SIG Group Ltd

Latest Results (22.12.2024):

Revenue Growth

In the third quarter of 2024, SIG Group Ltd reported a revenue growth of 5.1% at constant currency, or 4.6% when adjusted for constant currency and resin. For the first nine months of 2024, the revenue growth was 3.7% at constant currency, or 3.5% when adjusted for constant currency and resin. This growth highlights the company's resilience and its ability to expand through its global footprint and differentiated technology.

Adjusted EBITDA Margin

SIG Group Ltd's adjusted EBITDA margin for the third quarter of 2024 was 25.0%, slightly up from 24.8% in the same quarter of the previous year. However, for the first nine months of 2024, the adjusted EBITDA margin was 24.0%, a slight decrease from 24.9% in the same period of 2023. The margin was impacted by unfavorable currency movements, which reduced it by 50 basis points.

Regional Performance

For the first nine months of 2024, SIG Group Ltd experienced varied regional performance. Europe saw a revenue growth of 6.4% at constant currency, while the India, Middle East, and Africa (IMEA) region grew by 13.9%. The Asia Pacific region had a modest growth of 1.2%, and the Americas experienced a decline of 1.2% at constant currency. The performance in the Americas improved in the third quarter with a growth of 4.3%.

Net Income and Adjusted Net Income

For the first nine months of 2024, SIG Group Ltd's adjusted net income was €197.7 million, down from €223.4 million in the same period of 2023. This decline was primarily due to higher finance expenses and depreciation. The net income was positively impacted by net gains in unrealized operating derivatives and changes in the valuation of contingent consideration, offset by impairment losses related to the closure of a manufacturing plant in Shanghai.

Capital Expenditure

Net capital expenditure for SIG Group Ltd decreased by €100.9 million to €129.5 million for the first nine months of 2024, compared to €230.4 million in the same period of the previous year. This reduction reflects the near completion of significant investment projects, including new aseptic sleeve plants in India and Mexico, a chilled carton production facility in China, and expanded bag-in-box capacity in the USA.