KRISTIANSTAD, Sweden, Nov. 9, 2005 (PRIMEZONE) -- Continued earnings growth for Bong:
-- Bong continued its positive earnings trend in the third quarter of 2005 with an adjusted profit before tax of SEK 11 (8) million.
-- Adjusted profit before tax the first nine months of 2005 was SEK 28 (5) million. Including non-operating one-time items, profit after tax was SEK 15 (48) million.
-- Earnings per share after dilution amounted to SEK 1.51 SEK (0.23).
-- Bong's productivity improvement programme was carried out according to plan during the third quarter and the Group's Danish real estate was sold. Costs for the programmed totalled SEK 24 million and were charged directly to profit. The sale of the real estate generated a capital gain of SEK 16 million.
-- Net sales for the third quarter reached SEK 412 (418) million. For the first nine months, net sales amounted to SEK 1 312 (1 353) million.
-- Third quarter cash flow was strong and amounted to SEK 60 (35) million, of which SEK 34 million was attributable to the sale of the Danish property. Cash flow for the first nine months totalled SEK 69 (64) million.
-- To meet rising demand in Eastern Europe and Russia, Bong began setting up a manufacturing unit in Russia during the third quarter and expects to start production in the first quarter of 2006.
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 U.K. 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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