BEWI – Completion of acquisition of shares in listed Polish company IZOBLOK02-09-2021
BEWI – Completion of acquisition of shares in listed Polish company IZOBLOK
Reference is made to the stock exchange release dated 28 April 2021 regarding BEWI ASA’s acquisition of a majority stake of the listed Polish company IZOBLOK Spólka Akcyjna (“IZOBLOK”), a leading European provider of Expanded Polypropylene (EPP) components to the automotive industry, and the subsequent mandatory offer for up to two-thirds of the voting rights in IZOBLOK, and the stock exchange release dated 7 July 2021 regarding completion of the acquisition of the majority stake of IZOBLOK.
The subsequent mandatory offer has now been completed. BEWI now owns 54.66 per cent of the shares, corresponding to 66 per cent of the voting rights, of IZOBLOK.
On 26 August 2021, IZOBLOK announced the consolidated results for the fourth quarter and full year 2020/ 2021, i.e., from 1 May 2020 to 30 April 2021. For the fourth quarter, the company reported consolidated revenues of PLN 50.2 million, compared to PLN 34.5 million for the corresponding period the last year, and an EBITDA of PLN 1.8 million, compared to a negative PLN 0.4 million for the same quarter the year before. For the full year, IZOBLOK recorded consolidated revenues of PLN 186.5 million, 1 per cent higher than for the previous year. EBITDA for the full year came in at PLN 9.6 million this year, down from PLN 17.2 million the previous year. As previously communicated, IZOBLOK’s revenues and results has been negatively impacted by the severe implications the Covid-19 pandemic has had for the automotive industry.
IZOBLOK’s financial reports are available from IZOBLOK’s website, www.izoblok.pl (only in Polish). IZOBLOK’s financials will be consolidated into BEWI’s accounts from 1 July 2021.
For further information, please contact:
Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 975 61 959
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 production of raw materials and end goods, to recycling of used products. 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.