Norway's Bewi Q3 sales rise on broad-based growth across segments
Norway's Bewi Q3 sales rise on broad-based growth across segments
Overview
Europe packaging and insulation provider's Q3 net sales rose 12% yr/yr to 226.8 mln EUR
Adjusted EBITDA for Q3 increased 30% yr/yr, with margin up to 13.3%
Company proposed extraordinary cash dividend, subject to shareholder approval
Outlook
Company says cost reductions and efficiency will remain key priorities going forward
Company sees growth opportunities in its key markets
Result Drivers
OPERATIONAL EFFICIENCY - Co said improved operational efficiency and margin management drove earnings in Insulation & Construction despite lower volumes
FISH BOX DEMAND - Norwegian fish box business contributed to Packaging & Components growth, supported by strong salmon harvest volumes
CIRCULAR SEGMENT GROWTH - Higher sales prices and increased recycled GPPS volumes boosted Circular segment results
Company press release: ID:nWkr2ZMb18
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales |
| EUR 226.80 mln |
|
Q3 Adjusted EBITDA |
| EUR 30.20 mln |
|
Q3 Adjusted EBITDA Margin |
| 13.30% |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the non-paper containers & packaging peer group is "buy"
Wall Street's median 12-month price target for Bewi ASA is NOK21.00, about 20% above its November 3 closing price of NOK17.50
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 38 three months ago
Reuters Recommended Reads
Nov 3 - SalMar Q3 operational EBIT tops estimates on record volume
Nov 4 - Seafood producer Mowi Q3 EBIT hits record highs on strong salmon volumes
Nov 2 - Fish farmer Bakkafrost Q3 operational EBIT rises on FOF segment growth
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)