Elopak’s third quarter: Record high quarterly revenues

Elopak ASA reports all-time high quarterly revenues in Q3-2024 with EBITDA margin at 15.5 %. The revenue growth comes from Pure-Pak® carton and closure volume growth in Europe and Americas, both through new business and increased market share, as well as strong filling machine sales. Revenue for the full year is expected to be in line with the current run rate, with an EBITDA margin above 15 %.

Q3 2024 highlights:

All-time-high quarterly revenues of EUR 292.8 million (EUR 283.5 million) with an organic revenue growth of 3.6 %

Continued strong profitability with EBITDA of EUR 45.4 million and margin of 15.5 %

“Repackaging tomorrow” strategy and new mid-term targets presented at Elopak’s first Capital Markets Day in September

Decision to invest additional USD 25 million in second production line in the new US plant

Commenting on Elopak’s performance, CEO Thomas Körmendi said: “I am pleased to see that we continue to deliver profitable growth through new business and increased market share across our core markets, as well as strong filling machine sales. Recording all-time high quarterly revenue in a quarter with challenging market conditions where consumer spending is strained in many markets and capacity constraints and supply chain challenges in the Americas, demonstrates the resilience of our revenue run rate. Also in the quarter, we have decided to double the production capacity in the US already now, prior to starting production during the first half of next year. The investment in a second line in the production plant is a direct response to the continued strong demand for our solutions”.