SIG has introduced a plan aimed at generating profitable growth, strengthening operational performance and delivering improved returns for shareholders. The roadmap gives priority to the company’s core aseptic carton operation while tackling weaker results in bag-in-box and spouted pouch packaging.
Presented at the company’s Capital Markets Day on 27 October 2026, the strategy centres on three areas: deepening customer partnerships through technology and sustainability, raising productivity across manufacturing and supply chain operations, and creating a simpler organisation with faster decisions and clearer ownership.
The packaging group intends to become the preferred aseptic packaging partner for customers. It plans to use its international production footprint, innovation expertise and long-standing commercial relationships to pursue opportunities across global food and beverage markets, where food and beverage industry trends continue to favour convenience, functionality and resource efficiency.
A simpler structure for stronger execution
SIG will reorganise its activities into two reporting divisions: aseptic carton, and bag-in-box & spouted pouch.
This structure should give investors and stakeholders greater visibility while making management responsibilities more explicit. It is also designed to direct capital and operational resources towards the parts of the portfolio offering the strongest prospects for profitable expansion. SIG will use the revised structure for external segment reporting from its 2026 financial-year reporting onwards.
The change also acknowledges difficulties in several existing businesses. SIG expects to record a non-cash impairment charge of around €250 million in the fourth quarter of 2026. The charge will relate to its bag-in-box & spouted pouch and chilled carton operations.
The impairment reflects the reassessment of asset values following the new reporting structure. More broadly, SIG wants to operate with fewer layers and a clearer allocation of responsibility, supporting tighter execution and more selective investment decisions.
Aseptic cartons remain the main growth platform
Long-term demand for dairy and protein beverages, portable drinks and packaging with stronger environmental credentials is expected to support SIG’s aseptic carton business.
SIG estimates that the global aseptic carton market will expand by approximately 2–3% over the medium term. The group expects to grow ahead of that rate, drawing on a track record of outperforming the wider market during each major economic cycle since 2016.
Technology and product development will play an important role. SIG continues to expand the use of its SIG Neo filling platform, which combines fast filling rates with operational flexibility and reduced waste. Through SIG Terra, the company is developing packaging options designed to meet demand for improved sustainability, including full-barrier cartons that eliminate aluminium foil.
Standardised platforms and the wider deployment of DigitalOne should further improve equipment efficiency, data connectivity and customer support. These capabilities reflect wider food manufacturing trends, in which producers are seeking more flexible lines, better visibility and lower resource consumption.
SIG also sees potential to win additional share in established markets, move into higher-value food and beverage segments and create new applications. Its plan therefore combines expansion within existing categories with differentiated solutions that help customers respond to evolving product formats, food and drink consumer trends and packaging requirements.
Focused recovery for bag-in-box and spouted pouch
The company will also concentrate on improving the performance of its bag-in-box and spouted pouch division. A dedicated leadership team is expected to oversee the recovery programme, with priorities including growth in foodservice bag-in-box and aseptic spouted pouch applications, alongside a return to sustainable profitability.
The programme will cover portfolio rationalisation, a leaner organisation, more efficient production and supply chain activities, adjustments to the manufacturing footprint and stronger commercial controls.
SIG plans to give particular attention to differentiated aseptic system solutions. The company believes these offerings can improve its market position and support better margins in selected applications.
The division has a target adjusted EBIT margin of 8–10% as earnings recover towards previous levels. Excluding corporate allocations on a pro-forma basis, the target rises to 10–12%.
Successful delivery of the recovery plan would strengthen the entire group. It would allow SIG to raise overall profitability through improvements across its portfolio rather than depending exclusively on further growth in aseptic cartons.
Efficiency measures designed to expand margins
In addition to the initiatives assigned to each division, SIG will pursue group-wide savings through procurement, manufacturing excellence, higher productivity and a less complex operating model.
The company intends to review and optimise its production network. It also expects sales growth, a stronger mix of products and increased operating leverage to support financial performance. When volumes rise, operating leverage enables a larger share of incremental revenue to flow through to earnings because fixed costs are spread across a broader base.
These actions are intended to convert SIG’s technology, customer relationships and market reach into improved margins and cash generation. They also support a more disciplined approach to expenditure and investment, an important consideration as food processing technology and packaging innovation continue to develop.
Updated financial objectives and shareholder distributions
SIG has revised its medium-term financial objectives to align with its growth, margin and cash-generation ambitions.
The targets include organic revenue growth of 3–5% at constant exchange rates, a group adjusted EBIT margin above 18% and an adjusted EBIT margin above 20% for the aseptic carton division.
SIG also plans to propose reinstating its dividend in 2027 for the 2026 financial year, with a target payout of 30–50% of adjusted net income. Strong cash conversion and continued debt reduction are expected to provide support for the financial framework and a potential return to dividend payments.
Any dividend remains subject to formal proposal and approval. Future distributions will depend on SIG’s financial condition, distributable profits, investment needs and other applicable factors.
Converting market strength into profitable expansion
SIG’s roadmap links its position in aseptic packaging with a more streamlined and productive business model. The company aims to outpace its markets, restore performance in weaker operations and translate efficiency improvements into higher margins and stronger cash flow.
For food and beverage producers, the plan suggests continued SIG investment in filling systems, packaging development and digitally connected solutions, while placing greater emphasis on productivity and sustainability. Its focus on aseptic applications reflects the company’s view that manufacturers will continue seeking convenient products and packaging formats that use resources more efficiently. These priorities align with key food and drink industry innovation, food and drink sustainability and food and drink packaging developments.
Execution will determine the outcome. SIG must deliver the divisional recovery, secure market-share gains and achieve planned savings without reducing its capacity to innovate. Its progress will also be shaped by food and drink regulations, food distribution trends and the continuing evolution of food and drink marketing as customers and consumers place greater emphasis on convenience, transparency and environmental performance.