Solid financial results in a challenging market environment

Samuel Sigrist, CEO, said: 

“As expected in the first half of the year market conditions remained subdued driven by lower consumer purchasing power. SIG’s revenue growth of 2.1%¹ in this environment demonstrates the resilience of its product categories, the strength of its market leading innovations and the effectiveness of its go-to-market strategy in driving share gains. Carton grew by 2.6%² while revenue performance for bag-in-box and spouted pouch was stable¹ year on year. This included good revenue growth in US foodservice, despite a soft market environment.

In the second half of the year, we continue to expect a sequential improvement in growth as recently placed fillers ramp up. Given the market environment, we expect full year revenue growth to be within the lower half of the 3-5% guidance range.

Year to date, SIG filling equipment remains in demand across all substrates. In bag-in-box and spouted pouch we continue to make good progress with synergy deals including good momentum in emerging markets, increasing share of aseptic technology and ensuring that all deals are structured as a systems solution. In aseptic carton we expect to place between 60 to 80 fillers for the year. A key driver of demand has been our ability to offer customers volume flexibility with associated price differentiation for the end consumer.”