BEWI, a leading provider of packaging, components, and insulation solutions, today reported its results for the second quarter and first half of 2022. The company recorded net sales of
"We are pleased to deliver another record quarter for BEWI. The results are backed by continued solid demand from our key markets, good operational performance, and strong price management," says
"Although market demand has remained solid, the business landscape has been challenging and to a certain degree unpredictable this year. Despite this, our organisation has managed to manoeuvre impressively well, delivering the strong results," Bekken continues.
For the first six months of 2022, BEWI had revenues of
All business segments contribute to the organic growth compared to, mainly due to strong price management. Styrene prices continued to increase in the second quarter, with stable demand for EPS raw material, resulting in a continued strong GAP.
In the first half of 2022, BEWI has completed the acquisition of the Norwegian paper packaging company Trondhjems Eskefabrikk and the recycling platform company
Further, the company has announced its acquisition of the Lithuanian packaging and insulation company BalPol, which is expected to be completed in the third quarter this year, and finally, the company has received approval from all relevant competition authorities to close the
Going forward, BEWI expects a stable long-term demand in its key markets, including the markets for food packaging, insulation, HVAC (heating, ventilation, air-condition) and automotive components, based on strong underlying fundamentals. Challenges and uncertainty related to the global supply chain shortages, high energy prices, and concerns around inflation and increasing interest rates are closely monitored and managed in the daily operations. So far, these factors have not had any material impact on demand.
BEWI's strong results and solid financial position, enable the company to continue its active M&A strategy going forward, pursuing attractive growth opportunities within selected industries and markets.
Please find attached the full report for the second quarter and first half of 2022, the presentation of the results and the financials spreadsheet.
CEO
For further information, please contact:
About
BEWI is an international provider of packaging, components, and insulation solutions. The company's commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.
The information is such that
https://news.cision.com/bewi-asa/r/bewi---results-for-the-second-quarter-and-first-half-of-2022,c3612570
https://mb.cision.com/Public/19971/3612570/8877f84d463c516e.pdf
https://mb.cision.com/Public/19971/3612570/9ecf75b1bc59cb1c.pdf
https://mb.cision.com/Public/19971/3612570/923aa1d2fd63742f.xlsx
(c) 2022 Cision. All rights reserved., source