Ambitious targets
and well-defined strategies

Supported by the year’s acquisitions and the merger, Bong is now even more oriented towards expanding in its target growth areas and enhancing profitability in the envelope business.
In order to strengthen its position as the European leader in specialised packaging and envelopes, Bong will:
Enhance the customer value proposition: Bong will develop the envelope and packaging solutions of the future
Increase productivity
Advance its positions in overprinted envelopes
Continue developing its strong positions in selected growth markets, such as Russia
ProPac – further develop the range, intensify marketing and expand availability to all geographic markets
Exploit the opportunities for cross selling created by the merger – this applies equally to ProPac, DM and consumer packaged envelopes
Financial targets
In 2009, Bong set the following financial targets for 2009–2011:
Debt-to-EBITDA ratio of 3.0 or below at year-end 2011
Operating margin of 6 percent at year-end 2011
Average annual growth of 25 percent for ProPac
New financial targets are in the process of being set after the merger with Hamelin.
Dividend policy
Bong will pay dividend corresponding to at least one third of reported profits after tax if justified by the company’s financialposition and development opportunities.
ProPac
Bong will further develop the ProPac range through continued investments in product development, marketing and the sales organisation.
Overprinting
Bong will develop its position in Europe in overprinting – printing on finished envelopes. Current operations will be supplemented with overprinting plants in countries and regions where Bong is not currently doing business. The goal is a network of printers in Europe built up through organic growth and acquisitions. Bong focuses on customers with high demands for availability, supply capacity and printing quality.
Strategic direction
The goal is profitable and expanding operations in Europe in packaging and envelopes. Bong’s targeted growth areas are ProPac, Overprinting and Russia and Eastern Europe.
Envelopes in Russia and eastern europe
Bong will continue exploiting the advantages of its expertise and extensive machinery in Western Europe to strengthen its presence in growing envelope markets, such as Russia and the Baltic countries.
Envelopes in western europe
For the envelope business in Western Europe, the priorities are higher gross margins and efficiency across the board. Cash generated by the mature envelope business will be invested in the target areas of ProPac, Overprinting and Russia/Eastern Europe.

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