Elopak (ELO) Q4 2025 earnings summary

Executive summary

• Achieved record full-year revenues exceeding EUR 1.2 billion, with organic growth of 5.9% for the year and 15% in Q4, driven by robust Americas performance and the ramp-up of the U.S. Little Rock plant.

• EBITDA rose to EUR 184.7 million for the year (15.3% margin) and EUR 46.2 million in Q4 (14.6% margin), both showing year-over-year improvement.

• Record cash flow from operations reached EUR 63.1 million in Q4 and EUR 171 million for the year, supporting deleveraging and investments.

• Proposed full-year dividend of EUR 0.132 per share, representing 59% of normalized net profit, with a shift to semi-annual payments.

• CEO transition announced, with succession planned post-reporting period.

Financial highlights

• Q4 revenues reached EUR 316 million, up 13.1% year-over-year; full-year revenues at EUR 1,206 million, up 4.2%.

• Q4 EBITDA increased by EUR 5.3 million to EUR 46.2 million; full-year EBITDA up EUR 8.6 million to EUR 184.7 million.

• EPS doubled in Q4 to EUR 0.06; full-year adjusted EPS at EUR 0.23.

• Cash flow from operations up 23% year-over-year to EUR 171 million.

• Capex for the year was EUR 86 million, down 21% year-over-year.

Outlook and guidance

• Expectation to deliver on mid-term targets: 4-6% organic revenue growth p.a., 15-17% EBITDA margin, 50-60% dividend payout of normalized net profit, and leverage around 2.0x net debt/EBITDA.

• CapEx for 2026 projected at the higher end of 5%-7% of revenue due to ongoing investments, especially in the U.S.

• Focus remains on sustainable growth, operational excellence, and capital discipline amid inflationary and geopolitical headwinds.