Q4 2024 Bewi ASA Earnings Call Transcript
Key Points
- Bewi ASA (OSL:BEWI) achieved organic growth in both top line and EBIT for the first time in nine quarters.
- The company reported a 3% increase in net sales for the fourth quarter, reaching EUR191 million.
- Bewi ASA (OSL:BEWI) has increased its collection of used EPS by nearly 30% in 2024, reaching 35,000 tonnes.
- The merger with Unipol positions Bewi ASA (OSL:BEWI) as the most cost-efficient producer in Europe with a strong recycled offering.
- The company has strengthened its financial position by reducing net interest-bearing debt by EUR67 million in 2024.
- Bewi ASA (OSL:BEWI) did not reach its ambitious target of collecting 45,000 tonnes of used EPS in 2024.
- The EBIT margin for the fourth quarter was 9.7%, which, although an improvement, still falls short of the company's financial target of 15%.
- The insulation and construction segments experienced a loss, with more than 50% of this loss coming from joint ventures in Germany and France.
- The company's raw material division reported lower volumes in the fourth quarter due to regional market differences and cautious customer inventory buildup.
- Despite improvements, the leverage remains above target, with a slight increase in the fourth quarter.
Hello and welcome to the presentation of the results for the fourth quarter of 2024 for Bewi. My name is Christian Bekken and together with me, as always, our CFO Marie Danielsson. In addition, I'd like to take this opportunity to introduce Stein Inge Liasjø, who is the Chief Strategy Officer at Bewi. He will update us on the transactions.
Today, we will touch upon three things. One, the markets. We see organic growth. Two, we have a solid progress within circular and we'll also talk about strategic transactions. This quarter we have organic growth in both the top line and EBIT for the first time in nine quarters. We are seeing increased volumes in insulation in Q4, and these trends grow stronger into this year.
Volume wise, we also have an increase in fish boxes this quarter although this will vary between quarters, we expect an overall growth in the fish box volumes from 24 to 25. Both downstream segments have done a great job with what we call price management which isn't just about adjusting prices but also about choosing to say
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