BEWI - Results for the third quarter of 2024

06 Nov 2024 07:00 CET

Improved earnings for downstream in a market showing signs of recovery

BEWI, a leading provider of packaging, components, and insulation solutions,
today reports its results for the third quarter of 2024. The company recorded
net sales of 252 million euro for the quarter, compared to 267 million euro for
the same quarter of 2023. The adjusted EBITDA came in at 23 million euro,
compared to 24 million euro for the third quarter of 2023.

"We are pleased to see continued signs of recovery in the markets we operate.
Interest rates have come down, and are expected to drop further, which is
positive for the building and construction industry. Volumes sold of foundation
systems have increased the past two quarters, compared to the corresponding
periods last year, indicating increased activity at the beginning of the
construction value chain," says Christian Bekken CEO of BEWI ASA.

BEWI's downstream business, including the two segments Insulation & Construction
and Packaging & Components improved its results for the quarter compared to last
year. For the upstream business, markets remained challenging, with weaker
results for RAW and Circular. As a result of this, the group has initiated a
cost reduction programme with estimated annual savings of 6 million euro.

For the first nine months of 2024, BEWI had net sales of 773 million euro,
compared to 853 million euro for the corresponding period of 2023, with an
adjusted EBITDA of 71 million, down from 84 million the previous year.

BEWI has stated a strong ambition for growth, and works with operational,
strategical, and financial measures to position itself going forward. As part of
this, the company recently announced that it will merge the trading part of its
packaging business with the Danish company STOK Emballage. BEWI will retain an
ownership of approximately 15 per cent in the combined company and will receive
20 million euro in cash upon completion. The transaction allows a strengthened
focus on the core packaging business, and a re-allocation of capital and
resources toward high-potential growth areas.

BEWI remains confident in its strategy and the long-term potential for its
solutions. The company is well positioned to capture attractive and profitable
growth opportunities going forward.

Please find attached the full report for the third quarter of 2024, the
presentation of the results and the financials spreadsheet.

CEO Christian Bekken and CFO Marie Danielsson will present the results from
10:00 am today through a live webcast. The link to the webcast is available from
BEWI's homepage www.bewi.com, and a recording of the webcast will be made
available. It is possible to post questions through the webcast.

For further information, please contact:

Charlotte Knudsen, Chief Communications and IR Officer BEWI ASA, tel: +47 9756
1959

Marie Danielsson, CFO BEWI ASA, tel: +46 70 661 0047

About BEWI ASA

BEWI is an international provider of packaging, components, and insulation
solutions. The company's commitment to sustainability is integrated throughout
the value chain, from production of raw materials and end goods, to recycling of
used products. With a vision to protect people and goods for a better every day,
BEWI is leading the change towards a circular economy.

BEWI ASA is listed at the Oslo Børs under ticker BEWI.

The information is such that BEWI ASA is required to disclose in accordance with
the EU Market Abuse Regulation. The information was submitted for publication,
through the agency of the contact person set out above, at 07:00 CET on 6
November 2024

More information:
Access the news on Oslo Bors NewsWeb site

631328_BEWI_Q3_2024_report.pdf
631328_BEWI_Q3_2024_presentation.pdf