BEWi (BEWI) Q3 2025 earnings summary

Executive summary

• Profitability improved in Q3 2025, driven by strong performance in Packaging & Components and improved results in Circular, despite subdued construction markets.

• Merger of RAW and Unipol completed, with a €75M private placement and long-term financing secured.

• Strategic focus shifted to higher-margin businesses, cost optimization, and ongoing profitability measures.

Financial highlights

• Net sales increased by 6% year-over-year to €202.9M in Q3 2025.

• Adjusted EBITDA rose by 12% to €23.2M, with margin improving to 11.4%.

• EBIT reached €5.3M, up from €3.3M in Q3 2024.

• Net result from continuing operations was a loss of €10.1M, but total operations showed a profit of €56.5M due to discontinued operations.

• Net sales for 9M 2025: €599.1M, up 2.8% year-over-year.

Outlook and guidance

• Prudent outlook for the remainder of 2025, with continued focus on profitability improvements and leverage reduction.

• Demand for EPS fish boxes expected to remain strong; construction markets show gradual but uneven recovery.

• No ongoing acquisition processes.