Annual Report 2024

27. Group entities

Overview of Group entities

The following table provides an overview of all the Group’s subsidiaries and joint venture. The ownership interests are the same as of December 31, 2024 and December 31, 2023, unless specifically stated. The ownership and voting interests are the same for all Group entities. The Group owns 100% of the shares and the reporting date of the entities is December 31, unless specifically stated. The joint venture does not have any subsidiaries.

Overview of Group entities

 

 

As of December 31, 2024

Companies and countries

 

Share capital1

 

Interest

Parent company

 

 

 

 

 

 

Switzerland

 

 

 

 

 

 

SIG Group AG, Neuhausen am Rheinfall2

 

3,822,709

 

CHF

 

100%

Subsidiaries

 

 

 

 

 

 

Algeria

 

 

 

 

 

 

EURL SIG Combibloc Algeria, Algiers

 

1,500,000

 

DZD

 

100%

Argentina

 

 

 

 

 

 

Combibloc S.R.L., Buenos Aires3

 

6,765,005,520

 

ARS

 

100%

Australia

 

 

 

 

 

 

Scholle IPN Pty Ltd., Edinburgh North

 

2

 

AUD

 

100%

SIG Australia Holding Pty Ltd., Canberra

 

32,100,000

 

AUD

 

100%

SIG Combibloc Australia Pty Ltd., Broadmeadows Moonee Ponds

 

40,000,001

 

AUD

 

100%

Austria

 

 

 

 

 

 

SIG Austria Holding GmbH, Saalfelden

 

1,000,000

 

EUR

 

100%

SIG Combibloc GmbH, Saalfelden

 

35,000

 

EUR

 

100%

SIG Combibloc GmbH & Co. KG, Saalfelden

 

4,500,000

 

EUR

 

100%

Bangladesh

 

 

 

 

 

 

SIG Combibloc Bangladesh Ltd., Dhaka

 

50,000,000

 

BDT

 

100%

Brazil

 

 

 

 

 

 

Scholle Ltda., Vinhedo

 

86,258,020

 

BRL

 

100%

SIG Beverages Brasil Ltda., São Paulo

 

109,327,434

 

BRL

 

100%

SIG Combibloc do Brasil Ltda., São Paulo

 

722,386,462

 

BRL

 

100%

Canada

 

 

 

 

 

 

Scholle IPN Canada Ltd., Québec

 

1,000

 

CAD

 

100%

Chile

 

 

 

 

 

 

Scholle IPN SpA, Santiago

 

9,006,501,235

 

CLP

 

100%

SIG Combibloc Chile SpA, Santiago

 

5,016,722,134

 

CLP

 

100%

China

 

 

 

 

 

 

Scholle IPN Packaging (Suzhou) Co. Ltd., Suzhou

 

15,400,000

 

USD

 

100%

SIG Combibloc (Suzhou) Co. Ltd., Suzhou

 

283,000,000

 

USD

 

100%

SIG Combibloc (Suzhou) Technology Co. Ltd., Suzhou

 

3,800,000

 

USD

 

100%

SIG Packaging (Shanghai) Co., Ltd., Shanghai

 

98,374,102

 

CNY

 

100%

Czechia

 

 

 

 

 

 

SIG Combibloc s.r.o., Hradec Králové

 

200,000

 

CZK

 

100%

Egypt

 

 

 

 

 

 

SIG Combibloc Egypt LLC, Cairo

 

10,000

 

EGP

 

100%

France

 

 

 

 

 

 

SIG Combibloc S.à.r.l., Courbevoie

 

31,000

 

EUR

 

100%

Germany

 

 

 

 

 

 

Scholle IPN Germany GmbH, Eisfeld

 

25,000

 

EUR

 

100%

SIG Combibloc GmbH, Linnich

 

34,494,382

 

EUR

 

100%

SIG Combibloc Systems GmbH, Linnich

 

1,000,000

 

EUR

 

100%

SIG Combibloc Zerspanungstechnik GmbH, Alsdorf

 

256,000

 

EUR

 

100%

SIG Euro Holding GmbH, Linnich

 

10,000,000

 

EUR

 

100%

SIG Information Technology GmbH, Linnich

 

500,000

 

EUR

 

