Sig Group Ag · SIX:SIGN
Sig — Q3 2024 Earnings Presentation
17 slides from Sig's earnings presentation, Oct 29, 2024
Slide 1: Q3 2024 trading update
Q3 2024 trading update SIG Group AG Samuel Sigrist, CEO Anne Erkens, CFO October 29, 2024
Slide 2: Disclaimer and cautionary statement
Disclaimer and cautionary statement The information contained in this presentation is not for use within any Neither SIG nor any of its directors, officers, employees, agents, affiliates or These alternative non-IFRS measures are presented as we believe that they country or jurisdiction or by any pe
Slide 3: Q3 2024 overview
Q3 2024 overview Samuel Sigrist, CEO
Slide 4: Q3 2024 business summary
Q3 2024 business summary Continue to deliver above market growth Bag-in-box and Partnership with Q3 revenue Investments Governance spouted pouch WWF Switzerland growth recovery Strong growth in carton Foodservice demand not Indian aseptic sleeves 1st project in Mexico Board nominates Ola continues y
Slide 5: Q3 2024 financial summary
Q3 2024 financial summary Revenue growth driven by carton and improvement in bag-in-box and spouted pouch Revenue Adjusted EBITDA Adjusted net income Free cashflow €825 million +3.1% reported €206 million €77 million €78 million (Q3 2023: €198 m) (Q3 2023: €79 m) (Q3 2023: €133 m) +5.1% Adjusted EBI
Slide 6: Nine months 2024 financial summary
Nine months 2024 financial summary On track to meet full year 2024 guidance Revenue Adjusted EBITDA Adjusted net Free cashflow €2,398 million income +2.5% €575 €198 €1 reported million million million (9M 2023: €582 m) (9M 2023: €223 m) (9M 2023: €(80) m) +3.7% Adjusted EBITDA Net capex Net leverage
Slide 7: Q3 2024 regional summary: Europe and India, Middle East and Africa
Q3 2024 regional summary Europe and India, Middle East and Africa Europe • 9M revenue growth at constant currency and constant resin 6.6% (€ million) Q3 2024 9M 2024 • Volume growth driven by previous filler placements and increased milk supply for aseptic processing; growth expected to normalize in
Slide 8: Q3 2024 regional summary: Asia Pacific and Americas
Q3 2024 regional summary Asia Pacific and Americas Asia Pacific • 9M revenue growth at constant currency and constant resin 1.3% (€ million) Q3 2024 9M 2024 • High prior year comparison and subdued economic performance in Revenue 223 640 China Revenue growth (1.3)% 1.2% • The region continues to gai
Slide 9: Financials
Financials Anne Erkens, CFO
Slide 10: 9M Adjusted EBITDA
9M Adjusted EBITDA Top line and raw material benefits with investment in growth • Q3 margin of 25% ahead of H1 2024 of 23.5% € million • Negative FX impact driven by depreciation of the 24.9% 24.0% 1 1 Brazilian Real, Thai Baht and Chinese Renminbi against the Euro 26 Top line momentum continuing to
Slide 11: EBITDA reconciliation
EBITDA reconciliation Nine months Nine months • Gain from unrealized operating ended Sept. ended Sept. derivatives reflects favorable hedging € million 30, 2023 30, 2024 for raw materials vs. spot market EBITDA 587 599 development Unrealized (gain)/loss on operating derivatives (4) (13) • €19.1 mill
Slide 12: Net income reconciliation
Net income reconciliation Nine months Nine months ended Sept. ended Sept. € million 30, 2023 30, 2024 Profit for the period 137 130 Non-cash foreign exchange impact of non-functional currency loans and realized (1) 1 foreign exchange impact due to refinancing Amortization of transaction costs 3 2 Ne
Slide 13: Capital expenditure and free cash flow
Capital expenditure and free cash flow • Lower PP&E expenditure following significant Nine months Nine months ended ended investment period Capital expenditure (€ million or %) Sept. 30, 2023 Sept. 30, 2024 PP&E and intangible assets 130 90 • Earlier phasing of upfront cash this year vs. Filling lin
Slide 14: Leverage
Leverage Reflects cash flow seasonality • Net leverage improvement compared with same € million Sept. 30, 2023 Dec 31, 2023 Sept. 30, 2024 period 2023 Gross debt 2,817 2,458 2,676 • ~€70 million reduction in net debt Cash 346 281 274 • Net leverage target of around 2.5x by year-end 2024 Net debt 2,4
Slide 15: Guidance
Guidance Anne Erkens, CFO
Slide 16: 2024 guidance confirmed
2024 guidance confirmed • Resin escalator for bag-in- Revenue growth (constant currency) Around 4% +/- 50 bps box & spouted pouch not included in guidance • Guidance subject to end- 24-25% Adjusted EBITDA At lower end of range market conditions, input margin cost and forex volatility 26-28% Adjusted
Slide 17: Thank you!
Thank you! www.sig.biz