Elopak’s second quarter (Q2): Continued growth while navigating headwinds with resilience and strategic focus

Elopak ASA (“Elopak”, Oslo Børs Ticker: ELO) reports revenues of EUR 289.7 million for the second quarter 2025. This represents a growth compared to last year of 2.4% adjusted for currency effects, primarily driven by Americas and supported by the ramp-up of the new U.S. plant. 

Q2 2025 highlights: 

  • The Group EBITDA margin for the second quarter was 15.4%. Adjusted for the ramp-up of the new U.S. plant, the EBITDA margin was 15.8%. Organic revenue growth was 2.4% 
  • Strong sales growth in Americas, up 14% from last year on a constant currency basis 
  • U.S. plant in commercial production. Target remains to be fully ramped-up by the end of the year 
  • Solid cash flow generation through the quarter enabling continued high capex and dividend payment whilst maintaining stable leverage at 2.3x 
  • The Board declares a dividend for the first half of 2025 of EUR 0.03 per share in line with our dividend policy. First instalment of the 2024 dividend of EUR 0.08 per share was paid in May.

Commenting on Elopak’s performance, CEO Thomas Körmendi said:  

“We are pleased with the positive result and progress we’ve made in the second quarter despite a more uncertain and challenging market environment. We continue to show resilience across key markets and expect to continue the strong performance from the first half of 2025, with full-year results in line with our mid-term targets.” 

Every quarter ahead of the 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/. 

The Q2 2025 results will be presented on August 14, 2025, at 09:00 CEST at Arctic Securities, Haakon VIIs gate 5, 0161 Oslo. The presentation will be held in English by CEO Thomas Körmendi and CFO Bent Kilsund Axelsen. To access the live webcast of the results presentation, use the following link: https://channel.royalcast.com/landingpage/hegnarmedia/20250814_6/ 

For the full report and presentation, please see the attachment or visit www.elopak.com/investor-relations.  

For further information, please contact: 

Christian Gjerde, Head of Treasury and Investor Relations 

E-mail: christian.gjerde@elopak.com    

Tel: +47 980 60 909 

Erica Binde Honningsvåg, Investor Relations and Treasury Officer 

E-mail: erica.honningsvaag@elopak.com  

Tel: +47 975 91 102 

This information is subject to disclosure under the Norwegian Securities Trading Act, §5-12. The information was submitted for publication at 2025-04-23 09:05 CEST. 

About Elopak 

Elopak is a leading global supplier of carton packaging and filling equipment. The company's iconic Pure-Pak® cartons are made using renewable, recyclable and sustainably sourced materials, providing a natural and convenient alternative to plastic bottles that fits within a low carbon circular economy. 

Founded in Norway in 1957, Elopak was listed on the Oslo Stock Exchange in 2021. Today it employs 2,850 people and sells 16 billion cartons annually across more than 70 countries. 

Elopak is a UN Global Compact participant member. We have set Science Based Targets to reduce emissions in line with the 1.5-degree trajectory and aim to be Net-Zero by 2050. In 2023, we achieved a gold rating by EcoVadis and were rated top 2% sustainable companies in the world. 

For more information, go to www.elopak.com or follow us @Elopak on LinkedIn.