SIG Group jumps despite 2024 outlook downgrade

SIG AG

30/07/2024 08:50

** SIG Group  SIGNC.S  shares rise 6.1%, despite lowered
2024 outlook
    ** The company revised its annual guidance for adjusted
EBITDA margin from lower half of 25-26% to lower end of 24-25%,
with net capital expenditure for the year expected to be within
lower half of 7-9% of revenue
    ** "Prior to the release, there was discussion of an outlook
downgrade," Daniel Koenig from Mirabaud Securities, adding it is
only a minor deterioration of the outlook
    ** Q2 was better than expected and the mid-term growth
outlook is reiterated, Koenig added
    ** Share on track for a best day since 2023-02-28 , when it
closed 6.5 % higher.
    ** The stock is among top performers of the STOXX 600
 .STOXX 

 (Reporting by Anastasiia Kozlova and Amir Orusov)
 ((Anastasiia.Kozlova@thomsonreuters.com;
Amir.Orusov@thomsonreuters.com))