SIG Group AG: Resilient Revenue Growth Despite Market Challenges

SIG Group AG showcased steady financial performance during the first half of 2025, amidst challenging market conditions. Revenue grew by 2.6% at constant currency compared to H1 2024, with carton revenue increasing by 2.6%. However, the adjusted EBITDA margin slightly increased to 23.6% from 23.5% in the previous year. SIG predicts revenue growth at the lower half of its 3-5% range for the full year, and an adjusted EBITDA margin at the lower end of 24.5-25.5%.

Growth varied across regions. The Americas saw a strong 7.4% increase in constant currency revenue, while Europe experienced a slight decline. In the Asia Pacific, subdued performance in China was balanced by gains in other countries. The IMEA region grew significantly, with a 4.6% rise despite the 2024 high comparison base.

In terms of capital expenditures, SIG reported a decrease from €128.7m to €109.5m, and net leverage rose to 3.0x. Free cash flow was negatively impacted, totaling -€139.8m. Despite market volatility, SIG remains optimistic about improvements driven by new fillers and product innovations.