BEWSynbra recorded net sales of
"We are very pleased with the results for the first quarter this year. After experiencing volume increases in most of our regions and segments throughout 2020 and into 2021, sales prices increased this quarter, resulting in a 42 per cent growth in net sales over the first quarter last year. Of this, acquired companies contribute to approximately half of the increase. The increase in sales prices follows a historically sharp increase in raw material prices, a consequence of the shortage of Styrene in
"The shortage of Styrene, has caused a challenging market situation for the EPS industry, including us. However, our integrated business model, combined with our robust procurement strategy, have once again proved to be a competitive advantage to us" Bekken continues.
The raw prices have continued to increase into the second quarter. This has impacted the supply of the EPS raw materials, which, combined with strong demand cause further increase in the price of EPS. According to market analysts, EPS contract prices is expected to increase approximately 40 per cent in the second quarter compared to the first quarter this year. The difference (GAP) between the prices of EPS raw materials and Styrene is expected to end 25 to 30 per cent above the normal range of
Going forward, BEWI is well-positioned. The company has solid operational performance, a proven business model and experience strong underlying demand. This, combined with a pipeline of M&A opportunities and a robust financial position, enable the company to continue pursuing growth opportunities in line with its strategy.
Please see the full report for the first quarter of 2021 and the presentation of the results attached.
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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
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