Sig Group Ag · SIX:SIGN
Sig — H1 2025 Earnings Presentation
23 slides from Sig's earnings presentation, Jul 29, 2025
Slide 1: H1 2025 financial results
H1 2025 financial results SIG Group AG Samuel Sigrist, CEO Anne Erkens, CFO July 29, 2025
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: H1 2025 overview
H1 2025 overview Samuel Sigrist, CEO
Slide 4: H1 2025 business summary
H1 2025 business summary Solid financial results in a challenging market environment Resilient top line SIG equipment in demand Market leading innovation Refinancing complete performance • H1 2025 carton growth • Expect 60-80 aseptic • First launch of alu-layer • Redemption of 2020 of 2.6%1 carton f
Slide 5: H1 2025 financial summary
H1 2025 financial summary Revenue Adjusted EBITDA Adjusted net Free cashflow €1,579 million income +0.3% €372 million €136 million €(140) reported million (H1 2024: €369 m) (H1 2024: €120 m) (H1 2024: €(77 m) +2.6% Adjusted EBITDA Adjusted diluted constant currency margin earnings per share +2.1% 23
Slide 6: Q2 2025 financial summary
Q2 2025 financial summary Revenue Adjusted EBITDA Adjusted net income Free cashflow €833 million -2.3% reported €206 million €92 million €(50) million (Q2 2024: €214 m) (Q2 2024: €80 m) (Q2 2024: €24 m) +1.6% Adjusted EBITDA constant currency margin +1.2% 24.7% constant currency & (Q2 2024: 25.1%) c
Slide 7: Regional summary: Europe
Regional summary Europe Growth normalizing after exceptional 2024 • H1 revenue growth at constant currency and constant resin (0.6%) • High prior year H1 comparison of over 6% growth € million H1 2024 H1 2025 Q2 2025 • Return to usual levels of milk availability for aseptic Revenue 517 514 262 proce
Slide 8: Regional summary: India, Middle East and Africa
Regional summary India, Middle East and Africa Solid growth despite strong prior year comp • H1 revenue growth at constant currency and constant resin 4.6% € million H1 2024 H1 2025 Q2 2025 • High prior year H1 comparison of 11% growth • Strong growth in GCC and North Africa driven by Revenue 221 22
Slide 9: Regional summary: Asia Pacific
Regional summary Asia Pacific Strong performance in rest of Asia • H1 revenue growth at constant currency and offsetting subdued market in China constant resin 0.9% • Market share gains in China aseptic carton driven by € million H1 2024 H1 2025 Q2 2025 size flexibility Revenue 416 414 225 • Bag-in-
Slide 10: Regional summary: Americas
Regional summary Americas Improved year on year revenue performance • H1 revenue increased by 5.5% at constant currency and constant resin • Strong carton growth in Latin America € million H1 2024 H1 2025 Q2 2025 • Expansion of Mexican sleeves plant given strong demand Revenue 419 423 218 • Good gro
Slide 11: Financials
Financials Anne Erkens, CFO
Slide 12: H1 2025 Adjusted EBITDA
H1 2025 Adjusted EBITDA Good top line drop through partially offset by SG&A • FX impact driven by appreciation of € million Euro in Q2 23.5% 23.6% 1 1 • Positive top line contribution reflects volume, favorable mix and price 34 5 0 • Favorable polymer result driven by -18 -2 hedging and tenders -17
Slide 13: Currency impact on financials
Currency impact on financials Split of revenue by currency H1 Q2 ~35% all other ~35% currencies Euro EUR/USD avg. 1.09 1.13 1.17 ~30% Impact of all currency movement vs. €: End of June US dollar Revenue (35) (32) absolute €M Considerations for FY 2025: Revenue growth • Assuming current spot rates, F
Slide 14: EBITDA reconciliation
EBITDA reconciliation Six months ended Six months ended June June € million 30, 2024 30, 2025 • Change in fair value of contingent EBITDA 394 363 consideration reflects full reversal of Unrealized (gain)/loss on operating derivatives (11) 3 contingent consideration provision based on 2025 outlook Re
Slide 15: Net income reconciliation
Net income reconciliation Six months Six months ended June ended June € million22 30, 2024 30, 2025 • Q1 2025 was the last quarter of PPA Profit for the period 85 91 amortization related to the Onex Non-cash foreign exchange impact of non-functional currency loans acquisition 1 (4) and realized fore
Slide 16: Capital expenditure and lease payments
Capital expenditure and lease payments Six months Six months ended ended June 30, June 30, € million 2024 2025 • PP&E and lease payments include investment in Indian and Mexican PP&E and intangible assets (net of sales) 61 50 production facilities Filling lines and other related equipment 106 87 • H
Slide 17: Free cash flow
Free cash flow Six months 12 months Six months ended ended ended June 30, Dec 31, June 30, • Net cash from operating activities reflects € million or % 2024 2024 2025 higher customer rebate payments in 2025 Net cash from operating activities 116 649 26 due to strong volume growth in 2024 Acquisition
Slide 18: Leverage and financing
Leverage and financing Leverage reflects cash flow seasonality € million Jun 30, 2024 Dec 31, 2024 Jun 30, 2025 • H1 net leverage reflects cash flow Gross debt 2,772 2,475 2,699 seasonality of the Group Cash (286) (303) (240) • Net leverage ratio improvement as of 30 Net debt 2,486 2,171 2,458 June
Slide 19: Guidance
Guidance Anne Erkens, CFO
Slide 20: 2025 financial guidance
2025 financial guidance Confirmed 3-5% Revenue growth Lower half of • Expect a similar market (constant currency and range environment as in 2024 constant resin) • Guidance subject to: Lower end of • input costs Adjusted EBITDA margin 24.5% - 25.5% range • forex volatility 26-28% Adjusted effective
Slide 21: Mid-term financial guidance
Mid-term financial guidance Confirmed 4-6% Revenue growth Upper half of range • Best-in-class margins (constant currency and constant resin) Strong cash generation 27% • Adjusted EBITDA margin Above • Attractive pay-out policy with progressive 7-9% Net CAPEX dividend growth (% revenue) Dividend payo
Slide 22: SIG Capital Markets Day
Save the date SIG Capital Markets Day Thursday, 2nd October 2025 Location: Zurich Time: 9:00 AM – 1 PM followed by lunch with senior management and specialists Including an introduction from Ola Rollén, SIG’s new Chair of the Board of Directors
Slide 23: Thank you!
Thank you! www.sig.biz