European aseptic packaging provider SIG has reported that its total revenue was €496.7m ($526.35m) in the first quarter (Q1) of the fiscal year 2022 (FY22).

This figure represents a 6.0% increase on a constant currency basis from the corresponding period of FY21.

For the three months to 31 March, the company’s revenue in Europe increased by 1.0% from last year, while its Middle East and Africa (MEA) business saw its revenue increase by 8.8% year-on-year.

In the Asia-Pacific region, SIG saw its revenue increase by 6.5% at constant currency, while in the Americas, the company continued to grow after two ‘exceptional’ years and a ‘strong’ Q1 2021.

SIG reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of €118.7m in Q1, compared with €117.9m in the same period of last year.

Its adjusted EBITDA margin dropped to 23.9% from 26.1% in Q1 2021.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Driven by positive movements in EBITDA, SIG saw its net income increase from €2.9m in Q1 2021 to €53.1m ($56.2m) in Q1 2022.

For FY22, the company expects its full-year revenue to grow by 22-24% at constant currency rates and has forecast an adjusted EBITDA margin of around 26%.

In a statement, SIG said: “The group expects its business in Russia and Ukraine to be impacted by the war and the related sanctions. In 2021, sales from Russia and Ukraine amounted to less than 2% of group revenue.

“The most recent tightening of sanctions is expected to impact the full-year growth rate by approximately 100-150 basis points.”

In February, SIG agreed to purchase flexible packaging company Scholle IPN for an enterprise value of €1.36bn and an equity value of €1.05bn.

Earlier in the year, the company acquired Pactiv Evergreen’s carton packaging and filling machinery businesses in China, Korea and Taiwan, collectively known as Evergreen Asia, for around $335m.

Packaging Gateway Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Packaging Gateway Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now