Elopak s first quarter (Q1): Navigating softer market developments with discipline and strategic focus

05 May 2026 07:00 CEST

Elopak ASA ("Elopak", Oslo Børs Ticker: ELO) reports stable revenues of EUR
298.2 million for the first quarter on a constant currency basis and EBITDA of
EUR 41.0 million, after adjusting for restructuring costs.

First quarter 2026 summary:

* Group revenue for Q1 2026 remained stable on a constant currency basis, but
declined by 3.9% in EUR terms, as currency headwinds and lower equipment
sales outweighed volume growth in Americas
* Americas achieved 6.0% constant currency revenue growth and an EBITDA margin
of 22.3%, driven by the plant in Little Rock
* Adjusted EBITDA amounted to 41.0 million in the quarter, corresponding to an
adjusted EBITDA margin of 13.8%, compared to 14.4% in the same quarter last
year, mainly reflecting currency impacts and one off items
* Net profit attributable to Elopak shareholders was EUR 16.9 million, in line
with prior year, and the financial position remained solid with a leverage
ratio of 2.2x and ROCE at 15.1%

Commenting on Elopak's performance, CEO Thomas Körmendi said: "The ongoing
geopolitical situation poses challenges for all global businesses; however, we
remain confident in our Repacking tomorrow' strategy and in delivering on our
mid-term targets".

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

The Q1 2026 results will be presented today at Hotel Continental,
Stortingsgaten 24/26, Oslo, at 09:00 (CEST). 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, please use the following link:
https://qcnl.tv/p/IO-Fd1YOKNdQQJBCqpwASg
(https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fqcnl.tv%2Fp%2
FIO-Fd1YOKNdQQJBCqpwASg&data=05|02|christian.gjerde%40elopak.com|49ea208244564f1
2290608dea9cff915|8e8910dbd7c34cab871a96e46fb6b55a|0|0|639134908245632654|Unknow
n|TWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIj
oiTWFpbCIsIldUIjoyfQ%3D%3D|0|||&sdata=N4WjC7%2Fj53iJTlCX2cB6A7ySdsFc0sWIasOwoq1z
UK0%3D&reserved=0).

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 2026-05-05 07:00 CEST.

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

672326_Elopak ASA Q1 2026 Report.pdf
672326_Elopak ASA Q1 2026 Presentation.pdf