Slide 1: Quarterly presentation Q3 2024
Quarterly presentation Q3 2024
Slide 2: Disclaimer
Disclaimer Certain statements included in this announcement contain forward -looking information, including, without limitation, information relating to (a) forecasts, projections and estimates, (b) statements of Elopak management concerning plans, objectives and strategies, such as planned expansio
Slide 3: Elopak at a glance
Revenue end markets FY23 Revenue by region FY23 Elopak at a glance Other Aseptic 4% 20% Pure-Pak® The world’s largest player in fresh liquid carton packaging cartons 14 billion cartons produced in 2023 76% Fresh Sales to 70+ markets EMEA: ~75% Americas: ~25% 2,700 employees Russia Historical revenue
Slide 4: We're in the business of sustainable packaging
We’re in the business of Protecting essential commodities Enabling world nutrition sustainable Reducing plastics packaging 4
Slide 5: Business performance
Q3 2024 Business performance CEO Thomas Körmendi
Slide 6: Q3 2024 Business highlights
Q3 2024 Business highlights Record high quarterly revenue of Pure-Pak® carton and closure EBITDA of 45 EURm, in line with 293 EURm. Organic growth of 3.6% volume growth in Europe and run rate, with margin of 15.5% YoY Americas ROCE at 16.8%, increased with USD 25m to be invested in second First Capi
Slide 7: Other key financial highlights in the Group
2023 Other key financial highlights in the Group 2024 EBIT, LTM (EURm) ROCE (%) EPS to Elopak shareholders (EUR) +10% +1.2% -14% 112 16.8% 0,07 102 15.6% 0,06 Q3 Q3 Q3 Cash flow from operations, YTD (EURm) Capex (EURm) Net debt (EURm) -13% +246% +7% 108 68 371 94 348 20 Q3 Q3 Q3 This slide will not
Slide 8: Record high quarterly revenue of EUR 293m, up over 3%
Record high quarterly revenue of EUR 293m, up over 3% from same quarter last year Group revenues (EURm) EBITDA (EURm) +3.3% 17.0% 15.5% 15.5% 15.5% 873 2023 +3.4% 845 2024 131 135 +3.3% -6.1% 283 293 48 45 Q3 YTD Q3 YTD ▹ Q3 2024 organic* revenue growth of 10 EURm, 3.6% YoY ▹ EBITDA in Q3, 2023 incl
Slide 9: Pure-Pak and closure growth in central and northern Europe
Pure-Pak® and closure growth from new business and increased market share in central and northern Europe Revenues (EURm) - EMEA Key comments +2.6% ▹ Inflationary pressure softened demand and 668 downtrading to low-cost packaging solutions in 651 2023 southern Europe and MENA 2024 ▹ Large increase in
Slide 10: Revenue growth in Americas continues despite capacity constraints
Revenue growth in Americas continues, despite capacity constraints and board supply challenges Revenues (EURm) - Americas Key comments +7.6% ▹ Pure-Pak® growth with existing customers in dairy 226 ▹ Record high closure volumes, as well as good filling 210 2023 machine sales 2024 ▹ Managed to deliver
Slide 11: New production plant in Little Rock, Arkansas is coming alive
The new state-of-the-art production plant in Little Rock, Arkansas is coming alive! Image source: ARCO 11
Slide 12: Our strategy: 'Repackaging tomorrow'
Our strategy: ‘Repackaging tomorrow’ A strategy focused on creating change: #1 A sustainability frontrunner, offering market leading ~2 By 2030; above market revenue growth with 3 Realize global growth Strengthen position technology in fiber- EURbn improved EBITDA strategic leadership in core based
Slide 13: Arla expands Milka brand with new chocolate milk range
Arla expands Milka brand with new chocolate milk range Together with Mondelēz International, Arla has launched a new range of Milka chocolate milk products, opening a new category hitting a major milestone in the Milka brand’s history. “The main reason for choosing Pure-Pak® cartons is, that we thin
Slide 14: Friesland Campina in Romania switches 14 dairy products to Elopak
Friesland Campina in Romania switches annual volume for 14 dairy products to Elopak Friesland Campina has invested in the latest filling machine line and increased shelf life of their products to 33 days. 14 of their fresh milk products are now packed in Pure-Pak® cartons. “The change to Elopak was
Slide 15: Financial performance
Q3 2024 Financial performance CFO Bent Kilsund Axelsen
Slide 16: Continued strong underlying profitability
Continued strong underlying profitability EBITDA and EBITDA margin % quarterly (EURm) -3 EURm -6.1% FTE, R&D and other 2.0 2.9 Inflation 2.0 0.1 1.7 0.0 -3.7 48.3 45.4 17.0% 15.5% Q3 2023 PY positive one-off Net revenue mix* Raw materials** Operating cost Other and Q3 2024 currency*** * Net revenue
Slide 17: Margin accretive growth continues despite fixed cost ramp-up
Despite fixed cost ramp-up from strategic initiatives, margin accretive growth continues EBITDA (EURm) and EBITDA margin (%) Key comments EMEA EMEA Americas ▹ Growth in chilled segment and closures in northern Europe ▹ Consumers downtrading to low-cost products in southern Europe 18.1% 16.5% 16.4% 1
Slide 18: Robust cash flow from operations of EUR 94m
Robust cash flow from operations of EUR 94m, in large reinvested in new US plant and dividends Cash flow from operations Cash flow to investments Cash flow from financing -11 -22 -8 135 -68 5 -34 21 13 0 -17 41 -13 Cash at EBITDA Change Taxes paid JV and CAPEX Other Dividends Lease Other Increased F
Slide 19: Balance sheet remains solid
Balance sheet remains solid as improved profitability compensates for increased investment levels Leverage ratio and net debt ROCE (LTM) Net debt (mEUR) 400 371 5.0 +1.2% 348 339 4.5 17.7% 350 333 17.4% 16.8% 313 16.7% 106 4.0 15.6% 300 96 102 108 3.5 250 105 3.0 200 2.5 2.1x 2.1x 2.0 150 1.9x 1.8x
Slide 20: Summary and outlook
Summary and outlook Revenue growth remains solid due to new business gained, increased market share in core markets, as well as strong filling machine sales Financial results for year to date remains strong, recording all-time high quarterly revenue in Q3 Full year revenues is expected to be in line
Slide 21: Financial calendar
Financial calendar Event Dates Q4 2024 February 11, 2025 Q1 2025 May 7, 2025 Q3 2025 August 14, 2025 Q3 2025 October 28, 2025
Slide 22: Thank you!
Thank you! Visit us at Elopak.com