Ad hoc
Ad hoc announcement pursuant to Art. 53 LR
Third quarter and nine months 2024 trading update
October 29, 2024
Continued carton strength, improving performance at bag-in-box and spouted pouch
- Q3 2024 revenue growth, at constant currency, +5.1% (constant currency and constant resin1,2 + 4.6%)
- 9M 2024 revenue growth, at constant currency, +3.7% (constant currency and constant resin1,3 + 3.5%)
- Q3 2024 adjusted EBITDA margin 25.0% (Q3 2023: 24.8%)
- 9M 2024 adjusted EBITDA margin 24.0% (9M 2023: 24.9%)
- 2024 and mid-term guidance confirmed
1 Constant resin growth excludes the impact of movements in the resin price in the bag-in-box and spouted pouch businesses. Any movement in resin costs is directly passed on to customers.
2 In Q3 2024, the resin escalator added approximately 50 bps to Group revenue growth.
3 For 9M 2024, the resin escalator added approximately 20 bps to Group revenue growth.
Samuel Sigrist, CEO, said: “We are pleased to report an increase in revenue of 5.1%, at constant currency, for Q3 2024, or 4.6% at constant currency and resin. This demonstrates the resilience embedded in our business through our global footprint with exposure to high growth emerging markets, the strength of our product categories and our ability to drive expansion through our differentiated technology. SIG remains well positioned to outpace market growth.
The bag-in-box operations experienced a notable improvement in revenue performance during the third quarter, and we anticipate further progress in the final quarter of the year. Capacity constraints at our facilities in the US are easing as we address the production challenges.”