Year-End report 2008 “We ended the year with a very strong cash flow in the fourth quarter” says Bong's President and CEO Anders Davidsson. “It is satisfying to see how the entire organisation has started adjusting to new routines to reduce our working capital.” • Net sales are reported at SEK 1,937 million (1,991) for the full year 2008 and SEK 508 million (518) for the fourth quarter. • Bong's ProPac packaging line showed continued rapid growth and accounted for SEK 238 million (200) of the Group's total sales in 2008. • Operating profit for 2008 improved to SEK 74 million (60) and profit after tax was SEK 10 million (16). Diluted earnings per share amounted to SEK 0.78 (1.17). Operating profit for the fourth quarter was SEK 20 million (25). • Cash flow after investing activities for 2008 was very strong and amounted to SEK 144 million (1), mainly due to a reduction in the Group's working capital by SEK 108 million. For the fourth quarter, cash flow after investing activities was SEK 87 million (39). • On 31 December Bong raised its holding in the German envelope printer Lober from 50% to 70%. • The Board of Directors proposes a dividend of SEK 1 per share (1) for the financial year 2008. For additional information, 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 a leading European provider of specialised packaging and envelope products and offers solutions for distribution and packaging of information, advertising materials and lightweight goods. Two strong growth areas in the Group are the new ProPac packaging concept and Russia, where Bong has recently established its own manufacturing facility and sales organisation. The Group has annual sales of approximately SEK 2 billion and some 1,200 employees in Sweden, Norway, Denmark, Finland, Estonia, Latvia, Lithuania, the UK, the Netherlands, Belgium, Germany, Poland and Russia. Bong has a strong market position, particularly in Northern Europe, and the Group sees attractive opportunities for further expansion and development. Bong is a publicly listed company and its shares are quoted on the OMX Nordic Stock Exchange Stockholm (the Stockholm Stock Exchange).
Year-End report 2008
| Source: Bong AB