Elopak: EBITDA Up, Excluding Arkansas Startup Costs

  • Elopak is expanding in the US, with the Arkansas plant ramping up and another production line coming in 2026 to capture Americas growth in the coming quarters. Startup costs in the US are pressuring near-term EBITDA as well as other mix effects, but profitability remains strong. Valuation is attractive at a forward 10.5x P/E and 6x EV/EBITDA, with significant theoretical free cash flow expected as Arkansas reaches full capacity.