SIG Group: Strong revenue growth and high level of filler placements
News General news
Full year 2022 highlights
- Fourth quarter constant currency revenue growth 39.9%, constant currency organic revenue growth 9.8%
- Full year constant currency revenue growth 27.4%, constant currency organic revenue growth 8.0%
- Volume growth and successful implementation of price increases (~4.5% yoy), protecting absolute EBITDA
- Adjusted EBITDA margin 23.5% (2021: 27.7%) reflecting dilution from acquisitions, price increases and uncovered cost inflation – continuing to be offset through price increases in 2023
- Over 90 filling machines placed in 2022 and strong pipeline of placements for 2023
- 2023 outlook: 20-22% revenue growth at constant currency, 50-150 bps increase in adjusted EBITDA margin
- Mid-term guidance maintained
- Proposed dividend of CHF 0.47 per share (2021: CHF 0.45), paid from the foreign capital contribution reserves
Samuel Sigrist, CEO of SIG, said: “In 2022, in line with our ambition to be the global leader in sustainable packaging for liquid food and beverages, we expanded our offering of systems and solutions. Following the acquisitions of Scholle IPN and Evergreen Asia, the offering now includes bag-in-box and spouted pouch, as well as chilled carton in Asia, in addition to our full range of aseptic carton solutions. The acquisitions broaden our platform for growth, with many opportunities to build on our proven strategy of geographic, category and channel expansion.
The aseptic carton business delivered robust organic growth of 8% for the year, a combination of volume and price, with share gains in multiple markets. Our customers continue to invest in new filling machines even in an uncertain economic environment, and this will underpin our growth for many years to come.
Integration of the acquired companies is well underway and already yielding initial revenue synergies. We will leverage our significant investments in R&D and exploit the many opportunities of our combined portfolio to continue our track record of industry firsts in innovation and sustainability to deliver ever better packaging. We aim to sustain the highest environmental, social and governance standards across the Group. 2022 saw further recognition of our ESG achievements, with our selection as a partner for WWF Switzerland and our inclusion in the FTSE4Good index.”
