SIG Group rises after in-line FY results

SIG AG

27/02/2024 08:35

** Shares in SIG Group  SIGNC.S  are up around 5% after the
Swiss packaging company reported full-year results in line with
expectations and proposed a higher dividend 
    ** Total revenue rose 18.5% at constant currency; adjusted
EBITDA margin increased to 24.9% compared with 23.5% in 2022
    ** Analysts at Vontobel note that the results were "broadly
in line" with expectations thanks to a strong fourth quarter
        ** "SIG's results were in line with volumes in the dairy
market down in 4Q, as reported by some customers in the last
weeks already," they write in a note, adding that SIG still
managed to protect its margins thanks to price hikes
  
        ** The company proposed a dividend of CHF 0.48 compared
with CHF 0.47 a year ago
  
    ** Excluding Tuesday's rise the stock has dropped by 9.8%
YTD; if gains hold, it will see its best day in a year
    

 (Reporting by Mateusz Dobrzyniewski)
 ((Mateusz.dobrzyniewski@thomsonreuters.com))