Elopak s fourth quarter (Q4) and full year (FY) 2025: Solid growth and profitability - Building momentum into 2026

10 Feb 2026 07:00 CET

Elopak ASA ("Elopak", Oslo Børs Ticker: ELO) reports another strong quarter
and financial year, with consolidated revenues exceeding EUR 1.2 billion for
the first time. This is an organic revenue growth of 5.9% on our solid results
in 2024. EBITDA was EUR 185 million, up EUR 9 million from 2024, and the
EBITDA margin was 15.3% (15.2%). The Board proposes a dividend of EUR 0.102
per share for the second half of 2025, giving a full-year dividend of 0.132
per share.

Fourth quarter 2025 highlights:

* Revenue increased by 11.5%, 15.0% organic, resulting in total revenues of
EUR 316.0 million. Americas sales were up 28% year-on-year on a constant
currency basis
* EBITDA rose by EUR 5.3 million, reaching EUR 46.2 million with a margin of
14.6% (14.4%).
* Highest cash flow from operations recorded to date of EUR 62.7 million. Net
financial debt was reduced by EUR 7.7 million
* Proposed dividend of EUR 0.102 per share for second half of 2025, giving a
full-year dividend of EUR 0.132 per share

Full-year 2025 highlights:

* Revenues exceeded EUR 1.2 billion for the first time, and grew 5.9% on a
constant currency basis
* EBITDA reached EUR 184.7 million with a margin of 15.3%, an improvement of
EUR 8.6 million year on year
* Little Rock plant achieved its first profitable quarter only four months
after start of commercial production. Installation of the second production
line progressed as planned, and in September a decision was made to invest
additional USD 30 million in a third production line
* The Group's balance sheet strengthened during the year, with leverage ratio
improving to 2.0x, in line with our mid-term target

Commenting on Elopak's performance, CEO Thomas Körmendi said: "I am pleased to
report yet another quarter and year with strong performance. We delivered a
fantastic finish to 2025, with significant revenue growth and record high cash
flow from operations in the last quarter. This was driven by continued strong
momentum in the Americas and solid operational performance across the Group.
For the full year, we surpassed EUR 1.2 billion in revenues for the first
time, giving an organic revenue growth of 5.9%, with an EBITDA margin of
15.3%. Both were in line with our full-year guidance. These results reflect
the dedication of our teams, the trust of our customers, and the resilience of
our business".

Every quarter ahead of the earnings announcement, Elopak collects earnings
estimates from the equity analysts currently covering Elopak. The consensus
estimates and the methodology used are published on the Elopak's Investor
Relations website:
www.elopak.com/investor-relations/share-information/analyst-coverage/.

The Q4 2025 results will be presented today at 09:00 CET at Sparebank1
Markets, Olav Vs gate 5, Oslo. The presentation will be held in English by CEO
Thomas Körmendi and CFO Bent Kilsund Axelsen. To access the live webcast of
the results presentation, use the following link:
https://qcnl.tv/p/NIWYOvxWQTFrgaI5p1o8Ww.

For the full report and presentation, please see the attachment or visit
www.elopak.com/investor-relations
(https://www.elopak.com/investor-relations/).

For further information, please contact:
Investors:
Christian Gjerde, Head of Treasury and Investor Relations
E-mail: christian.gjerde@elopak.com
Tel: +47 980 60 909

Media:
Yannick Vanderveeren, Senior Communications Manager
E-mail: yannick.vanderveeren@elopak.com
Tel: +47 458 36 358

This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-02-10 07:00 CET.

About Elopak
Elopak is a leading global supplier of carton packaging and filling equipment.
The company's iconic Pure-Pak® cartons are made using renewable, recyclable
and sustainably sourced materials, providing a natural and convenient
alternative to plastic bottles that fits within a low carbon circular economy.

Founded in Norway in 1957, Elopak was listed on the Oslo Stock Exchange in
2021. Today it employs 3,000 people and sells 16 billion cartons annually
across more than 70 countries.

Elopak is a UN Global Compact participant member. We have set Science Based
Targets to reduce emissions in line with the 1.5-degree trajectory and aim to
be Net-Zero by 2050. In 2023, we achieved a gold rating by EcoVadis and were
rated top 2% sustainable companies in the world.

For more information, go to www.elopak.com or follow us @Elopak on LinkedIn.

More information:
Access the news on Oslo Bors NewsWeb site

665216_Elopak ASA Q4 2025 Report.pdf
665216_Elopak ASA Q4 2025 Presentation.pdf