SIG Combibloc Group AG: Half Year Results

Date: 27.07.2021Source: SIG Combibloc

Sustained revenue growth and increased profitability

First half year 2021 highlights

  • Core revenue at constant currency up 15.3%; up 8.8% on a like-for-like basis
  • Middle East and Africa (MEA) business fully consolidated from end of February 2021
  • Robust second quarter performance following exceptional first quarter growth
  • Adjusted EBITDA margin 27.3% (H1 2020: 25.1%)
  • Adjusted net income up 38% to €109.6 million

Said Samuel Sigrist, CEO of SIG Combibloc: “In the first half of 2021, we sustained strong revenue growth against a tough base of comparison and in a context of ongoing uncertainty around COVID-19. Profitability increased and the business is proving resilient in an inflationary environment.

“2021 has brought a number of milestones in the expansion of our global presence. We acquired full control of our Middle East and Africa business at the end of February and the integration has proceeded very smoothly. Our new plant in Asia Pacific has been up and running since the beginning of the year and in April we announced the construction of a new plant in Mexico to serve North America.

“Sustainability continues to be top of mind for us and for our customers. It is at the heart of our carton packs, which are made largely of renewable materials and are fully recyclable. We continue to see customer launches involving a switch to carton from PET and the adoption of our formats with enhanced sustainability. Our focus on innovation goes hand-in-hand with our vision of a net positive food packaging system. It means that we will continue to enhance the value of our offering to customers while striving to deliver positive outcomes for both people and the planet.”

Interim financial statements for the first half of 2021 are available for download at sig.biz/investors/en/performance/historical-financial-statements.

David Cox / IDM

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