Elopak Q1 Report 2023

• Record high quarterly revenues and adjusted EBITDA
• Revenues increased by 26%, to EUR 283.4 million, driven by growth in EMEA and Americas
• Organic growth was 16% adjusted for currency translation effects of EUR 3 million and new revenue from acquired businesses of EUR 18 million
• Strong, profitable growth from acquired business in India
• Adjusted EBITDA was EUR 41.0 million, an improvement of EUR 16.0 million
• Strong cash flow generation, leverage ratio reduced to 2.7x

Compared to the same quarter last year, Elopak reported revenue growth of 26% – or EUR 57.6 million – in Q1 2023. Adjusted for acquisitions and currency translation effects, the organic revenue growth was 16%. Adjusted EBITDA for the Group in Q1 grew by EUR 16.0 million to EUR 41.0 million, reflecting a 14.5% margin.