Elopak ASA

Earnings Release • Aug 14, 2025

Elopak s second quarter (Q2): Continued growth while navigating headwinds with resilience and strategic focus

Elopak s second quarter (Q2): Continued growth while navigating headwinds with resilience and strategic focus

Elopak ASA ("Elopak", Oslo Børs Ticker: ELO) reports revenues of EUR 289.7

million for the second quarter 2025. This represents a growth compared to last

year of 2.4% adjusted for currency effects, primarily driven by Americas and

supported by the ramp-up of the new U.S. plant.

Q2 2025 highlights:

* The Group EBITDA margin for the second quarter was 15.4%. Adjusted for the

ramp-up of the new U.S. plant, the EBITDA margin was 15.8%. Organic revenue

growth was 2.4%

* Strong sales growth in Americas, up 14% from last year on a constant

currency basis

* U.S. plant in commercial production. Target remains to be fully ramped-up by

the end of the year

* Solid cash flow generation through the quarter enabling continued high capex

and dividend payment whilst maintaining stable leverage at 2.3x

* The Board has declared a dividend for the first half of 2025 of EUR 0.03 per

share in line with our dividend policy. First installment of the 2024

dividend of EUR 0.08 per share was paid in May

Commenting on Elopak's performance, CEO Thomas Körmendi said:

"We are pleased with the positive result and progress we've made in the second

quarter despite a more uncertain and challenging market environment. We

continue to show resilience across key markets and expect to continue the

strong performance from the first half of 2025, with full-year results in line

with our mid-term targets."

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 Q2 2025 results will be presented on August 14, 2025, at 09:00 CEST at

Arctic Securities, Haakon VIIs gate 5, 0161 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://channel.royalcast.com/landingpage/hegnarmedia/20250814_6/

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

Erica Binde Honningsvåg, Investor Relations and Treasury Officer

E-mail: erica.honningsvaag@elopak.com

Tel: +47 975 91 102

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 at

2025-08-14 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 2,850 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.