Aug. 17, 2005 (PRIMEZONE) -- Bong Ljungdahl (Stockholm:BONG):
-- Bong continued its positive earnings trend in the second quarter of 2005 with a profit before tax of SEK 9 (-3 1)) million. For the first six months of 2004, profit before tax was SEK 17 (-3 1)) million and profit after tax was SEK 12 (-2 2)) million.
-- Second quarter volumes were relatively stable compared with the prior year and net sales reached SEK 447 (444) million. Net sales for the first six months reached SEK 900 (934) million.
-- Earnings per share amounted to SEK 0.90 (-0.16 3)).
-- Cash flow after investment activities totalled SEK 18 (21) million for the second quarter and SEK 10 (29) million for the first half of the year.
-- Bong has signed an agreement for the sale of its Danish property. The sale will generate a capital gain of SEK 16 million in the third quarter.
-- A new action programme involving a reduction in staff by around 100 positions was initiated at the start of the third quarter.
For additional information about the interim report, please contact Anders Davidsson, President and CEO of Bong Ljungdahl AB. Telephone (switchboard) +46 (0)44 20 70 00, (direct) +46 (0)44 20 70 80, (mobile) +46 (0)70 545 70 80.
Bong is one of Europe's leading envelope companies. The Group has an annual turnover of approximately SEK 1.8 billion, some 1,300 employees and an annual manufacturing capacity of around 15 billion envelopes at its factories in Sweden, Denmark, Norway, Finland, Poland, Germany, Belgium, the UK and Ireland. Bong has a very strong market position, particularly in Northern Europe, and conducts sales and marketing in eleven European countries through its own sales organisations. The Group sees attractive opportunities for further expansion and development. Bong is a publicly listed company and its shares are quoted on the O list of the Stockholm Stock Exchange.
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