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July 27, 2022

SIG registers 18.3% revenue increase for first half of FY22

The company expects a revenue growth of 22-24% on a constant currency basis for the full year.

Switzerland-based aseptic packaging provider SIG has reported €1.14bn ($1.15bn) in revenue for the first half (H1) of the fiscal year 2022 (FY22).

This figure represents an 18.3% increase on a reported basis and 12.4% rise on a constant currency basis from the corresponding period of the fiscal year 2021 (FY21).

Driven by strong aseptic carton performance in all regions, SIG’s organic revenue grew 7.5% in the six months to 30 June.

Revenues for the company’s Americas business grew by 61.2% to €148.5m during the quarter, while its Middle East and Africa (MEA) operations saw a 30% increase in revenue.

In addition, SIG’s Asia-Pacific (APAC) business recorded a 17.4% growth in revenue during the six-month period.

During H1, SIG’s net income dropped to €66.6m from €92m a year earlier, while its adjusted net income grew from €109.6m in H1 2021 to €115m.

The company’s diluted earnings per share (EPS) also declined to €0.19 in H1, compared with €0.28 a year earlier.

SIG’s H1 earnings before interest, tax, depreciation and amortisation (EBITDA) were €238, while its adjusted EBITDA margin declined to 24.6% from 27.3% in H1 2021.

In the second quarter (Q2) of FY22, the company’s revenue increased by 25.5% on a reported basis to €645.9m compared with €514.5m in the same period of last year.

SIG Group CEO Samuel Sigrist said: “Our business performed strongly in the first half of the year despite the volatile environment.  Organic growth, including both volume and price increases, was robust and accelerated in Q2, especially when compared with an exceptional first half of 2021.”

For FY22, SIG expects full-year revenue growth of 22-24% on a constant currency basis and an adjusted EBITDA margin of around 26%.

Last month, the company completed its previously announced acquisition of flexible packaging company Scholle IPN.

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