100%

SIG International Services GmbH, Linnich

 

1,000,000

 

EUR

 

100%

India

 

 

 

 

 

 

Bossar Packaging Private Ltd., Pune4,5,6

 

17,649,000

 

INR

 

99.7%

Scholle IPN India Packaging Private Ltd., Palghar4,7

 

15,290,240

 

INR

 

100%

Scholle Packaging (India) Private Ltd., Palghar4

 

155,254,700

 

INR

 

100%

SIG Combibloc India Private Ltd., Gurgaon, Haryana4

 

964,721,600

 

INR

 

100%

Indonesia

 

 

 

 

 

 

P.T. SIG Combibloc Indonesia, Jakarta Selatan

 

13,549,682,000

 

IDR

 

100%

Italy

 

 

 

 

 

 

SIG Combibloc S.r.l., Parma

 

101,400

 

EUR

 

100%

Luxembourg

 

 

 

 

 

 

SIG Combibloc Holdings S.à r.l., Munsbach

 

2,000,001

 

EUR

 

100%

SIG Combibloc PurchaseCo S.à r.l., Munsbach

 

4,012,500

 

EUR

 

100%

Malaysia

 

 

 

 

 

 

Scholle IPN Packaging (SEA) SDN. BHD, Kuala Lumpur

 

445,500

 

MYR

 

100%

SIG Combibloc Malaysia SDN. BHD, Kuala Lumpur

 

1,000,000

 

MYR

 

100%

Mexico

 

 

 

 

 

 

SIG Combibloc Manufacturing México, S. de R.L. de C.V., Queretaro

 

142,010,000

 

MXN

 

100%

SIG Combibloc México, S.A. de C.V., Mexico City

 

1,000,000

 

MXN

 

100%

Netherlands

 

 

 

 

 

 

Clean Flexible Packaging B.V., Tilburg

 

2

 

EUR

 

100%

Clean Flexible Packaging Holding B.V., Tilburg

 

2

 

EUR

 

100%

Scholle IPN Europe B.V., Tilburg

 

20,000

 

EUR

 

100%

Scholle IPN Europe Holding B.V., Tilburg

 

18,000

 

EUR

 

100%

Scholle IPN Holding B.V., Tilburg

 

20,220

 

EUR

 

100%

Scholle IPN IP B.V., Tilburg

 

18,000

 

EUR

 

100%

Scholle IPN Netherlands B.V., Tilburg

 

18,000

 

EUR

 

100%

SIG Combibloc B.V., Tilburg

 

40,000

 

EUR

 

100%

New Zealand

 

 

 

 

 

 

Scholle IPN New Zealand Ltd., Auckland

 

10

 

NZD

 

100%

SIG Combibloc New Zealand Ltd., Auckland

 

100

 

NZD

 

100%

Nigeria

 

 

 

 

 

 

SIG Combibloc Nigeria Ltd., Lagos

 

100,000,000

 

NGN

 

100%

Pakistan

 

 

 

 

 

 

SIG Combibloc Pakistan (SMC – Private) Ltd., Lahore

 

100,000

 

PKR

 

100%

Poland

 

 

 

 

 

 

SIG Combibloc Sp. z o.o., Warsaw

 

249,934

 

PLN

 

100%

Romania

 

 

 

 

 

 

SIG Combibloc Services S.R.L., Cluj

 

1,000,000

 

RON

 

100%

Russia

 

 

 

 

 

 

OOO SIG Combibloc, Moscow

 

5,000,000

 

RUB

 

100%

Scholle IPN Eastern Europe LLC, Voronezh4

 

221,331,321

 

RUB

 

99.9%

Saudi Arabia

 

 

 

 

 

 

Al Obeikan SIG Combibloc Company Ltd., Riyadh

 

75,000,000

 

SAR

 

100%

Serbia

 

 

 

 

 

 

SIG South East Europe d.o.o. Beograd, Beograd

 

939,200

 

RSD

 

100%

Singapore

 

 

 

 

 

 

SIG Combibloc Singapore Private Ltd., Singapore

 

1,000

 

SGD

 

100%

South Africa

 

 

 

 

 

 

SIG Combibloc (South Africa) Pty. Ltd., Cape Town

 

1,000

 

ZAR

 

