Elopak ASA has reported a strong third quarter for 2025, posting its highest quarterly EBITDA to date as demand continued to rise in the Americas.
The Norway-based packaging group reported Q3 EBITDA of EUR 49.1 million, delivering a 17.0% margin, while organic revenue increased 1.2% year-on-year to EUR 289.7 million.
Growth was driven mainly by the Americas, where sales rose 18% year-on-year on a constant currency basis. Customer demand in the region remained strong across food and beverage packaging.
A key milestone during the quarter was the performance of the Little Rock, Arkansas plant, which delivered its first profitable quarter. The site supplies carton packaging to food and beverage producers serving the US market and is now ramping up commercial production faster than expected.
In response, the group confirmed it will accelerate capacity expansion at the Little Rock facility with a USD 30 million investment in a third production line. The decision comes one year ahead of plan, reflecting confidence in long-term customer demand in the US.
The expansion strengthens its position as a US packaging company supplier to dairy, beverage and liquid food producers, many of which support large supermarket and private-label ranges.
Alongside growth, the group also reported a stronger balance sheet. Solid cash flow during the quarter reduced net debt by EUR 34 million, lowering leverage to 2.1x.
CEO Thomas Körmendi said the results showed clear progress against the company’s strategy, linking improved profitability with portfolio expansion and continued investment in carton-based packaging.
The business also reiterated its focus on replacing plastic packaging with renewable carton solutions, particularly as retailers and food brands increase sustainability requirements.
Full Q3 2025 results will be presented on 28 October 2025 in Oslo, with a live webcast available via the investor relations platform.
Why It Matters
Elopak’s accelerated investment in the US signals sustained demand for carton packaging from food and grocery supply chains. For supermarkets and FMCG brands, added capacity reduces supply risk and supports long-term moves away from plastic packaging.
About Elopak
Elopak is a global packaging company that specialises in paper-based carton packaging for liquid food and beverage products. Its cartons are widely used for milk, dairy products, juices, plant-based drinks and liquid foods sold through supermarkets and foodservice channels.
The company supplies packaging systems and cartons to food and drink producers that serve both branded and private-label supermarket ranges. Elopak is known for its focus on renewable materials and carton solutions designed to replace plastic packaging.
While headquartered in Europe, Elopak has expanded strongly in recent years and now operates as an important US packaging company supplier, with production facilities supporting food and beverage customers across North America.
Editor’s note: This article is based on Elopak ASA’s official Q3 2025 results announcement.
