BEWI
EPS specialist sees signs of possible market improvement / Sales trend up for second consecutive quarter
— By Plasteurope.com staff —
 Is the situation on the EPS market improving? The Norwegian company is seeing the first signs (Photo: Bewi) |
Bewi (Trondheim, Norway; www.bewi.com) is hoping for an upturn. The first three months of 2025 marked the second consecutive quarter in which sales volumes – albeit from a low starting point – increased, said group CEO Christian Bekken. Bewi’s quarterly sales increased slightly to EUR 246 mn, up 0.8% against the same period in the previous year. Adjusted EBITDA, however, declined by 2.2% to EUR 18.2 mn, and net loss widened to EUR 10.3 mn (Q1 2024: down EUR 8.3 mn).
Of these results, revenues of EUR 72.6 mn (up 0.9% compared with Q1 2024) and an adjusted EBITDA of EUR 1.3 mn (down 65%) were attributable to the Raw feedstock division. The EPS specialist intends to sell a majority stake in this division to the investment company The Rock Capital Group (TRCG; Luxembourg; www.rockcapitalgroup.lu), which already controls competitor Unipol (Oss, Netherlands; www.unipol.nl).
Related: Bewi reports improved development in Q4
From continuing operations, Bewi reported a 2.3% increase in revenue to EUR 187.9 mn and a 13% rise in adjusted EBITDA to EUR 15 mn. On balance, however, the net loss of EUR 12.4 mn was slightly higher than in the previous year (2024: down EUR 10.4 mn).
Looking at the remaining divisions, Insulation & Construction increased its sales by 3% to EUR 101.4 mn thanks to higher sales volumes. Cost-cutting measures contributed to the 22% increase in adjusted EBITDA, to EUR 7.9 mn. The Packaging & Components division was able to sell more fish boxes and car components, resulting in a 2.9% increase in revenue, to EUR 77.1 mn. The downside was that margins came under some pressure and, as a result, adjusted EBITDA declined slightly by 2.3% to EUR 9.4 mn.
The Circular recycling division’s EBITDA, however, was still in the red (down EUR 1.1 mn after a minus EUR 1.8 mn in 2024), even though the volumes recycled increased by 69% to 5,095 t of GPPS and turnover went up 14% to EUR 14.2 mn within a year.
Bekken assumes that the market environment will remain challenging. In his opinion, ongoing trade tensions with the US are adding to the uncertainty in the markets.
— Translated by Christopher Köbel
Of these results, revenues of EUR 72.6 mn (up 0.9% compared with Q1 2024) and an adjusted EBITDA of EUR 1.3 mn (down 65%) were attributable to the Raw feedstock division. The EPS specialist intends to sell a majority stake in this division to the investment company The Rock Capital Group (TRCG; Luxembourg; www.rockcapitalgroup.lu), which already controls competitor Unipol (Oss, Netherlands; www.unipol.nl).
Related: Bewi reports improved development in Q4
From continuing operations, Bewi reported a 2.3% increase in revenue to EUR 187.9 mn and a 13% rise in adjusted EBITDA to EUR 15 mn. On balance, however, the net loss of EUR 12.4 mn was slightly higher than in the previous year (2024: down EUR 10.4 mn).
Looking at the remaining divisions, Insulation & Construction increased its sales by 3% to EUR 101.4 mn thanks to higher sales volumes. Cost-cutting measures contributed to the 22% increase in adjusted EBITDA, to EUR 7.9 mn. The Packaging & Components division was able to sell more fish boxes and car components, resulting in a 2.9% increase in revenue, to EUR 77.1 mn. The downside was that margins came under some pressure and, as a result, adjusted EBITDA declined slightly by 2.3% to EUR 9.4 mn.
The Circular recycling division’s EBITDA, however, was still in the red (down EUR 1.1 mn after a minus EUR 1.8 mn in 2024), even though the volumes recycled increased by 69% to 5,095 t of GPPS and turnover went up 14% to EUR 14.2 mn within a year.
Bekken assumes that the market environment will remain challenging. In his opinion, ongoing trade tensions with the US are adding to the uncertainty in the markets.
— Translated by Christopher Köbel
20.05.2025 Plasteurope.com [258004-0]
Published on 20.05.2025