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March 2, 2022

SIG registers 14.5% total full-year revenue increase for FY21

The company expects its revenue for FY22 to grow by 22-24% on a constant currency basis.

Swiss aseptic packaging provider SIG has reported total revenue of €2.06bn ($2.28bn) for the fiscal year 2021 (FY21), a 14.5% increase on a constant currency basis from 2020.

On a like-for-like (LFL) basis at constant currency, the total revenue increase was 6.2%.

SIG’s core revenue increased 15% at constant currency to €2.06bn, while its LFL change was 6.6%.

The company’s net income for the year grew to €172.1m, up from €68m a year earlier.

SIG registered an adjusted net income of €252.4m, compared with €232.3m in FY20.

Driven by revenue growth and net contribution of €33.7m from the consolidation of its Middle East and Africa (MEA) business, the company saw its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) grow from €498.3 in 2020 to €570.6 in 2021.

In the fourth quarter, which ended on 31 December, SIG’s total revenue grew by 13.3% on a constant currency basis to €589.3m from the same period of 2020.

The company’s net income for the quarter increased from €11.8m to €43.7m year-on-year.

SIG CEO Samuel Sigrist said: “In 2021, we sustained strong revenue growth throughout the year.

“Our performance globally not only reflects the resilience of our business – it is also testimony to our teams, who have worked tirelessly to ensure flawless service and an ongoing stream of innovation for customers.

“The excellent performance of SIG in 2021 is a strong foundation for the two recently announced acquisitions that will broaden and strengthen our leadership in sustainable packaging solutions for liquid food and beverages.”

For FY22, SIG expects its revenue to grow by 22-24% at constant currency levels and its adjusted EBITDA margin to be around 26%.

Last month, the company agreed to acquire flexible packaging company Scholle IPN for an enterprise value of €1.36bn and an equity value of €1.05bn.

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