Swedish envelope maker Bong's Q2 loss widens on higher paper, energy costs
Swedish envelope maker Bong's Q2 loss widens on higher paper, energy costs
Overview
Sweden envelope and packaging firm's Q2 net sales fell yr/yr, operating profit declined
Company posted wider Q2 net loss and negative earnings per share
Company highlights growth in packaging for retail and e-commerce
Outlook
Company did not provide specific financial guidance for the current quarter or full year
Result Drivers
ENVELOPE MARKET DECLINE – Currency-adjusted sales fell 4%, mainly due to price pressure and declining envelope demand, while gross margin edged lower
INPUT-COST INFLATION – Higher paper, energy and transport costs compounded shrinking envelope volumes, keeping the business environment challenging
WORKING-CAPITAL OUTFLOW – Operating cash flow fell to SEK3 mln from SEK47 mln as inventory absorbed SEK33 mln and operating liabilities reduced cash by SEK2 mln
Company press release: ID:nWkr1ZdCmL
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| SEK 393 mln |
|
Q2 Loss Per Share |
| SEK 0.11 |
|
Q2 Net Loss |
| SEK 24 mln |
|
Q2 EBITDA |
| SEK 6 mln |
|
Q2 EBIT |
| -SEK 12 mln |
|
Reuters Recommended Reads
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Aug 26 - Hong Kong's Hung Hing Printing H1 loss widens on higher administrative, selling costs
Aug 26 - EU says UPM-Sappi deal could hurt competition in print paper market
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)