Elopak Q3 Report 2023

• 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, reflecting a 17.0% margin
• Strong cash flow generation and down-payment of debt. Leverage ratio reduced to 2.1x

In the third quarter of 2023, revenues increased 4% compared to the same period last year, or EUR ILI million. Adjusting for currency translation effects, the increase is 5%, or EUR 13.2 million. In EMEA, revenues grew by EUR 13.3 million compared to the same quarter last year. The organic revenue development in EMEA in the quarter was mainly a result of price adjustments in the beginning of the year. In terms of volumes, the development in the quarter was stable. Pure-Pak® Fresh and Aseptic volumes decreased slightly as inflation continues to restrain consumption across segments and geogra- phies. Roll-Fed volumes developed positively mainly from the contribution of India, and filling machine placements improved.