Aseptic carton packaging supplier SIG has reported total revenue of €1.54bn ($1.70bn) in the first half (H1) of financial year 2023 (FY23), up 35.1% at a constant currency rate compared to the same period in FY22.

Regionally, revenue in Europe increased by 24.5% on a reported basis while in the APAC and Americas segments, revenue increased by 24.5% and 48.2%, respectively.

For the period ending 30 June, the company’s net income declined to €52.6m from €66.6m in H1 2022.

SIG saw its earnings before interest, taxes, depreciation, and amortisation (EBITDA) increase to €350.1m in H1 FY23 from €238.0m a year ago.

Its diluted earnings per share for the period was €0.14 against €0.19 in H1 FY22.

In the second quarter of FY23, SIG registered total revenue of €811.0m, up from €645.9m in the prior year’s fiscal quarter.

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Its net income for the quarter rose to €29.6m from €13.5m last year.

For the full-year 2023, SIG expects revenue growth of 20-22% at constant currency. It also expects its adjusted EBITDA margin to increase by 50-150 basis points, implying a range of 24-25%.

SIG Group AG’s CEO Samuel Sigrist said: “We are recovering cost inflation and our adjusted EBITDA margin has improved despite the foreseen dilutive impact of acquisitions.

“These acquisitions are meeting our expectations and we continue to identify and to realise cross-selling opportunities between our aseptic carton and bag-in-box, spouted pouch and chilled carton businesses. These, together with our strong pipeline of aseptic carton filling lines, will underpin robust revenue growth in the years ahead.

“Given our strong pipeline and exciting growth opportunities we are investing to ensure we can capitalise on these developments. Our strategic investments include our first aseptic carton plants in Mexico and India, and we are expanding the emerging market presence of our bag-in-box and spouted pouch businesses, which in the past have been more focused on developed markets.

“Our portfolio is ideally suited to these markets where the demand for safe, sustainable and affordable food and beverages is constantly rising.”