BEWI
BEWI has presented its results for the fourth quarter and full year 2023. The company recorded net sales of 253 million euros for the quarter, down 23 less than in the last quarter of 2022. On the other hand, it had an adjusted EBITDA of 25 million euros, up from 24 million euros for the fourth quarter of 2022.
Also, it indicated a robust balance sheet, 94 million euros in available cash and credit a reduced demand from building and construction impacted all segments, and increased use of recycled content in production.
"The fourth quarter was a good ending to a rather difficult year. We deliver one of the strongest operational cash flows in our history and strengthen the cash position to 94 million euros in available cash and credit," Christian Bekken, CEO of BEWI ASA, said.
Regarding the full year, the company had net sales of 1,105 million euros, up by 5% from 2022, driven by the acquisitions completed in 2022. Finally, the Adjusted EBITDA was 109 million euros, 19% down from 2022.
"In 2023, the rapid monetary tightening put pressure on household spending and business investments. This led to a substantial decline in the building and construction activity, and consequently, the demand for insulation solutions, impacting all our segments. We are pleased with how we have adapted to the changing market conditions, quickly and effectively," Bekken added.
BEWI is a leading international provider of packaging, components and insulation solutions. Our commitment to sustainability is integrated throughout the value chain, from the production of raw materials and end goods to the recycling of used products. Guided by our vision to protect people and goods for a better every day we are leading the change towards a circular economy.