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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
BEWi
BEWi (BEWI) investor relations material
BEWi Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary19 Aug, 2026
Executive summary
Net sales rose 19% year-over-year to EUR 247.8 million in Q2 2026, with adjusted EBITDA up 57% to EUR 34.2 million and net profit at EUR 11.4 million, reflecting strong volume growth and improved operational execution across all segments.
Insulation & Construction led growth, with volumes up 14% and adjusted EBITDA up 69%, while Packaging & Components and Circular segments also delivered robust sales and earnings improvements.
Free cash flow was robust at approximately EUR 37 million for the quarter, driven by operational performance and working capital release.
The group is executing on its strategy, focusing on operational improvements, cost discipline, and leveraging investments in capacity and efficiency.
Cash generation was strong, supported by disciplined working capital management and lower inventory levels.
Financial highlights
Q2 2026 net sales: EUR 247.8 million (Q2 2025: EUR 208.2 million), up 19.0%; adjusted EBITDA: EUR 34.2 million (Q2 2025: EUR 21.7 million), up 57.3%; EBITDA: EUR 36.1 million (Q2 2025: EUR 20.4 million), up 77.0%.
EBITDA margin improved from 10.4% to 13.8% in Q2, with a group ambition of 15% margin.
Net result from continuing operations was EUR 11.4 million, up from EUR -7.3 million last year.
Year-to-date, group sales increased 13% and EBITDA 52% year-over-year; H1 2026 net sales totaled EUR 446.4 million.
Cash and cash equivalents stood at EUR 91.7 million at quarter-end.
Outlook and guidance
Mid-term targets include EUR 1 billion in net sales and EUR 150 million in adjusted EBITDA, with a 15% EBITDA margin.
Expect continued margin improvement as volumes recover, with increased capacity utilization and operational improvements.
End markets are projected to grow 5%-7% annually; company aims to outpace market growth.
CapEx to remain disciplined at around EUR 20 million annually, focusing on capitalizing on existing investments.
Free cash flow outlook is strong, targeting EUR 75 million before significant new builds and financing.
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Latest events from BEWi
- Weak markets pressured earnings, while cash generation and disposals supported liquidity.BEWI
Q2 2024 - Downstream resilience and strong cash flow support insulation-led growth amid weak markets.BEWIQ3 2024
- Q2 2026 saw 19% sales growth, 57% higher adjusted EBITDA, and strong cash generation.BEWIQ2 2026
- Adjusted EBITDA rose 44% to EUR 22.2 million, with all segments showing volume growth.BEWIQ1 2026
- Adjusted EBITDA up 44% and net sales up 5.7% year-over-year, with strong segment growth.BEWIQ1 2026
- Sales and profitability grew in 2025, with leverage down and strong segment performance.BEWIQ4 2025
- Q2 2025: Packaging drives 13% EBITDA growth; equity issue planned to strengthen finances.BEWIQ2 2025
- Q2 2024 saw lower sales and EBITDA but strong cash flow and readiness for market recovery.BEWIQ2 2024
- Sales and EBITDA growth continue as strategic actions and cost controls drive positive outlook.BEWIQ1 2025
Next BEWi earnings date
Q3 20264 Nov, 2026
BEWi
Next BEWi earnings date
Q3 20264 Nov, 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.