Bewi Invest AS

Earnings Release • May 6, 2021

BEWI - Preliminary results for the first quarter of 2021

BEWI - Preliminary results for the first quarter of 2021

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

today announces its preliminary results for the first quarter of 2021 due to the

contemplated private placement announced today. The full report for the first

quarter is planned to be published on 21 May 2021.

The company contemplates a private placement of new shares raising gross

proceeds of up to NOK 200 million. The proceeds will be used to finance the

recently announced acquisition of the Polish automotive company IZOBLOK.

For more information about the contemplated private placement, see the separate

announcement named: BEWI - Contemplates private placement

BEWI recorded net sales of EUR 148.9 million for the first quarter of 2021, an

increase of 42 per cent from the EUR 105.1 million reported for the

corresponding quarter last year. The increase in sales can mainly be explained

by improved volumes in all segments and most regions, as well as increased sales

prices as a consequence of increased raw material prices. Acquired companies

contribute to approximately half of the increase.

During the first quarter of 2021, the price of the raw material increased

significantly. This positively impacted the margin for segment RAW and put

pressure on the margins for the downstream segments, P&C, and Insulation, as

sales price adjustments face a time-lag of approximately one quarter.

Adjusted EBITDA came in at EUR 16.7 million, up from EUR 14.8 million reported

for the first quarter of 2020. Acquired companies contribute with an increase of

EUR 2.6 million.

BEWI had a cash flow from operating activities of EUR 0.3 million for the first

quarter, including an increase of the working capital of EUR 9.5 million,

following normal seasonality for working capital. For the corresponding quarter

last year, the company had a negative cash flow of EUR 4.9 million, including an

increase in the working capital of EUR 14.7 million.

Cash flow used for investing activities was a negative EUR 7.2 million, of which

investments in ongoing greenfield projects amounted to EUR 3.3 million.

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 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 has three reporting segments: Segment RAW, developing and producing raw

materials sold internally and externally. Segment Packaging & Components (P&C),

developing and manufacturing packaging solutions and technical components for

customers in many industrial sectors. Segment Insulation, providing an extensive

range of insulation products for the construction industry.

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 16:30 CEST on 6 May

2021