Building on solid performance…

Date: 02.11.2023Source: Elopak

Elopak continued to demonstrate its strong ability to manoeuvre through volatile market conditions, building on solid performance in past consecutive quarters. Today, Elopak reported the best quarter ever, testifying to our success in delivering on our strategy as well as our mid-term targets for revenue growth and profitability.


  • Revenues increased by 4%, to EUR 283.5 million
  • Organic growth was 5%, or EUR 13.2 million, adjusted for currency translation effects
  • Adjusted EBITDA was EUR 48.3 million, an improvement of EUR 16.3 million
  • Strong cash flow generation and down-payment of debt. Leverage ratio reduced to 2.1x

Said Thomas Körmendi Elopak CEO: “I am happy to report yet another quarter of strong and profitable growth. Our improved cash flow and solid balance sheet enable us to respond to the continued interest from multiple segments across the world in sustainable, fibre-based packaging solutions. With a broadened product portfolio, we will be able to actively participate in the current plastic-to-carton packaging trend, thereby contributing to a better future.

“In Q3, we continued to develop and improve our business across geographies, and we delivered a very strong financial result. We expect to achieve full year revenue of above EUR 1,1 billion, well above our mid-term organic growth target of 2-3%. Based on our estimated full year revenue, we expect to deliver full year adjusted EBITDA above 170 million.”  For more visit elopak.com


David Cox / IDM

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