Bong’s consolidated sales for January – September 2016 reached SEK 1,556 million ($168 million). Exchange rate fluctuations had a negative impact on sales of SEK -39 million ($4.2 million) compared with 2015. The main reason for the drop in sales is the continued downturn in the envelope market, which resulted in both lower volumes and pricing pressures which had a negative impact on Bong’s gross earnings, as the company says in the press release received by Lesprom Network.
Despite lower sales, operating profit equaled last year SEK -6 million($649,139), due to the new lower cost structure after the restructuring programs.
3Q 2016 net sales decreased by 13% to SEK 489 million ($53 million), compared to SEK 560 million ($60.6 million) in 3Q 2015. Exchange rate fluctuations had a negative impact on sales of SEK -10 million ($1 million) compared with 2015.
3Q operating profit decreased to SEK -10 million ($1 million).
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.
