Elopak ASA has maintained its momentum from the first quarter of 2024 to deliver yet another strong quarter, with organic revenue growth of 3.8% and continued strong development in the company’s EBITDA margin. The company’s strong financial performance in the first half of 2024 reaffirms its higher run rates.
Q2 2024 highlights:
- Quarterly revenue of EUR 288.4 million (Q2 2023: EUR 278.1 million) with an organic revenue growth of 3.8%
- Pure-Pak® volumes grew in both Europe and Americas
- Adjusted EBITDA of EUR 43.8 million with a margin of 15.2% (Q2 2023: 14.9%)
- Capital structure remains strong with leverage ratio of 1.9x
- Record high dividend payment of EUR 34.4 million in May for FY2023
- Refinanced debt capital structure: triple-tranche inaugural green bonds successfully issued and new revolving credit facility signed
Said CEO Thomas Körmendi of the results: “I am happy to report yet another strong quarter with continued strong performance across all our markets. Our strong balance sheet and refinanced debt capital structure ensure that we remain in a solid position, enabling further investments in various growth initiatives going forward. We expect the strong financial performance to continue in the second half of the year in line with our reaffirmed run rates.”
The Q2 2024 results were presented on August 15, 2024, at 09:00 CET at Hotel Continental, Stortingsgaten 24/26, Oslo. With the presentation held in English by CEO Thomas Körmendi and CFO Bent Kilsund Axelsen. For the full report and presentation, please visit elopak.com/reports-presentations/
