Bewi Invest AS

Regulatory Filings • Jun 10, 2022

BEWI leads the change towards a circular industry through the acquisition of the recycling company Berga Recycling

BEWI leads the change towards a circular industry through the acquisition of the recycling company Berga Recycling

BEWI ASA, a leading provider of packaging, components, and insulation solutions,

today announces that the company acquires Berga Recycling Inc., a world leader

in the purchase and sale of materials for recycling.

"Through our acquisition of Berga, we continue to lead our industry's change

towards a circular economy. We are super excited about the opportunities Berga's

platform provides us with, enabling us to challenge existing business models and

structure the supply chain for materials for recycling," says CEO of BEWI,

Christian Bekken.

Berga's vision is to become the world's largest agency for materials for

recycling. In 2021, the company purchased and sold an annual volume of

approximately 82,000 tonnes of materials for recycling through a network of

hundreds of customers globally. The trading is completed through an online

trading platform, which is linked to Berga's comprehensive network of logistic

partners. Through the system, customers can track the delivery of the material,

enabling improved planning throughout the value chain and securing a seamless

process from the completion of the transaction to the delivery of the material.

"The markets for handling waste and used materials are very fragmented. Through

Berga's online trading platform, where the concept is to purchase materials for

recycling from the companies that generate them and sell to those who transform

them, we get an excellent tool to further consolidate and grow our circular

business. The platform is scalable, and therefore easily applicable to other

recycling companies in our portfolio," Bekken continues.

For 2021, Berga had sales revenues of approximately CAD 43 million

(approximately EUR 31.0 million), with an EBITDA margin of approximately 10 per

cent. The company has shown a sustained profitable growth of more than 20 per

cent the last three years.

The consideration for 100 per cent of the shares of Berga Recycling Inc. will be

settled in cash. The consideration is just above BEWI's historical M&A range of

an EV/ EBITDA multiple of 5 to 7.

«I am seldom seen this excited about any transaction, but the strategic

importance of this acquisition for our circular business is beyond any previous

acquisitions or initiatives we have done. From the establishment of our circular

business in 2018, we will now, including Berga, have an annual turnover of

approximately EUR 64 million with an EBITDA margin of close to 10 per cent. Not

only have we managed to build a sizeable and profitable circular business, with

an annual collection rate of EPS waste of approximately 35,000 tonnes but I am

truly proud that we are about to really make a difference by creating a circular

system for waste streams," Bekken concludes.

BEWI will host a short presentation and Q&A session about the acquisition of

Berga, including its Circular business, on Monday 13 June 2022 at 13:00 CEST.

Details about how to participate in the Q&A session will be made available on

the company's website, www.bewi.com prior to the meeting.

For further information, please contact:

Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 9756

1959

Marie Danielsson, CFO BEWI ASA, tel: +46 70 661 00 47

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 and is subject to the disclosure requirements

pursuant to section 5-12 of the Norwegian Securities Trading Act. The

information was submitted for publication, through the agency of the contact

persons set out above, at 14:00 CEST on 10 June 2022.