SIG Group AG

Overview Key strengths Key risks Strong market position as a manufacturer of aseptic cartons, bag-in-box packaging, and spouted pouches in broadly stable end markets. Limited product diversity. Diversified geographic footprint in terms of sales. Some input cost volatility. Longstanding relations with customers supported by technical expertise. Capital intensive industry. Strong profitability, with S&P Global Ratings-adjusted EBITDA margins averaging 25% in the past five years. In our view, volume growth will enable SIG Group AG to increase revenue to about €3.35 billion in 2024, up from €3.23 billion in 2023. We assume that average selling prices will remain stable. Volume growth will be driven by the ramp-up of new fillers installed in 2023, as well as a gradual recovery in demand

...We forecast modest revenue growth of 3%-4% in both 2024 and 2025. In our view, volume growth will enable SIG Group AG to increase revenue to about 3.35 billion in 2024, up from 3.23 billion in 2023. We assume that average selling prices will remain stable. Volume growth will be driven by the ramp-up of new fillers installed in 2023, as well as a gradual recovery in demand for aseptic cartons in Europe, North Africa, and the Middle East. We expect weak revenue growth in Asia and North America. In 2025, we forecast revenue of 3.47 billion,...

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