First quarter 2020 highlights
- Core revenue up 8.4% at constant currency; up 8.3% as reported
- Adjusted EBITDA margin 21.3% (Q1 2019: 23.6%): underlying improvement more than offset by negative currency impact
- Adjusted net income €12.9 million (Q1 2019: €29.1 million)
- Free cash flow significantly higher
- Full year guidance maintained at present in an uncertain environment
Key performance indicators: First quarter 2020
| Three months ended 31 March 2020 |
Three months ended 31 March 2019 |
Change | |||
| (In € million or %) | Reported currency |
Constant currency |
|||
| Core revenue | 389.6 | 359.7 | 8.3% | 8.4% | |
| Adjusted EBITDA | 83.7 | 85.9 | (2.6%) | ||
| Adjusted EBITDA margin | 21.3% | 23.6% | |||
| Adjusted net income | 12.9 | 29.1 | |||
| Free cash flow | 16.2 | (25.6) | |||
Reported measures: First quarter 2020
| Three months ended 31 March 2020 |
Three months ended 31 March 2019 |
Change | |||
| (In € million or %) | Reported currency |
Constant currency |
|||
| Total revenue | 392.9 | 363.7 | 8.0% | 8.2% | |
| EBITDA | 67.2 | 88.3 | (23.9%) | ||
| Net income | (25.5) | 4.7 | |||
| For additional information about alternative performance measures used by management that are not defined in IFRS, including definitions and reconciliations to measures defined in IFRS, refer to the link below: https://www.sig.biz/investors/en/performance/key-figures |
Said Rolf Stangl, CEO of SIG Combibloc: “Like all companies, we have faced unprecedented challenges due to the Covid-19 crisis. The health and safety of all employees has been – as ever – our priority throughout this period. We implemented a pandemic preparedness plan early on to protect our employees and prevent infections, with a coordinated network of global and regional task forces. Rigorous precautionary measures included enhanced hygiene standards, social distancing, strict travel restrictions and a ban on visitors at our sites. To ensure supply continuity, we built up safety inventories at all levels, from raw materials through to finished goods. As a result of the measures taken, all our factories continued production in the quarter without interruption. This enabled us to continue supporting our customers in delivering essential food and beverages to consumers. I should like to express my gratitude to all our employees – and particularly those working in our production plants – who have made this possible. ” For the full report visit sig.biz
