Elopak posts record Q3 EBITDA of EUR 51.9m as board supply disruption cuts Americas profit
Elopak reported third-quarter 2026 group EBITDA of EUR 51.9m, a 16.8% margin and the highest quarterly figure in its history, on revenue of EUR 308.4m, up 6.5% year on year. Americas EBITDA fell 8.2% to EUR 20.1m as board supply disruption linked to the Nippon incident limited volume growth, while EMEA posted adjusted EBITDA of EUR 44.5m, a 20.4% margin, on revenue up 7.5%.
Why this mattersA leading carton maker's results show European carton demand and pricing holding up while a single supplier disruption still constrains its US growth and margins.
- Q3 2026 group EBITDA was EUR 51.9m at a 16.8% margin, the highest quarterly EBITDA in company history
- Q3 group revenue was EUR 308.4m, up 6.5% year on year (6.0% at constant currency)
- Americas revenue rose 5.9% to EUR 97.5m but EBITDA fell 8.2% to EUR 20.1m, margin 20.6% from 23.8%, on board supply disruption linked to the Nippon incident
- Supply disruption cost EUR 2.6m in Q3 not yet covered by insurance; group margin would have been about 17.5% without it
- EMEA revenue was EUR 218.1m, up 7.5%, with adjusted EBITDA of EUR 44.5m, a 20.4% margin
- Adjusted EPS rose 37.8% to EUR 0.09; leverage held at 2.2x