2023 was a year of significant progress and achievements for Elopak, extending the many successes of previous years in implementing the company’s sustainability driven growth strategy. The Board proposes a dividend of NOK 1.46 per share for the year 2023, in line with dividend policy.
Fourth quarter 2023 highlights
* Revenues increased by 7.5%, to EUR 287.2 million
* Organic growth was 8.4%, or EUR 22.4 million, adjusted for currency translation effects
* Adjusted EBITDA was EUR 40.0 million, an improvement of EUR 4.1 million, reflecting a 13.9% margin
* Strong cash flow generation and down-payment of debt. Leverage ratio reduced to 1.9x
Said Thomas Körmendi, CEO: “I am happy to report yet another quarter of strong performance and I am pleased to confirm that the Elopak team has delivered on all the 3–5-year targets set in the IPO in 2021.
“I would like to say a big thank you to all our colleagues, customers, suppliers and partners for their fantastic contributions and collaboration throughout the year. We are entering 2024 from a strong position and I look forward to further strengthening our contribution to a more sustainable society while continuing to create shareholder value in the years to come.”
Full Year 2023 highlights
* Revenues increased by 10.6%, to EUR 1,132.0 million
* Organic growth was 9.4%, adjusted for currency translation and acquisition effects of EUR 11.9 million
* Adjusted EBITDA was EUR 170.9 million, an improvement of EUR 51.5 million, reflecting a 15.1% margin
* Adjusted profit attributable to Elopak shareholders was EUR 68.3 million, up 55% compared to 2022
* Proposed dividend of NOK 1.46 per share for the year 2023, in line with the dividend policy
The Q4 2024 results will be presented on February 15, 2024 at 09:00 CET at Hotel Continental, Stortingsgaten 24/26, Oslo. The presentation will be held in English by CEO Thomas Körmendi and CFO Bent Kilsund Axelsen. For more visit Elopak.com
