SIG reports on 1HY business
Date 07.30.2019 | Category: News
In the first half of 2019, SIG Combibloc Group increased sales by 6.9% to € 794.5 million, an increase of 5.1% in real terms. At € 80.5 million, adjusted net income was significantly higher than in the same period last year (€ 48.4 million).
SIG generated sales of € 358.2 million (+ 0.4%) in the EMEA region, € 284.1 million (+ 11.9%) in APAC and € 144.5 million (+ 12.1%) in the Americas.
In the first half of 2019, we saw good top line growth driven in particular by the growth markets in Asia Pacific and the Americas, which have been the focus of our investment in recent years. Core revenue growth at constant currency of 5.1% is within our target range for the full year of 4-6%. Profitability improved in the second quarter and the H1 adjusted EBITDA margin was only slightly below the H1 2018 level, despite a reduction in the dividend from our Middle East joint venture.“
Growth in the Asia-Pacific region was driven primarily by rising demand for dairy products, which in many Southeast Asian countries was also boosted by rising consumption of non-carbonated soft drinks. In order to meet the growing demand for packaging, SIG will build a new factory in the Suzhou Industrial Park in China near the existing plant.Source: SIGAuthor: Sossna