SIG Group AG / CH0435377954
30.04.2024 - 07:00:37SIG Group AG: Stable volumes, initial signs of growth recovery, progress on production footprint
| SIG Group AG / Key word(s): Quarter Results 30-Apr-2024 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Media Release April 30, 2024 Q1 2024 trading update Stable volumes, initial signs of growth recovery, progress on production footprint Q1 2024 revenue, at constant currency, in line with strong prior year (constant currency and constant resin[1] also in line with prior year) Q1 2024 reported revenue declined by 1.0% compared with Q1 2023 Volume growth resuming in key regions, pricing stable Q1 2024 adjusted EBITDA margin 21.5%; set to expand through the year as revenue growth resumes Full year guidance confirmed Samuel Sigrist, CEO, said: “In the first quarter of the year, good volume performance in aseptic and chilled cartons offset the impact of a tough base of comparison for bag-in-box and spouted pouch revenues. For the business as a whole, we expect volume growth to accelerate through the year as consumer confidence improves. Profitability in the second half will benefit from top line growth and we expect an increase in the full year adjusted EBITDA margin to be within the lower half of the 25-26% range. We aim to achieve this while continuing to invest in growth and innovation. Our expansion into new regions is proceeding well with strong growth in India and in other emerging markets such as Latin America. In Q2 2024 we will commence production at our new state-of-the-art chilled carton production facility in China. Located alongside our aseptic carton facilities in Suzhou Industrial Park, the facilities completion, ahead of schedule, positions SIG to capitalise on the strong revenue growth and market share gains in chilled. We believe that the business will benefit from the modern and efficient facilities that we have in Suzhou as well as from our shared infrastructure, existing R&D resources, and our customer testing facility.” Key performance indicators: Q1 2024
Director Investor Relations Tel: +41 52 543 1224 Email: Ingrid.mcmahon@sig.biz Media contact: Andreas Hildenbrand Lemongrass Communications Tel: +41 44 202 5238 Email: andreas.hildenbrand@lemongrass.agency [1] The resin escalator for the bag-in-box and spouted pouch businesses, which passes on movements in resin costs directly to customers, is excluded for year-on-year comparison purposes. [2] Q1 2023 restated to reflect new IMEA segment structure, as presented in the 2023 annual report. [3] The resin escalator for the bag-in-box and spouted pouch businesses, which passes on movements in resin costs directly to customers, is excluded for year-on-year comparison purposes. [4] The resin escalator for the bag-in-box and spouted pouch businesses, which passes on movements in resin costs directly to customers, is excluded for year-on-year comparison purposes. [5] For the different adjustments to EBITDA, refer to the adjusted EBITDA table above. About SIG SIG is a leading solutions provider of packaging for better – better for our customers, for consumers, and for the world. With our unique portfolio of aseptic carton, bag-in-box, and spouted pouch, we work in partnership with our customers to bring food and beverage products to consumers around the world in a safe, sustainable, and affordable way. Our technology and outstanding innovation capabilities enable us to provide our customers with end-to-end solutions for differentiated products, smarter factories, and connected packs, all to address the ever-changing needs of consumers. Sustainability is integral to our business, and we strive to create a net positive food packaging system. Founded in 1853, SIG is headquartered in Neuhausen, Switzerland, and listed at the SIX Swiss Exchange. The skills and experience of our approximately 9,000 employees worldwide enable us to respond quickly and effectively to the needs of our customers in over 100 countries. In 2023, SIG produced 53 billion packs and generated €3.2 billion in revenue. SIG also has an AA ESG rating by MSCI, a 13.9 (low risk) score by Sustainalytics, Platinum CSR rating by EcoVadis, and is included in the FTSE4Good Index. For more information, visit our website. For insights into trends that drive the food and beverage industry, visit the SIG blog. Disclaimer and cautionary statement The information contained in this media release and in any link to our website indicated herein is not for use within any country or jurisdiction or by any persons where such use would constitute a violation of law. If this applies to you, you are not authorised to access or use any such information. This media release contains “forward-looking statements” that are based on our current expectations, assumptions, estimates and projections about us and our industry. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words “may”, “will”, “should”, “continue”, “believe”, “anticipate”, “expect”, “estimate”, “intend”, “project”, “plan”, “will likely continue”, “will likely result”, or words or phrases with similar meaning. Undue reliance should not be placed on such statements because, by their nature, forward-looking statements involve risks and uncertainties, including, without limitation, economic, competitive, governmental and technological factors outside of the control of SIG Group AG (“SIG”, the “Company” or the “Group”), that may cause SIG’s business, strategy or actual results to differ materially from the forward-looking statements (or from past results). For any factors that could cause actual results to differ materially from the forward-looking statements contained in this media release, please see our offering circular for the issue of notes in June 2020. SIG undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise. It should further be noted that past performance is not a guide to future performance. Please also note that quarterly results are not necessarily indicative of the full-year results. Persons requiring advice should consult an independent adviser The declaration and payment by the Company of any future dividends and the amounts of any such dividends will depend upon SIG’s ability to maintain its credit rating, its investments, results, financial condition, future prospects, profits being available for distribution, consideration of certain covenants under the terms of outstanding indebtedness and any other factors deemed by the Directors to be relevant at the time, subject always to the requirements of applicable laws. Some financial information in this media release has been rounded and, as a result, the figures shown as totals in this media release may vary slightly from the exact arithmetic aggregation of the figures that precede them. In this media release, we utilise certain alternative performance measures, including but not limited to EBITDA, adjusted EBITDA, adjusted EBITDA margin, net capex, adjusted net income, free cash flow and net leverage ratio that in each case are not defined in International Financial Reporting Standards (“IFRS”). These measures are presented as we believe that they and similar measures are widely used in the markets in which we operate as a means of evaluating a company’s operating performance and financing structure. Our definition of and method of calculating the alternative performance measures stated above may not be comparable to other similarly titled measures of other companies and are not measurements under IFRS or other generally accepted accounting principles, are not measures of financial condition, liquidity or profitability and should not be considered as an alternative to profit from operations for the period or operating cash flows determined in accordance with IFRS, nor should they be considered as substitutes for the information contained in our consolidated financial statements. You are cautioned not to place undue reliance on any alternative performance measures and ratios not defined in IFRS included in this media release. Alternative performance measures For additional information about alternative performance measures used by management that are not defined in IFRS, including definitions and reconciliations to measures defined in IFRS, please refer to the link below: https://www.sig.biz/investors/en/performance/definitions Additional features: File: SIG_Q124 End of Inside Information | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Language: | English |
| Company: | SIG Group AG |
| Laufengasse 18 | |
| 8212 Neuhausen am Rheinfall | |
| Switzerland | |
| Phone: | +41 52 674 61 11 |
| Fax: | +41 52 674 65 56 |
| E-mail: | info@sig.biz |
| Internet: | www.sig.biz |
| ISIN: | CH0435377954 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1892169 |
| End of Announcement | EQS News Service |
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