BEWI ASA – Results for the fourth quarter and full year 2020
24-02-2021
BEWI ASA – Results for the fourth quarter and full year 2020
BEWI, a leading provider of packaging, components, and insulation solutions, reports net sales for the fourth quarter of 2020 at 130.2 million euro, up by 25 per cent from the corresponding period of 2019. Adjusted EBITDA for the quarter came in at 16.4 million euro, up from 9.5 million euro for the same period of 2019.
“We are delivering another quarter with solid operational performance. We grow our sales by 25 per cent over the fourth quarter last year, driven by higher volumes in all segments, in addition to the contribution from acquired companies. Most of our operating units also record improved EBITDA, which is impressive given the demanding work environment coming from the pandemic” says Christian Bekken, CEO of BEWI ASA.
During the fourth quarter, the integration of the Norwegian packaging and insulation company BDH Holding AS, acquired in August, progressed as planned. Also, BEWI divested properties in the Netherlands of approximately 33 million euro in the fourth quarter, continuing its strategy to divest properties to release capital for growth.
In the fourth quarter, segment RAW experienced a strong underlying demand, while the insulation segment recorded slightly improved volumes, coming from the Nordic market. The industrial construction market in the Benelux region continues to be weak, but an improvement was noted in the housing market in the region. In the Packaging and Components segment, BEWI recorded volume increase in all regions, with the strongest increase in Norway.
In BEWI, both organic- and M&A growth initiatives, remain a high priority. The company continued its investments in its recycling facility in Portugal and new fish box facility at Senja in the quarter and invested in new machinery and technology at other facilities.
“Going into 2021, our well-performing operations and recent divestments provide us with a strong cash position. This, combined with ongoing growth initiatives and a solid pipeline of M&A opportunities, give us a very solid foundation for further growth,” Bekken continues.
Based on the company’s financial position, investment plans and growth ambitions, the board of directors of BEWI proposes to pay a dividend of NOK 0.42 per share for the financial year of 2020.
For further information, please contact:
Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 9756 1959
About BEWI ASA
BEWI is an international provider of packaging, components, and insulation solutions. The company’s commitment to sustainability is integrated throughout the value chain, from the production of raw materials and end goods to recycling of used products. The company creates value for customers by offering sustainable solutions in innovative and efficient ways. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.
BEWI ASA is listed at the Oslo Børs under ticker BEWI.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
