SIG Group rises on Q1 earnings beat

Vontobel Holding AG

04/05/2023 09:32

** Share in SIG Group  SIGNC.S  rise 3% after the Swiss
packaging company reported Q1 earnings above expectations
    ** The company reported Q1 revenue of EUR 729 mln (up 44.5%
YoY) and Q1 adjusted EBITDA of EUR 175 mln (up 23.9% YoY), both
in line with Vontobel's estimates
    ** "Small positive following recent strong performance,"
Credit Suisse says, adding that adjusted EBITDA was 6.7% above
consensus
    ** CS says larger M&A contribution and improved pricing
helped the company beat earnngs expectations
    ** Vontobel says the results demonstrated the ongoing strong
top-line growth momentum and accelerated pricing
    ** The stock is on the track for the best day since August
2022
    ** SIG Group is the top performer of the Swiss midcaps index
 .SMIM 

 (Reporting by Amir Orusov)
 ((Amir.orusov@thomsonreuters.com))