Elopak Full-Year Report 2022

Full Year 2022 Highlights

• Revenues increased by 20%, to EUR 1,024 million
• Organic growth was 11%, adjusted for currency translation effects of EUR 32.8 million and new revenue from acquired businesses of EUR 38.5 million
• Adjusted EBITDA was EUR 119.4 million, which is an improvement of EUR 5.7 million
• Adjusted net profit was EUR 44.0 million
• Proposed dividend of NOK 0.86 per share for the year 2022, in line with the dividend policy

The key driver for the strong organic revenue development in the quarter was a price increase of EUR 19 million on our products. In terms of volume, the development in the quarter was slightly nega- tive for Pure-Pak®, when adjusting for acquired business. Fresh volumes decreased mainly due to underlying consumption decline, while aseptic volumes were relatively stable. The revenue growth in EMEA was also partly driven by higher Roll-Fed volumes.