BEWI – Results for the third quarter of 2026
04-11-2026
BEWI – Results for the third quarter of 2026
BEWI delivers continued sales growth and broad-based profitability improvement
BEWI, a leading provider of packaging, components and insulation solutions, today reports its results for the third quarter of 2026. The group reported net sales of 226.8 million euro, up 12 per cent from 202.9 million euro for the corresponding quarter last year. Adjusted EBITDA increased by 30 per cent to 30.2 million euro, corresponding to an adjusted EBITDA margin of 13.3 per cent, up from 11.4 per cent. All three segments contributed to the earnings improvement.
“BEWI delivered year-on-year sales growth for the eighth consecutive quarter, while continuing to improve profitability across all segments. Insulation & Construction increased earnings despite lower volumes, Packaging & Components delivered record-high adjusted EBITDA, and Circular continued its profitable development. This demonstrates that we have built a stronger and more robust earnings platform,” says Christian Bekken, CEO of BEWI.
The earnings contributed to solid cash generation, with cash flow from operating activities of 26.4 million euro for the quarter. Net debt excluding IFRS 16 and other financial assets was reduced to 150.1 million euro at the end of September, compared to 197.4 million euro at year-end 2025.
The positive development is also reflected in the results for the first nine months. Net sales increased by 12 per cent to 673.2 million euro, while adjusted EBITDA increased by 43 per cent to 86.6 million euro. The adjusted EBITDA margin improved to 12.9 per cent, from 10.1 per cent for the corresponding period last year.
The Insulation & Construction segment increased sales by 6 per cent to 112.9 million euro and adjusted EBITDA by 11 per cent to 11.0 million euro, corresponding to a margin of 9.7 per cent. Volumes were down 9 per cent in the quarter, mainly reflecting the weak residential newbuilding markets for commodity products in the Nordics. For the first nine months, volumes were 3 per cent above the corresponding period last year. The earnings improvement reflects increased operational efficiency and strengthened margin management.
Packaging & Components delivered a strong quarter, with growth across all product groups. Net sales increased by 18 per cent to 101.8 million euro, while adjusted EBITDA increased by 25 per cent to a record-high 18.6 million euro. The adjusted EBITDA margin came in at 18.2 per cent. The Norwegian fish box business was an important contributor, supported by strong salmon harvest volumes.
The Circular segment continued its profitable development. Net sales increased by 33 per cent to 20.0 million euro, supported by higher sales prices and a 49 per cent increase in sales volumes of recycled GPPS. Adjusted EBITDA improved to 1.8 million euro from negative 0.7 million euro for the corresponding quarter last year.
“Looking ahead, we are confident in the growth opportunities in our key markets. We have significantly strengthened profitability through cost reductions and more efficient operations, and this remains one of our key priorities going forward. With a solid financial position and structurally improved earnings capacity, we are well positioned to deliver profitable growth,” Bekken concludes.
The board of directors of BEWI has resolved to propose an extraordinary cash dividend of NOK 1.15 per share, based on the company’s approved annual accounts for 2025. The proposed dividend is subject to approval by an extraordinary general meeting, expected to be held on 1 December 2026.
Please find attached the report for the third quarter of 2026, the presentation of the results and the financials spreadsheet.
BEWI will present its results for the third quarter of 2026 today, 4 November 2026, at 10:00 CET. CEO Christian Bekken and CFO Stein Inge Liasjø will present the results at House of Oslo (Via Vika), Ruseløkkveien 34. The presentation will also be broadcasted live via webcast. Questions may be submitted through the webcast, and a recording will be made available afterwards.
For further information, please contact:
Charlotte Knudsen, Investor Relations Officer BEWI ASA, tel: +47 975 61 959
Stein Inge Liasjø, CFO BEWI ASA, tel: +47 464 02 353
About BEWI ASA
BEWI is a leading European provider of packaging, components, and insulation solutions. Through an integrated business model, the group produces raw materials and end goods, while also collecting and recycling used materials into new products.
Guided by its vision to Protecting people and goods for a better everyday, BEWI’s core offering is recyclable packaging and solutions for enhanced energy performance in buildings. People, an innovate culture, and close collaboration with partners across the value chain are cornerstones for securing long-term value for customers and owners.
BEWI ASA is listed on Euronext Oslo Børs under the ticker BEWI.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and the Norwegian Securities Trading Act section 5-12. This stock exchange announcement was published by Charlotte Knudsen, at the date and time as set out above.
