Elopak (ELO) Investor Presentation summary

Market context and sustainability trends

• Global plastic waste is projected to nearly triple by 2060, with packaging accounting for 40% of plastic waste and only 8% of plastics recycled.

• Fiber-based packaging solutions offer significantly lower CO2 emissions compared to PET and HDPE alternatives.

• Plastic dominates grocery packaging with a 60% share, representing a large addressable market for fiber-based alternatives.

Business overview and performance

• Holds the #1 global position in fresh liquid carton packaging, producing 14 billion cartons in 2023 and serving 70+ markets.

• Revenue in 2023 was €1,132m, with 75% from EMEA and 25% from the Americas.

• Product portfolio includes over 400 variations, with Pure-Pak® cartons accounting for 76% of revenue.

• System solutions include packaging, filling machines, and aftermarket services, with packaging solutions making up ~90% of revenue.

Strategic priorities and growth initiatives

• Focused on global growth, strengthening core leadership, and leveraging the shift from plastic to fiber-based packaging.

• Aims to achieve above-market revenue growth and become a €2bn company by 2030, targeting an EBITDA margin of 15-17%.

• Expansion in the Americas includes a new plant in Arkansas, with production starting in Q2 2025 and expected revenue of ~€100m per line.

• Entered MENA in 2022, targeting leadership in fresh and aseptic solutions, with projected revenue of €90m by 2030.

• Entered India via JV, becoming EBITDA positive in 2023 and aiming for €150m revenue by 2030.