Elopak reports record revenues and carton volumes in 2024 as it targets EUR 2 billion by 2030

Elopak has published its 2024 annual report, highlighting record-breaking revenues and significant progress in the areas of planet, profit, and people. This demonstrates the company’s commitment to its revised strategy, ‘Repackaging tomorrow,’ and its ambition of becoming a EUR 2 billion company by 2030.

Elopak intends to double revenue by 2030 through its reshaped strategy, ‘Repackaging tomorrow’ which sets out three priorities: realising global growth, strengthening leadership in core markets, and continuing to leverage the plastic replacement shift across a variety of product segments.

“2024 has been the year in which we have launched a revised strategy, manifested our foothold in new segments and started the construction of our new production plant in the United States,” stated Thomas Körmendi, CEO at Elopak. 

Elopak’s 2024 annual report details the company’s latest progress and important milestones across the key areas of people, planet and profit. 

  • People: In 2024 the company invested heavily in its people as well as its infrastructure. Elopak not only welcomed the highest number of new recruits but also strengthened several competence areas, including R&D and sustainability, and onboarded additional new colleagues who will manage the new production plant in the United States.
  • Planet: The company’s strong performance in 2024 was underpinned by its continued dedication to making progress on key areas of sustainability. Notably, Elopak reduced its direct CO2e emissions by 37% from a 2020 baseline, as it works towards achieving a 42% reduction by 2030 and net zero by 2050, validated by the Science Based Targets initiative (SBTi). Also, the company managed to reduce the average carbon footprint per carton by 29% compared to 2014.
  • Profit: 2024 was defined by a strong financial performance including reported record-breaking revenues. Revenues grew organically by 2.2% to EUR 1,157 million, EBITDA margin was 15.2% and the leverage ratio at year end was 2.1x. Our commitment to realising global growth is already well underway with the company having sold a record volume of 16 billion cartons last year.

“I want to take this opportunity to thank all our employees, customers, partners, and suppliers for being the driving force behind making 2024 such a successful year,” Körmendi said.

Notes to editors 

The full 2024 annual report can be downloaded here: Our annual report for 2024 is here! - Elopak