Improving profitability in cautious construction markets

BEWI, a leading provider of packaging, components, and insulation solutions, today reports its results for the third quarter of 2025. The group delivers a solid third quarter, continuing a positive trajectory with volume growth across segments. Net sales reached 202.9 million euro, up from 191.5 million euro for the same period last year. Adjusted EBITDA increased by 12 per cent to 23.2 million euro, mainly reflecting the strong development of the food packaging business.

"We deliver volume growth across all segments and record our highest EBITDA since 2022. This marks the fourth consecutive quarter of year-on-year topline growth. This is mainly driven by the strong performance for our packaging business", says Christian Bekken, CEO of BEWI ASA.

BEWI's insulation business records volume growth in most regions, despite a persistently challenging market environment. Segment sales are in line with the third quarter last year, as volume growth is offset by lower sales prices.

The positive momentum continued for the Packaging & Components segment. The demand for fish boxes is high, driven by strong harvesting volumes in the salmon industry, and revenues from HVAC and automotive components grew significantly.

Since announcing the strategic review of the automotive business, BEWI has made investments to further develop this area. This includes assets to serve long-term projects with major OEMs, as well as expansion of the EPP raw material production, which has led to significant cost reductions. Remaining investments are estimated to approximately 4 million euros for 2026.

"Although each business area has demonstrated positive developments this year, the group's profitability is below expectations. We are actively working to optimise the cost base, with enhancing profitability as our foremost priority ", Bekken continues.

Early in the third quarter, BEWI completed the merger of RAW with Unipol. The transaction enables a strengthening of the raw materials business together with new owners, while also sharpening the group's strategic focus on core operations with higher margins.

Financially, BEWI strengthened its position in the quarter through a private placement, raising 75 million euro and secured long-term financing by refinancing the bond loan and renewing its credit facility.

Going forward, BEWI remains confident in its strategy and long-term potential, supported by its diversified business model and ongoing operational improvements.

Please find attached the full report for the third quarter of 2025, the presentation of the results, and the financials spreadsheet.

CEO Christian Bekken, CFO Marie Danielsson, and CSO Stein Inge Liasjø will present the results through a live webcast from 10:00 CET today. The link to the webcast is available from BEWI's homepage www.bewi.com, and a recording of the webcast will be made available.

For further information, please contact:

Charlotte Knudsen, Chief Communications and IR Officer BEWI ASA, tel: +47 9756 1959

Marie Danielsson, CFO BEWI ASA, tel: +46 70 661 0047

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.

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