BEWI - Results for the first quarter of 2025

14 May 2025 07:00 CEST

Second consecutive quarter of sales and volume growth

BEWI, a leading provider of packaging, components, and insulation solutions,
today reports its results for the first quarter of 2025. Excluding discontinued
operations, the company recorded net sales of 187.9 million euro for the
quarter, up from 183.6 million euro for the same quarter last year, driven by
higher volumes. Adjusted EBITDA reached 15.0 million euro, up 13.2 per cent from
13.2 million euro for the first quarter of 2024.

"We are pleased to see that the activity in the building and construction
industry is picking up in most regions, resulting in the second consecutive
quarter with volume growth for our insulation business", says Christian Bekken,
CEO of BEWI ASA.

BEWI's insulation business saw an increase in EBITDA with 21.3 per cent,
recording 7.9 million euro in a seasonally weak first quarter.

The packaging business also had higher volumes and delivered stable results. The
EBITDA came in at 9.4 million, in line with the first quarter of 2024, although
impacted by a lag in price adjustments linked to raw material costs, and
additional costs related to production ramp-up for the automotive business.

The Circular business also demonstrated solid progress for the quarter, with a
notable increase in collection volumes, and a positive development in sales and
EBITDA.

In February 2025, BEWI announced a merger of its RAW division with the raw
materials company Unipol, forming a more competitive player in the European EPS
raw materials market. BEWI will retain 49 per cent ownership, maintaining
operational benefits of vertical integration, while at the same time releasing
up to 75 million euro in cash. In addition, the company is divesting parts of
its food packaging business (traded products), adding 20 million euro in cash.
Both transactions are expected be finalised the next few months.

Going forward, the insulation business typically sees its strongest performance
in the second and third quarters. For the packaging business, a higher standing
biomass of salmon at the end of the first quarter this year than last year,
indicates increased slaughter volumes - and in turn, higher volumes of fish
boxes.

"The markets we operate in are still challenging, with increased uncertainty and
growing trade tensions from the recent US tariff announcements. Still, we are
cautiously optimistic about the markets ahead. We have demonstrated a strong
ability to adapt to changing conditions, leaving us with a trimmed operational
base, lower cost level, and plenty of room to grow organically without
additional investments", Bekken concludes.

Please find attached the full report for the first quarter of 2025, the
presentation of the results and the financials spreadsheet.

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

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 CEST on 14 May
2025

More information:
Access the news on Oslo Bors NewsWeb site

646247_BEWI_Q1_2025_report.pdf
646247_BEWI_Q1_2025_presentation.pdf