NORWAY – Global packaging leader Elopak has introduced its ambitious “Repackaging Tomorrow” strategy, aiming to double its revenue to €2 billion (US$2.21bn) by 2030.
The company’s revised corporate strategy builds on its success in fibre-based packaging and growing demand for sustainable solutions.
CEO Thomas Körmendi emphasized Elopak’s solid financial performance and strategic progress since going public in 2021.
With a clear focus on sustainability, innovation, and market expansion, the company is well-positioned to achieve its bold growth targets. The new strategy centers around three key pillars:
Global expansion: Elopak plans to seize emerging opportunities in key markets, including the US, Middle East, North Africa, and India. Investments in new production facilities and strategic partnerships will drive growth in these regions.
Market leadership: In Europe, Elopak aims to strengthen its leading position by leveraging its expertise in sustainability and innovation. The company is ready to capitalize on upcoming regulations and increasing consumer demand for eco-friendly packaging.
Plastic replacement: Elopak will expand its portfolio to offer sustainable alternatives to plastic packaging, particularly with its D-PAK carton for home and personal care products. Strategic acquisitions and partnerships in adjacent sectors will also help accelerate growth.
Sustainability commitments
In addition to financial goals, Elopak has set updated sustainability targets. By 2030, the company aims to design 100% of its cartons for recycling and reduce its Scope 3 emissions by 25%.
Körmendi stated, “As a market leader in fibre-based packaging, Elopak is well-positioned to benefit from increased regulations and growing sustainability awareness among customers and consumers. With our strong track record and innovation pipeline, our entire product portfolio will be designed for recycling by 2030.”
Progress in reducing emissions
In April, Elopak reported a 33% reduction in direct emissions from its 2020 baseline, covering Scope 1 and Scope 2 emissions, including electricity, natural gas, and waste incineration.
This achievement is part of the company’s commitment to reaching net zero emissions by 2050, with an interim target of reducing direct emissions by 42% by 2030, in alignment with the Science Based Targets initiative (SBTi).
Elopak’s first combined annual and sustainability report highlighted key milestones, such as a 29% reduction in emissions from its filling machines in 2023. Additionally, the average carbon footprint per Elopak carton decreased from 23.9gCO2e in 2022 to 23.3gCO2e in 2023.
These efforts underline Elopak’s dedication to balancing financial growth with environmental responsibility.
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