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Sweden's Bong Q3 net sales decline, losses narrow

By Reuters News


Overview

  • Sweden envelope and packaging firm's Q3 net sales declined year-over-year

  • Company's Q3 operating loss narrowed compared to last year

  • Q3 net loss narrowed from the prior year


Outlook

  • Company sees opportunities for continued development in its markets

  • Company identifies packaging in retail, e-commerce, and Eastern Europe envelopes as growth areas


Result Drivers

  • PRICE PRESSURE AND ENVELOPE DECLINE – Currency-adjusted Q3 sales fell 3.9%, mainly on lower prices and weaker envelope demand, significantly reducing gross margin

  • WORKING-CAPITAL OUTFLOW – Nine-month operating cash flow turned negative as working capital reduced cash flow by SEK 29 mln


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

SEK 427 mln

Q3 Loss Per Share

SEK 0.04

Q3 Net Loss

SEK 14 mln

Q3 EBIT

-SEK 3 mln


Reuters Recommended Reads

  • Nov 3 - Sweden's Embellence Q3 net sales rise 3% on DTC growth

  • Nov 4 - Sweden's Rugvista Q3 net revenue rises on high order volume

  • Nov 3 - Graphic Packaging Q3 sales, adjusted EPS slightly beat estimates


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.)

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