Q4 and FY 2022 results show resilience in changing climates

Date: 21.02.2023Source: Elopak

Elopak today reported a 24% revenue growth in Q4. The growth was mainly driven by pricing initiatives in EMEA and strong growth in Americas.  The Board proposes a dividend of NOK 0.86 per share for the year 2022, in line with dividend policy.

Highlights from Q4 2022:

  • Revenue increased by 24%, to EUR 267.1 million, driven by pricing in EMEA and growth in Americas
  • Organic growth was 12% adjusted for currency translation effects of EUR 11 million and new revenue from acquired businesses of EUR 14 million
  • Price increases for our products in EMEA were EUR 19 million
  • Adjusted EBITDA was EUR 35.9 million, an improvement of EUR 15.1 million
  • Leverage ratio unchanged at 3.3x

Said, Thomas Körmendi, CEO:  “Elopak ended the year on a strong note, delivering profitable organic growth. The most notable achievements were yet another strong performance in Americas, continued solid development in our acquired businesses in MENA and India, and the commercial launch of the new Pure-Pak® eSense aluminium-free aseptic carton. I am pleased to see that we continue to show great resilience despite a continued volatile environment, and we are well prepared to face challenges ahead.

“The uncertainties experienced in 2022 continue into 2023 and make it more challenging to predict short-term results, but we remain optimistic on longer-term market fundamentals. Our strategic initiatives remain focused on growing our top-line and strengthening our results. We remain committed to our mid-term targets.

“In the long-term, we expect the use of plastic food & beverage packaging to drop, and Elopak is well-positioned to leverage this plastic-to-carton conversion trend. As shown by the Pure-Pak eSense commercial launch, we remain committed to delivering on our sustainability-driven growth strategy.”  For more or to view the full report, visit newsweb.no

David Cox / IDM

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