KRISTIANSTAD, Sweden, May 11, 2005 (PRIMEZONE) -- Bong Ljungdahl AB --
-- Bong continued its positive earnings trend in the first quarter of 2005 with a profit before tax of MSEK 9 (0) and a profit after tax of MSEK 6 (-1). The improvement was driven by a stronger gross margin and lower fixed costs.
-- European envelope volumes have declined by an estimated 3-4 per cent year-on-year. At the same time, the Group continued its selective marketing strategy in the first quarter and achieved net sales of MSEK 454 (490).
-- Earnings per share amounted to SEK 0.45 (-0.06).
-- Cash flow after investment activities totalled MSEK -8 (8). The change relative to the prior year is attributable to temporary fluctuations in working capital.
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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