Elopak’s second quarter (Q2): Progress and resilience: staying the course in a challenging environment

Elopak ASA reports improved financial performance from the softer start to the year, despite continued geopolitical uncertainty, raw material cost inflation, and changing consumer behavior.

Second quarter 2026 summary

• Group revenue grew 4.9% year-on-year (5.7% in constant currency). Adjusted EBITDA reached EUR 45.0 million, corresponding to a margin of 14.8%
• Americas delivered 8.7% revenue growth in constant currency and an EBITDA margin of 22.9%, supported by organic growth and the continued onboarding of new customer contracts
• EMEA revenue grew by 3.3%, while the EBITDA margin was 17.8%. The margin was impacted by higher raw material costs following the Middle East conflict. Customer surcharges have been implemented to mitigate the impact, with recovery expected in the coming quarters
• Strong operating cash flow generation with EUR 54.8 million. The leverage ratio remained stable at 2.2x and ROCE at 15.0%
• Net profit attributable to Elopak shareholders increased to EUR 15.7 million, up from EUR 9.3 million last year. The Board has declared a dividend of EUR 0.065 per share for the first half of 2026
• Håkon Volldal appointed as new CEO of Elopak ASA

Commenting on Elopak’s performance, interim CEO Bent K. Axelsen said: “We are operating in a demanding environment: volatile geopolitical situation, rising input costs and changing consumer behavior remain real challenges. Our second quarter results show that disciplined execution and strategic focus can drive progress even in difficult conditions, and we remain committed to our ‘Repackaging tomorrow’ strategy.”

Ahead of the quarterly earnings announcement, Elopak collects earnings estimates from the equity analysts currently covering Elopak. The consensus estimates and the methodology used are published on Elopak’s Investor Relations website: www.elopak.com/investor-relations/share-information/analyst-coverage/.