SIG raises 2026 EBIT margin outlook to 16.0–16.5% after third-quarter revenue growth of 7.2%
Key Facts
SIG Group AG raised its adjusted EBIT margin outlook for fiscal 2026 on October 27 to 16.0–16.5%, from 15.7–16.2% previously, after recording revenue growth and improved profitability in the third quarter. The group kept its revenue growth outlook at 0–2% at constant currency and resin prices. Chief Executive Anne Erkens said third-quarter performance gave the company confidence to raise its full-year margin outlook. The update changes the profitability outlook, while the targeted revenue growth range remains unchanged. The figures relate to SIG Group AG, the company that issued the results and guidance.
Third-quarter revenue rose 7.2% at constant currency compared with the same period in 2025, and growth was 6.5% at constant currency and resin prices. Adjusted EBIT margin reached 17.4%, versus 14.8% in the third quarter of last year after excluding non-recurring items from the comparison. The figures show margin expansion alongside sales growth during the quarter. Erkens said strong quarterly performance, steady revenue growth and improvements in profitability and cash flow, together with better operating efficiency, supported the decision to raise the margin outlook. Management described the quarter as "strong performance that gave us confidence to raise our full-year adjusted EBIT margin guidance."
In the first nine months of 2026, revenue increased 3.0% at constant currency compared with the same period in 2025, and rose 2.5% at constant currency and resin prices. Adjusted EBIT margin for the period was 16.3%, compared with 14.8% in the first nine months of 2025 after excluding non-recurring items. Third-quarter revenue growth exceeded the pace for the year-to-date period, reaching 7.2% on a constant-currency basis during the quarter. The quarter's 17.4% margin was also above the average margin recorded in the first nine months. The comparison between the periods puts third-quarter results in the context of improved performance through the end of September.
SIG had reaffirmed its previous full-year guidance when it reported first-half results on July 28, 2026. Revenue then grew 0.8% at constant currency in the first half compared with the first half of 2025. Adjusted EBIT margin was 15.6%, versus 14.8% a year earlier. The margin range increase follows that announcement, while the annual revenue growth outlook remains at 0–2% at constant currency and resin prices. The sequence of updates reflects the company's move from reaffirming its outlook after the first half to raising its margin target following third-quarter performance.
At its Capital Markets Day on October 27, the company announced medium-term targets that include organic revenue growth of 3% to 5% and an adjusted EBIT margin above 18%. It set a target of above 20% for the aseptic carton segment margin. It also announced a simplified reporting structure with two core segments: aseptic cartons, and bag-in-box and spouted pouches. The company said the change in reporting segments will result in non-cash impairment losses of about 250 million euros in the fourth quarter of 2026. These targets and the organizational step form part of the roadmap the group presented that day.
The company said dividend resumption is planned for 2027, with a target payout ratio of 30% to 50% of adjusted net income. On results, SIG listed March 2, 2027, as the date for reporting fiscal 2026 results. That date will be a later milestone for presenting full-year performance, following the updated margin guidance and the revenue growth outlook the company left unchanged. The announced payout ratio remains a target linked to the 2027 resumption plan. The results announcement did not include data on the share price reaction to the guidance update.