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BEWi (BEWI) investor relations material
BEWi Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary12 Nov, 2025
Executive summary
EBITDA and net sales increased in Q3 2025, with profitability driven by strong packaging and components performance, though overall profitability remains below the 15% target; cost reduction and capacity adaptation measures are ongoing.
The merger of RAW and Unipol was completed, sharpening focus on higher-margin core businesses and improving competitiveness; ownership in RAW reduced to 49%.
Strategic review of the automotive business is ongoing, with significant investments and cost reductions achieved in this segment.
Long-term financing was secured through a €250 million bond, €75 million RCF, and €75 million equity/private placement, supporting balance sheet strength and future growth.
Focus remains on enhancing profitability, optimizing costs, and leveraging a diversified business model amid cautious construction markets.
Financial highlights
Q3 2025 net sales increased by 6% year-over-year to €202.9 million, mainly driven by packaging and circular businesses; insulation remained flat due to lower prices despite higher volumes.
Adjusted EBITDA rose 12% to €23.2 million, with margin up from 10.8% to 11.4%, primarily due to packaging and circular segments.
EBIT reached €5.3 million, up from €3.3 million in Q3 2024.
Net result from continuing operations was -€10.1 million, impacted by higher net financial items and one-off refinancing costs of €5.6 million.
Profit from discontinued operations contributed €66.5 million, resulting in a total net profit of €56.5 million.
Outlook and guidance
No formal full-year guidance is provided, but management remains prudent and expects continued improvement in profitability at current volumes.
Construction industry recovery is anticipated due to housing shortages and EU Green Deal initiatives, but timing remains uncertain.
Focus remains on achieving a net debt to EBITDA ratio of 2.5 and reducing leverage to enable future growth.
No ongoing acquisition processes; core focus on energy-efficient building solutions and circular packaging.
RAW JV: How does 49% ownership align with strategy?
Address I&C fixed cost impact on profitability
Automotive investments: What is the ROCE target?
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Q4 202512 Feb, 2026
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Frequently asked questions
BEWi ASA produces, markets and sells various customized packaging solutions and insulation materials, based on expandable polystyrene. The products feature high-quality and custom designs. Products are designed, cut and shipped within 2 weeks with a delivery time in January-December of an added value for the customers. The goal is to ensure customers get their products as soon as possible. The company was founded in 1980 and is based in Trondheim, Norway.
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