Elopak ASA · OSL:ELO
Elopak ASA — SEB Nordic Seminar 2025
18 slides from Elopak ASA's conference presentation, January 2025
Slide 1: Refocusing priorities to accelerate profitable growth
Refocusing priorities to accelerate profitable growth Thomas Körmendi CEO and President at Elopak
Slide 2: 1,000,000 plastic bottles bought per minute
1,000,000 plastic bottles bought per minute ~8% 40% 3x of plastics produced of plastic waste is global plastic waste is set have been recycled from packaging to close to triple by 2060 2 Source: The United Nations Environment Program (UNEP), Business Waste (UK) and The Organisation for Economic Co-o
Slide 3: More sustainable packaging solutions exist already today
More sustainable packaging solutions exist already today 349 Index g/CO2 eq/half-gallon 100% 100 80 206 g/CO2 eq/half-gallon 59% 60 141 g/CO2 eq/half-gallon 40% 95 40 g/CO2 eq/half-gallon 27% 20 0 PET HDPE Fresh cartons Fresh brown board cartons g/CO2 eq/half-gallon Source: Anthesis for Elopak, Nort
Slide 4: We're in the business of sustainable packaging
We’re in the business of Protecting essential commodities sustainable Enabling world nutrition Reducing plastics packaging Chosen by people, packaged by nature 4
Slide 5: Elopak at a glance
Revenue end markets FY23 Revenue by region FY23 Elopak at a glance Other Aseptic 4% 20% Pure-Pak® The world’s largest player in fresh liquid carton packaging cartons 14 billion cartons produced in 2023 76% Fresh Sales to 70+ markets EMEA: ~75% Americas: ~25% 2,700 employees Russia Historical revenue
Slide 6: Offering system solutions known for high quality and innovation
Filling Packaging Aftermarket machines solutions services Offering system State of the art offerings Known for quality Value added solutions known across segments and innovation aftermarket support for high quality and innovation Revenue share: 5% Revenue share: 90% Revenue share: 5% 6
Slide 7: Repackaging tomorrow: Refocusing priorities to accelerate profitable growth
Repackaging tomorrow Refocusing priorities to accelerate profitable growth A strategy focused on creating change: #1 A sustainability frontrunner, offering market leading ~2 By 2030; above market revenue growth with 3 Realize global growth Strengthen position technology in fiber- EURbn improved EBIT
Slide 8: Americas: reliable partner with new plant in Little Rock
Since 2021, we have become a reliable partner for top-tier clients in Americas with EUR 291m in revenues Soon, our new state-of-the-art plant in Little Rock, Arkansas is ready to supply our US customers with high- quality, innovative and sustainable solutions USD 95m Sold out Capex for land, buildin
Slide 9: MENA: leveraging #1 position in fresh
In 2022, we entered MENA with acquisition of the #1 fresh player in the region Today, we are offering a broader range of packaging solutions with target of leveraging our #1 position in fresh to become a challenger in aseptic and extended-shelf-life solutions 2023 Within 5 years 2030 #1 market posit
Slide 10: India: extending position through JV with GLS
In 2022, we entered India through a JV with GLS, becoming EBITDA positive in 2023 with EUR 24m in revenues Now, we are extending our position by introducing our Pure-Pak® carton towards becoming a full solution provider for consumers in the world’s largest dairy market 87 Annual consumption of fluid
Slide 11: Europe: net advantages from PPWR and sustainable innovation
Elopak is well positioned to seek net advantages Today, we are the #1 player in fresh in of PPWR and works on multiple dimensions: Europe Customer testing and Now, we are leveraging our leading Organization and capabilities collaboration innovation capabilities for continued growth in mature markets
Slide 12: Four focus areas for innovation
Four focus areas …to develop further and find for innovation… the most sustainable solution Designed for recycling Aluminium free portfolio Maximize fiber yield Replace plastic closures with more sustainable openings 12
Slide 13: Plastic dominates grocery packaging with ~60% share
Plastic dominates grocery packaging with ~60% share, representing a new and large addressable market Plastic replacement : Conversion potential in 2030 (EURbn)1) 105 13-17 7-8 Near term organic opportunities ~15% of plastic Non-carbonated bottle market with soft drinks, home total plastic care, fami
Slide 14: First mover in home and personal care with D-PAK
Generation 2 Today, we are a first mover supplying top-tier players within home and personal care Now, we are building on our first mover position to increase sales of our current and future generation D-PAK carton solutions and look to expand our portfolio to new adjacencies through acquisitions an
Slide 15: Partnerships and acquisitions as tools for growth
Why not use fiber-based Partnerships and packaging solutions? acquisitions could be tools for value accretive growth Segments exposed to the plastic replacement shift Exploration will be based on some key criteria: Consumer and customer synergies Leverage our barrier and filling technology Deep know
Slide 16: Above market revenue growth to become a EUR 2bn company by 2030
We will deliver above market revenue growth to become a EUR 2bn company by 2030, while improving profitability Revenues EURm 2 000 2 000 Americas India MENA +4-6% ~1 520 1 500 ~60 ~40 ~190 1 132 ~65 ~35 1 000 500 0 2023 Global growth Leadership in Core Plastic 3-5 years Organic and 2030 16 replaceme
Slide 17: Our new mid-term targets for the next 3-5 years
People (2030) Safety <3.2 TRI frequency per 1m hours worked Planet (2030) Our new mid-term C02 -25% (SBTi – absolute Scope 3) targets for the Recyclability 100% next 3-5 years of cartons designed for recycling Profit (3-5 years) Revenue 4-6% organic growth p.a. EBITDA 15-17% adjusted EBITDA margin D
Slide 18: Thank you!
Thank you!