Core Insights - SIG reported a net loss of €87 million ($101.2 million) in 2025, a significant decline from a profit of €194.5 million in the previous year, primarily due to €351 million in non-recurring charges related to a strategic review and challenging market conditions [1] - Adjusted net income fell by 25% year-on-year to €231.1 million, with a net profit of €208.3 million when excluding non-recurring charges [2] - Total revenue for SIG was €3.25 billion, reflecting a 0.4% growth at constant currency but a 2.4% decline on a reported basis [3] Revenue Breakdown - Revenue in Europe decreased by 0.8% on a constant currency basis, attributed to raw milk shortages for aseptic processing [3] - Revenue growth in the IMEA region was 0.4%, while the Asia Pacific saw a decline of 1.7% due to market softness and competition [4] - The Americas market experienced a revenue increase of 4.4%, driven by higher sales of liquid dairy products in Mexico and price adjustments in Brazil [4] Business Segment Performance - Carton business revenue fell to $2.69 billion from $2.75 billion, and revenue from bag-in-box and spouted pouch lines declined to $551 million from $579.6 million [5] - Fourth-quarter net income decreased to $43.8 million from $64.4 million in the prior year, with Q4 revenue at $901.2 million compared to $930.7 million in the same quarter last year [5] Strategic Actions - The company has decided to suspend dividend payments for the fiscal year ending December 31, 2025, in response to the challenging economic environment [5] - SIG's CFO highlighted the need for a strategic focus to improve business performance, emphasizing portfolio optimization, operational improvement, and capital discipline [6]