Elopak’s first quarter (Q1): Navigating softer market developments with discipline and strategic focus

Elopak ASA ("Elopak", Oslo Børs Ticker: ELO) reports stable revenues of EUR 298.2 million for the first quarter on a constant currency basis and EBITDA of EUR 41.0 million, after adjusting for restructuring costs.

First quarter 2026 summary:

• Group revenue for Q1 2026 remained stable on a constant currency basis, but declined by 3.9% in EUR terms, as currency headwinds and lower equipment sales outweighed volume growth in Americas
• Americas achieved 6.0% constant currency revenue growth and an EBITDA margin of 22.3%, driven by the plant in Little Rock
• Adjusted EBITDA amounted to 41.0 million in the quarter, corresponding to an adjusted EBITDA margin of 13.8%, compared to 14.4% in the same quarter last year, mainly reflecting currency impacts and one‑off items
• Net profit attributable to Elopak shareholders was EUR 16.9 million, in line with prior year, and the financial position remained solid with a leverage ratio of 2.2x and ROCE at 15.1%

Commenting on Elopak’s performance, CEO Thomas Körmendi said: “The ongoing geopolitical situation poses challenges for all global businesses; however, we remain confident in our ‘Repacking tomorrow’ strategy and in delivering on our mid-term targets”.

Ahead of the quarterly earnings announcement, Elopak collects earnings estimates from the equity analysts currently covering Elopak. The consensus estimates and the methodology used are published on Elopak’s Investor Relations website: www.elopak.com/investor-relations/share-information/analyst-coverage/.

The Q1 2026 results will be presented today at Hotel Continental, Stortingsgaten 24/26, Oslo, at 09:00 (CEST). The presentation will be held in English by CEO Thomas Körmendi and CFO Bent Kilsund Axelsen. To access the live webcast of the results presentation, please use the following link: https://qcnl.tv/p/IO-Fd1YOKNdQQJBCqpwASg.

For the full report and presentation, please see the attachment or visit www.elopak.com/investor-relations.

For further information, please contact:
Investors:
Christian Gjerde, Head of Treasury and Investor Relations
E-mail: [e-mail]
Tel: [phone]

Media:
Yannick Vanderveeren, Senior Communications Manager
E-mail: [e-mail]
Tel: [phone]

This information is subject to disclosure under the Norwegian Securities Trading Act, §5-12. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-05-05 07:00 CEST.

About Elopak
Elopak is a leading global supplier of carton packaging and filling equipment. The company’s iconic Pure-Pak® cartons are made using renewable, recyclable and sustainably sourced materials, providing a natural and convenient alternative to plastic bottles that fits within a low carbon circular economy.

Founded in Norway in 1957, Elopak was listed on the Oslo Stock Exchange in 2021. Today it employs 3,000 people and sells 16 billion cartons annually across more than 70 countries.

Elopak is a UN Global Compact participant member. We have set Science Based Targets to reduce emissions in line with the 1.5-degree trajectory and aim to be Net-Zero by 2050. In 2023, we achieved a gold rating by EcoVadis and were rated top 2% sustainable companies in the world.

For more information, go to www.elopak.com or follow us @Elopak on LinkedIn.

Attachments
Elopak ASA Q1 2026 Report
Elopak ASA Q1 2026 Presentation