BEWI delivers strong earnings improvement and cash generation
BEWI, a leading provider of packaging, components, and insulation solutions, today reports its results for the second quarter and first half of 2026. The group reported net sales of 247.8 million euro for the second quarter of 2026, up 19 per cent from 208.2 million euro for the corresponding period last year. Adjusted EBITDA increased by 57 per cent to 34.2 million euro, corresponding to an adjusted EBITDA margin of 13.8 per cent. The strong performance was driven by volume growth and operational improvements across all business segments.
"The second quarter demonstrates the strength of our business model. We deliver strong results across all segments, with Insulation & Construction being the largest contributor this quarter. We benefit from higher volumes, operational improvements and capitalise on investments made. This quarter demonstrates the benefit of our operating leverage, as volume growth translates into even stronger growth in earnings,” says Christian Bekken, CEO of BEWI.
Disciplined working capital management and lower inventory levels contributed to strong cash generation during the quarter, reducing net interest-bearing debt and strengthening the group's financial flexibility.
The positive momentum is also reflected in the results for the first half of the year. Net sales increased by 13 per cent to 446.4 million euro, while adjusted EBITDA increased by 52 per cent to 56.4 million euro.
The Insulation & Construction segment delivered strong growth and a significant improvement in profitability for the quarter. Net sales increased by 18 per cent to 138.2 million euro, supported by volume growth across all regions, while adjusted EBITDA was up by 69 per cent to 17.5 million euro over the same period. The performance reflects higher capacity utilisation and improved operational efficiency.
Packaging & Components continued its positive development across key end markets. Net sales rose by 16 per cent to 97.9 million euro, with the adjusted EBITDA margin remaining solid at nearly 16 per cent. Seafood packaging was the largest contributor to earnings growth during the quarter, while strategic investments within automotive components continued to yield results. The segment also experienced positive development in HVAC and other industrial applications.
The Circular segment delivered an exceptionally strong quarter. Net sales came in at 21.3 million euro, while adjusted EBITDA improved to 2.5 million euro. Higher prices for virgin materials resulted in volume growth and increased sales prices also for recycled materials. Still, the performance reflects years of dedicated efforts to build an industrial-scale circular business model.
“Looking ahead, activity levels remain encouraging across several of our key markets, and initiatives implemented to strengthen operational performance and profitability continue to deliver results. The current
momentum and earnings capacity support solid performance also for the third quarter, taking into account that the second quarter is seasonally the strongest quarter», Bekken concludes.
Please find attached the report for the second quarter and first half of 2026, the presentation of the results, and the financials spreadsheet.
BEWI will present its second quarter and first half 2026 results today, 19 August 2026, at 10:00 CEST. In addition to the quarterly financial results, CEO Christian Bekken and CFO Stein Inge Liasjø will provide a broader update on BEWI's strategic priorities, market developments and long-term growth opportunities. The presentation will be held at House of Oslo (VIA Oslo) and will be broadcast 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 9756 1959
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 a circular business model, the group produces raw materials and end goods, while collecting and recycling used materials into new products.
BEWI's core offering is circular packaging and energy-efficient solutions for the building sector. The group has ambitious targets for profitable growth and for decarbonising both its customer offering and own operations through increased use of recycled materials and renewable energy sources. Innovation and industry partnerships, as well as BEWI's people and culture, are integral to driving long-term value creation.
With its vision to protect people and goods for a better everyday, 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.