Q3 2024 Elopak ASA Earnings Call Transcript
Key Points
- Elopak ASA (FRA:9J7) reported an all-time high quarterly revenue with a growth rate of 3.5%, driven by organic growth rather than pricing.
- The company achieved a strong EBITDA of 45 million EUR, maintaining a 15.5% margin level.
- Elopak ASA is expanding its capacity in the Americas with a 25 million EUR investment in a second line at the Arkansas plant, which will more than double its capacity.
- The company is seeing solid growth in its core Pure-Pak business, particularly in Northern and Central Europe and the Americas.
- Elopak ASA's strategic initiatives, including the Repackaging Tomorrow strategy, aim to enhance its leadership in sustainable carton packaging and target a 15-17% margin level.
- The company faced challenges in the supply chain, particularly in the Americas, due to a supplier's maintenance issues, impacting production capacity.
- There is a softer demand in Southern Europe and MENA regions, driven by strained consumer spending, affecting volume growth.
- Elopak ASA experienced a decrease in EBITDA compared to Q3 of the previous year, partly due to a one-off effect in the prior year.
- The role-fed business is facing more competition, particularly in Europe, which has impacted growth in that segment.
- The company is operating at full capacity in some areas, limiting its ability to grow carton sales without additional investments.
Good morning and welcome everybody to the third quarter, 2024 results presentation for Opac.
My name is Christian and I'm the Head of Treasury and Investor Relations. Today's presentation will be held by our CEO to O Kend and our CFO Bent Elen and will last for around 30 minutes, followed by a Q&A session where the audience here in Oslo and the people participating online will be able to ask questions.
So with that, I would hand over to our CEO Thomas CDE.
Thank you Christian and a warm welcome to all of you here in Oslo and for all of you who will be following us right now on the web today is all about Q3 and we are actually very happy to report yet another strong result, overall, strong performance in a quite challenging market. So let's get into it as always two words about who we are and we are. For those of you who do not know us, the largest, the world's largest, in fact, fresh liquid carton
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