SIG has set out a roadmap to accelerate profitable growth, improve operational performance and increase shareholder returns, placing greater emphasis on its core aseptic carton business while addressing weaker performance in bag-in-box and spouted pouch packaging.

Announced at its Capital Markets Day on 27 October 2026, the strategy is built around three priorities: strengthening customer relationships through technology and sustainability, improving manufacturing and supply chain productivity, and simplifying the organisation to accelerate decision-making and accountability.

The packaging solutions provider aims to become the number one choice for customers in aseptic packaging, using its global manufacturing network, innovation capabilities and established customer relationships to capture growth opportunities in food and beverage markets.

Simplifying the business to sharpen execution

A central element of the roadmap is a new organisational structure comprising two reporting segments: aseptic carton and bag-in-box & spouted pouch.

The revised structure is intended to improve transparency, clarify accountability and help management focus resources on the areas with the greatest potential for profitable growth. It will form the basis of SIG’s external segment reporting from its financial year 2026 reporting onwards.

However, the restructuring also reflects challenges within the existing portfolio. SIG expects to recognise a non-cash impairment charge of approximately €250 million in the fourth quarter of 2026, relating to its bag-in-box & spouted pouch and chilled carton businesses.

The charge is linked to the change in segment reporting and signals a reassessment of the value attributed to parts of the business. SIG’s broader objective is to create a simpler operating structure that supports more disciplined execution and capital allocation.

Aseptic cartons provide the growth engine

SIG expects its aseptic carton business to benefit from long-term demand for dairy and protein-based drinks, convenient on-the-go products and more sustainable packaging solutions.

The company forecasts that the underlying aseptic carton market will grow by 2–3% over the medium term. It believes it can outperform that market, pointing to its record of growing faster than the sector through every macroeconomic cycle since 2016.

Innovation is central to this ambition. SIG is continuing to roll out its SIG Neo filling technology, which offers high filling speeds, flexibility and low waste. Its SIG Terra platform addresses demand for sustainable packaging, including full-barrier carton structures that do not use aluminium foil.

Platform standardisation and the expansion of DigitalOne are also intended to strengthen the efficiency and connectivity of its packaging solutions.

Beyond its established markets, SIG sees opportunities to gain market share, expand into value-added food and beverage categories and develop new applications. The approach combines growth in existing markets with the development of differentiated solutions that can help customers respond to changing product and packaging requirements.

Turning around bag-in-box and spouted pouch

Improving the performance of bag-in-box & spouted pouch is another major priority. SIG plans to establish a dedicated management team to implement a focused turnaround, targeting growth in food service bag-in-box and aseptic spouted pouch applications while restoring profitability.

Measures include portfolio optimisation, organisational simplification, improved manufacturing and supply chain efficiency, changes to the production footprint and tighter commercial discipline.

The company also intends to place greater emphasis on differentiated aseptic system solutions, where it sees opportunities to strengthen its competitive position and margins.

SIG is targeting an adjusted EBIT margin of 8–10% for the business as profitability moves towards historical levels. On a pro-forma basis excluding corporate allocations, the target is 10–12%.

The turnaround is important to the wider strategy because stronger performance across the portfolio would help SIG improve group profitability without relying solely on expansion in its core carton business.

Operational efficiency to lift margins

Alongside the business-specific measures, SIG plans to improve profitability across the group through procurement savings, manufacturing excellence, productivity improvements and operational simplification.

Optimising its production footprint is another part of the plan, while revenue growth, a more favourable product mix and greater operating leverage are expected to provide additional support.

Operating leverage is particularly relevant because it allows revenue growth to contribute more strongly to profitability when the business can spread its fixed costs across higher volumes.

Together, these initiatives are intended to turn SIG’s technology and market position into stronger financial performance, with greater discipline over costs and investment.

Financial targets and shareholder returns

SIG has updated its medium-term financial targets to reflect its growth and profitability ambitions.

The company is aiming for organic revenue growth of 3–5%, measured at constant currencies; an adjusted EBIT margin above 18% at group level; an adjusted EBIT margin above 20% for aseptic carton.

A dividend reinstatement in 2027, relating to the 2026 financial year, with a targeted payout ratio of 30–50% of adjusted net income. Strong cash conversion and continued deleveraging are expected to support the financial plan and the proposed return to dividends.

The dividend remains a planned proposal rather than a guaranteed payment, with any future distribution dependent on SIG’s financial position, available profits, investment requirements and other relevant considerations.

From market position to profitable growth

SIG’s roadmap is designed to connect its competitive strengths in aseptic packaging with a more focused and efficient operating model. The company is seeking to grow faster than its markets, improve returns from underperforming businesses and convert operational improvements into higher margins and stronger cash generation.

For food and drink manufacturers, the strategy points to continued investment in filling technology, packaging innovation and connected solutions, alongside a sharper focus on efficiency and sustainability. The emphasis on aseptic applications also highlights where SIG sees opportunities to develop its offering as producers respond to demand for convenient products and packaging with improved resource efficiency.

The challenge will be delivering the targeted turnaround, capturing market-share gains and achieving cost savings while maintaining investment in innovation.