Elopak boasts €5.2m 2024 earnings uptick and new US plant launch

Woman worker on an Elopak line after announcing 2024 financial results
Elopak announces launch of US facility and strategy to bolster EBITDA (Image: Elopak)

Global packaging giant Elopak has confirmed a strong 2024, with plans to launch new sites this year

Packaging behemoth Elopak delivered a stunning end to 2024, with revenue up 6.1% on the previous period and EBITDA reaching €40.8m – up 1.7%.

Its full year results tell a stronger story, with EBITDA up €5.2m to over €176m, generating a margin of 15.2%. Revenues for the year were also up 2.2% to €1.1m.

The year also saw Elopak focus on a new strategy, ‘Repackaging tomorrow’, with new mid-term targets also set.

Elopak’s growth strategy

Its new strategy aims to deliver above market revenue growth and improved margins of EBITDA 15-17%.

Within the plan, Elopak will focus on global growth, strengthening its core leadership and leveraging plastic replacement.

As part of its global growth plans, the business will launch a new facility in Little Rock, Arkansas, US.

The facility is on track to open and begin production during the first six months of this year, and is “currently on time and within budget”.

Production capacity for the first production line at Little Rock has already sold out, with revenue per production line at €100m.

By the end of the year, Little Rock is expected to run at full capacity.

Knorr tie-up

The business had performed well in the face of myriad difficulties, including wars, economic downturns and political tensions, said Elopak CEO Thomas Körmendi.

“2024 was a year focused on delivering our strategic priorities,” he said. This included the start of construction of our new plant in the US, the installation of a second Roll Fed packaging production line at our plant in India and strengthening our leadership position with our D-PAK carton solutions.“

Alongside new plant launches, the business had also secured a tie-up with a leading homecare manufacturer, swapping out its products from plastic to carton packaging.

It also marked three decades with French soup business SILL and launched a Knorr La Potagère gazpacho soups range in Pure-Pak.