- Core revenue up 5.5% at constant currency; up 1.7% as reported
- Adjusted EBITDA margin 27.4% (2019: 27.2%): slight increase despite currency headwind
- Adjusted net income up 7% at €232.3 million
- Strong free cash flow of €233.2 million after investments in fillers and new production plant
- Proposed dividend increased of over 10% to CHF 0.42 per share
SIG today published its 2020 Annual Report, which includes the Group’s operating and financial results accompanied by SIG’s audited consolidated and statutory annual financial statements, the Compensation Report outlining the compensation policies of the Group and the Corporate Governance Report. All publications are available from 07:00 CET today at reports.sig.biz/annual-report-2020. Hard copies can be ordered free of charge from SIG Combibloc Group AG, Laufengasse 18, 8212 Neuhausen am Rheinfall, Switzerland.
Said Samuel Sigrist, CEO of SIG Combibloc: “As we look back on the unprecedented events of 2020, we can be proud of what SIG has achieved. The early implementation of a global pandemic preparedness plan, starting in China, allowed our factories to keep running throughout the COVID-19 crisis. The commitment and dedication of employees throughout the year enabled us to continue serving our customers, helping them to deliver essential nutrition to consumers.
The year was proof of the robustness of our business model and the resilience of our end markets. Core revenue growth of 5.5% at constant currency illustrates the portfolio effect created by our deliberate geographic diversification of the business over many years. We continued to win new business and to expand our global footprint with the construction of a new plant in China, which is now in operation. We also announced the planned acquisition of the remaining 50% of our Middle East & Africa joint venture. This transaction will expand our presence in growth markets and enable us to fully consolidate a business with an attractive financial profile.
Through the favourable environmental footprint of our packs, we are already helping our customers to meet the growing societal demand for environmental stewardship. It is our mission to create food packaging that gives back to the people and the planet by centring our sustainability programme on four positive, far-reaching actions: Forest Positive, Climate Positive, Resource Positive and Food Positive. This means planting trees to expand forests; taking carbon from the atmosphere; creating resources for future generations; and ensuring nutrition comes safely to ever more people. We believe this programme will further enhance the value of our offering to customers while bringing us closer to realising our vision of a net positive food packaging system.
Our track record on sustainability is evidenced by our Platinum rating from EcoVadis, which puts us in the top 1% of companies evaluated.”