diff --git a/script/bulk_import/phpbb_postgresql.rb b/script/bulk_import/phpbb_postgresql.rb
index 932a96a31b8..3c171424b49 100644
--- a/script/bulk_import/phpbb_postgresql.rb
+++ b/script/bulk_import/phpbb_postgresql.rb
@@ -399,8 +399,6 @@ class BulkImport::PhpBB < BulkImport::Base
 
     text.gsub!(/:(?:\w{8})\]/, ']')
 
-    text = bbcode_to_md(text)
-
     # Some links look like this: <!-- m --><a class="postlink" href="http://www.onegameamonth.com">http://www.onegameamonth.com</a><!-- m -->
     text.gsub!(/<!-- \w --><a(?:.+)href="(\S+)"(?:.*)>(.+)<\/a><!-- \w -->/i, '[\2](\1)')
 
@@ -434,6 +432,8 @@ class BulkImport::PhpBB < BulkImport::Base
       end
     end
 
+    text = bbcode_to_md(text)
+
     text
   end