SIG Combibloc Group AG
- WKN: A2N5NU
- ISIN: CH0435377954
- Land: Switzerland
Nachricht vom 07.05.2019 | 07:00
SIG Combibloc Group AG: Continued growth momentum
EQS Group-News: SIG Combibloc Group AG / Key word(s): Quarter Results
7 May 2019
First quarter 2019 highlights
Revenue by region
In the first quarter of 2019, core revenue increased by 5.4% at constant currency, within the target range for the full year of 4 - 6%. Growth was driven in particular by Asia Pacific which, after a strong performance throughout 2018, continued to show good momentum for liquid dairy products across the region. Growth was also robust in the Americas, with business in Brazil benefiting from volume growth with key customers and from recent filler deployments. Sales in Europe increased reflecting new customer wins, more than offsetting a lower contribution from the Middle East joint venture within the EMEA region.
Adjusted EBITDA increased by 0.6% to EUR85.9 million. The adjusted EBITDA margin was 23.6% (Q1 2018: 24.7%), reflecting the impact of a lower dividend from the Middle East joint venture. The adjusted EBITDA margin is generally below the full year average in the first quarter, which is typically the quarter with the lowest sales level.
EBITDA increased by 20.2% to EUR88.3 million. The increase was largely due to an unrealised gain on derivatives compared with a loss in Q1 2018. For more detail see page 4.
Adjusted net income increased to EUR29.1million compared with EUR4.0 million in Q1 2018. The increase reflected an improvement in net income, which moved from a loss of EUR32.1 million in Q1 2018 to a profit of EUR4.7 million in Q1 2019. The improvement is a consequence of lower net finance expense following the reduction and re-financing of debt at the IPO.
SIG continues to implement its growth strategy and its 2019 guidance of core revenue growth of 4 - 6% at constant currency and an adjusted EBITDA margin of 27 - 28% is unchanged.
Jennifer Gough +41 52 674 6508
The information contained in this media release and in any link to our website indicated herein is not for use within any country or jurisdiction or by any persons where such use would constitute a violation of law. If this applies to you, you are not authorised to access or use any such information.
This media release may contain "forward-looking statements" that are based on our current expectations, assumptions, estimates and projections about us and our industry. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words "may", "will", "should", "continue", "believe", "anticipate", "expect", "estimate", "intend", "project", "plan", "will likely continue", "will likely result", or words or phrases with similar meaning. Undue reliance should not be placed on such statements because, by their nature, forward-looking statements involve risks and uncertainties, including, without limitation, economic, competitive, governmental and technological factors outside of the control of SIG Combibloc Group AG ("SIG", the "Company" or the "Group"), that may cause SIG's business, strategy or actual results to differ materially from the forward-looking statements (or from past results). For any factors that could cause actual results to differ materially from the forward-looking statements contained in this media release, please see our offering memorandum for the IPO. SIG undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise. It should further be noted that past performance is not a guide to future performance. Please also note that interim results are not necessarily indicative of the full-year results. Persons requiring advice should consult an independent adviser.
Some financial information in this media release has been rounded and, as a result, the figures shown as totals in this presentation may vary slightly from the exact arithmetic aggregation of the figures that precede them.
The attached information is not an offer to sell or a solicitation of an offer to purchase any security in the United States or elsewhere and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful. No securities may be offered or sold within the United States or to U.S. persons absent registration or an applicable exemption from registration requirements. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from any issuer of such securities and that will contain detailed information about us.
In this media release, we utilise certain non-IFRS performance measures, including core revenue, adjusted EBITDA, adjusted EBITDA margin and adjusted net income that in each case are not recognised under International Financial Reporting Standards ("IFRS"). These measures are presented as we believe that they and similar measures are widely used in the markets in which we operate as a means of evaluating a company's operating performance and financing structure. Our definition of and method of calculating the measures stated above may not be comparable to other similarly titled measures of other companies and are not measurements under IFRS, as issued by the IASB or other generally accepted accounting principles, are not measures of financial condition, liquidity or profitability and should not be considered as an alternative to profit from operations for the period or operating cash flows determined in accordance with IFRS, nor should they be considered as substitutes for the information contained in our consolidated financial statements. You are cautioned not to place undue reliance on any non-IFRS performance measures and ratios included in this media release. Refer to the section "Financial review" in the 2018 Annual Report for SIG's definitions of the above non-IFRS performance measures.
Document title: SIG Q1 2019 English
|Company:||SIG Combibloc Group AG|
|8212 Neuhausen am Rheinfall|
|Phone:||+41 52 674 61 11|
|Fax:||+41 52 674 65 56|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||807647|
|End of News||EQS Group News Service|
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