Switzerland's SIG Group Q1 reported revenue drops, margin improves; backs FY view

SIG AG

28/04/2026 06:16

Overview

Switzerland packaging supplier's Q1 revenue stable at constant currency, down 4.2% reported

Adjusted EBIT margin rose to 13.4% from 12.8% on production efficiencies, lower SG&A

Company maintains full-year guidance; restructuring program is progressing as planned

Outlook

SIG expects 2026 revenue growth at constant currency and resin of 0-2%

Company sees 2026 adjusted EBIT margin between 15.7% and 16.2%

SIG anticipates higher revenue growth and EBIT margin in H2 2026

Result Drivers

PRODUCTION EFFICIENCIES - Margin improvement attributed to production efficiencies, favorable raw material sourcing, and lower SG&A expenses

REGIONAL PERFORMANCE - APAC and IMEA saw aseptic carton revenue growth, while Americas and Europe faced declines, especially in bag-in-box and spouted pouch due to weak out-of-home dining

RESTRUCTURING PROGRAM - Ongoing restructuring program contributed to lower SG&A and is ramping up in H1 2026

Company press release: ID:nEQ2DKD50a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 714.30 mln
Q1 Adjusted Net Income
EUR 48.10 mln
Q1 Adjusted EBITDA
EUR 159.80 mln
Q1 Adjusted EBITDA Margin
22.40%
Q1 EBITDA
EUR 190.80 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the paper packaging peer group is "buy"

Wall Street's median 12-month price target for SIG Group AG is CHF13.70, about 24.5% above its April 27 closing price of CHF11.00

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 18 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)