SIG posts strong performance in growth markets
Aseptic carton packaging giant has recorded strong performance in growth markets in Q3 2019.
Core revenue was up 6.5% year-on-year at constant exchange rates and adjusted EBITDA was up 9.8% year-on-year.
Significantly, adjusted net income more than doubled to €53.8m, compared to €26.4m in Q3 2018.
SIG said growth was good in all regions in the third quarter.
The company’s Middle Eastern division – SIG Combibloc Obeikan – has been significantly growing market share in the MEA region.
“The improvement in EMEA compared with the first half reflected a business upturn in markets in the Middle East and Africa. Demand for dairy products remained robust in APAC and sales benefited from the ramp-up of recent filler placements,” read a company statement.
Additionally, the company said double digit growth in the Americas compared with a relatively weak third quarter in 2018 and was driven primarily by the United States and Mexico.
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