Elopak Asa · OSL:ELO
Elopak Asa — Elopak A S — Q1 2025 Earnings Presentation
20 slides from Elopak Asa's earnings presentation, May 7, 2025
Slide 1: Quarterly presentation Q1 2025
Quarterly presentation Q1 2025
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 FY24 Revenue by region FY24 Other Aseptic 4% Elopak at a glance 20% The world’s largest player in fresh liquid carton packaging 76% 16 billion cartons produced in 2024 Fresh Sales to 70+ markets EMEA: 73% Americas: 27% 2,850 employees Russia Historical revenue development1 12 man
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
Q1 2025 Business performance CEO Thomas Körmendi
Slide 6: Q1 2025 Business highlights
Q1 2025 Business highlights The first quarter ever with revenues Strong organic revenue growth of Group EBITDA of EUR 44.6 million above EUR 300 million 23.1% across all segments in with a margin of 14.4%, in line with − 6.3% growth reported Americas Q4 2024 − 5.2% growth organic Grand opening of ou
Slide 7: Other key financial highlights in the Group
2024 Other key financial highlights in the Group 2025 EBIT, LTM (EURm) ROCE (%) EPS to Elopak shareholders (EUR) -5% -2.3% -21% 114 17.4% 0,08 108 15.1% 0,06 Q1 Q1 Q1 Cash flow from operations, YTD (EURm) Capex (EURm) Net debt (EURm) +136% +28% -83% 29 25 402 313 11 5 Q1 Q1 Q1 This slide will not be
Slide 8: Record high revenues of 310 MEUR, with EBITDA margin diluted due to pre-production costs
Record high revenues of 310 MEUR, with EBITDA margin diluted due to pre-production costs from US plant Revenues (MEUR) EBITDA (MEUR) and EBITDA margin (%) 15.8% 14.4% +6.3% -3.2% 310.3 46.1 44.6 291.9 Q1 24 Q1 25 Q1 24 Q1 25 ▹ Quarterly organic revenue growth of 15.2 MEUR, +5.3% YoY ▹ US production
Slide 9: Refocusing priorities to accelerate profitable growth
Refocusing priorities to accelerate profitable growth 3 strategic priorities focused on creating change: Realize global growth Strengthen Leverage plastic potential leadership in core replacement shift 9
Slide 10: Navigating tariffs from a unique stronghold in North America
Navigating tariffs from a unique stronghold in North America Production plants in Canada, USA and Mexico are all – as of today – exempted from tariffs under United States-Mexico- Canada Agreement (USMCA) Imports to USA from Europe, Japan and the Dominican Republic have 10% tariff Customers purchase
Slide 11: Our new production plant in Little Rock, Arkansas has finally opened
Our new production plant in Little Rock, Arkansas has finally opened – on time and within budget! 12
Slide 12: Financial performance
Q1 2025 Financial performance CFO Bent Kilsund Axelsen
Slide 13: EMEA: Stable performance. Strong competition within the Roll Fed segment in Europe
EMEA: Stable performance. Strong competition within the Roll Fed segment in Europe Revenues (MEUR) EBITDA (MEUR) and EBITDA margin (%) 16.0% 15.7% -0.7% -2.5% 230.5 229.0 36.9 36.0 Q1 24 Q1 25 Q1 24 Q1 25 ▹ Overall stable Pure-Pak® carton and closure volumes in Europe ▹ Product margins remain strong
Slide 14: Americas: Highest ever recorded volume and revenue
Americas: Highest ever recorded volume and revenue. Margins excluding pre-production cost in Little Rock of 22.1% Revenues (MEUR) EBITDA (MEUR) and EBITDA margin (%) 23.5% 19.8% +27.0% +7.1% 94.0 18.6 17.4 74.0 Q1 24 Q1 25 Q1 24 Q1 25 ▹ Quarterly organic revenue growth of 17.1 MEUR, 23.1% YoY ▹ Marg
Slide 15: Growth in Americas and price increases completed in EMEA
Growth in Americas and price increases completed in EMEA EBITDA and EBITDA margin % quarterly (MEUR) -1 MEUR -3.2% 0.5 -0.1 -2.2 US plant 3.2 -2.2 Labor inflation -1.6 R&D 0.9 -6.1 46.1 44.6 15.8% 14.4% Q1 24 Net revenue mix* Raw materials** Operating cost Other and currency*** Q1 25 * Net revenue m
Slide 16: Strong EBITDA performance with capital allocation in line with strategy
Strong EBITDA performance with capital allocation in line with strategy Cash flow from Cash flow to Cash flow to operations investments financing ex loan payments* 299 9 1 6 2 25 263 1 4 45 34 Net financial debt EBITDA Change in NWC Taxes paid Other CAPEX Other Lease payments Interest paid FX Net fi
Slide 17: Capital structure and ROCE affected by US plant investments and temporary cash from working capital
Capital structure and ROCE affected by US plant investments and temporary cash from working capital Leverage ratio (x) and net debt (MEUR) ROCE (LTM) Lease liabilities Net bank debt Leverage ratio LTM EBITDA Capital employed LTM EBIT ROCE 713 2.3x 685 657 655 667 2.1x 2.1x 1.9x 17,4% 17,7% 402 16,8%
Slide 18: Summary and outlook
Summary and outlook Grand opening of new production plant in Little Rock, US completed on April, 30 on time and within budget. Ramp-up of commercial production starting from Q2, 2025 Robust financial performance: ‒ First quarter ever above 300 MEUR ‒ EBITDA of 44.6 MEUR, with margin of 14.4% Balance
Slide 19: Financial calendar
Financial calendar Event 2025 dates Annual general meeting May 14 Q2 2025 August 14 Q3 2025 October 28
Slide 20: Thank you!
Thank you! Visit us at Elopak.com