100%

South Korea

 

 

 

 

 

 

SIG Combibloc Korea Ltd., Seoul

 

260,000,000

 

KRW

 

100%

SIG Packaging Korea Ltd., Seoul

 

899,480,000

 

KRW

 

100%

Spain

 

 

 

 

 

 

Bossar Packaging S.L.U., Barbera del Valles

 

1,248,000

 

EUR

 

100%

SIG Combibloc S.A.U., Madrid

 

330,550

 

EUR

 

100%

Sweden

 

 

 

 

 

 

SIG Combibloc AB, Eslöv

 

100,000

 

SEK

 

100%

Switzerland

 

 

 

 

 

 

SIG allCap AG, Neuhausen am Rheinfall

 

7,000,000

 

CHF

 

100%

SIG InnoVentures AG, Neuhausen am Rheinfall8

 

1,000,000

 

CHF

 

100%

SIG Procurement AG, Neuhausen am Rheinfall

 

2,000,000

 

CHF

 

100%

SIG Receivables Management AG, Neuhausen am Rheinfall

 

1,000,000

 

CHF

 

100%

SIG Services AG, Neuhausen am Rheinfall

 

37,931,400

 

CHF

 

100%

SIG Schweizerische Industrie-Gesellschaft GmbH, Neuhausen am Rheinfall

 

20,000

 

CHF

 

100%

Taiwan

 

 

 

 

 

 

SIG Combibloc Taiwan Ltd., Taipei

 

15,000,000

 

TWD

 

100%

SIG Packaging (Taiwan) Co., Ltd., Hsinchu Hsien

 

1,000,000

 

TWD

 

100%

Thailand

 

 

 

 

 

 

SIG Combibloc Ltd., Rayong

 

3,070,693,000

 

THB

 

100%

Turkey

 

 

 

 

 

 

SIG Combibloc Paketleme ve Ticaret Ltd. Şirketi, Istanbul3

 

170,000

 

TRY

 

100%

United Kingdom

 

 

 

 

 

 

Scholle IPN UK Ltd., Gateshead

 

1

 

GBP

 

100%

SIG Combibloc Ltd., Gateshead

 

250,000

 

GBP

 

100%

UAE

 

 

 

 

 

 

SIG Combibloc FZCO, Dubai

 

24,000,000

 

AED

 

100%

SIG Packaging Materials Trading LLC, Dubai9

 

10,000

 

AED

 

100%

USA

 

 

 

 

 

 

Clean Flexible Packaging Inc., Northlake

 

20

 

 

 

–

Scholle IPN Atlanta Corporation, Peachtree City

 

0

 

USD

 

100%

SIG Combibloc Inc., Northlake

 

27,000,000

 

USD

 

100%

SIG Combibloc US Acquisition Inc., Northlake

 

10

 

USD

 

100%

SIG Combibloc US Acquisition II Inc., Northlake

 

10

 

USD

 

100%

SIG Holding USA, LLC, Northlake

 

1,000

 

USD

 

100%

SIG Packaging LLC, Northlake10

 

10,000

 

USD

 

100%

SIG US LLC, Northlake11

 

10,000

 

USD

 

100%

Vietnam

 

 

 

 

 

 

SIG Vietnam Ltd., Ho Chi Minh City

 

2,000,000,000

 

VND

 

100%

Joint venture

 

 

 

 

 

 

Japan

 

 

 

 

 

 

DNP • SIG Combibloc Co. Ltd., Tokyo

 

75000000

 

JPY

 

50%

1

Unaudited.

2

The registered address of SIG Group AG is Laufengasse 18, 8212 Neuhausen am Rheinfall, Switzerland.

3

Argentina and Turkey are regarded as hyperinflationary as of December 31, 2024 and 2023. The impacts of applying hyperinflationary accounting as per IAS 29 Financial Reporting in Hyperinflationary Economies are not material to the Group.

4

The reporting date is March 31. Financial information prepared as of December 31 is used for consolidation purposes.

5

The non-controlling interests are not significant, which is why the Group does not make a distinction between profit, total comprehensive income and equity attributable to the owners of the Company and the non-controlling interests.

6

In the acquisition of Scholle IPN in 2022, the Group initially only acquired 84.71% of the shares of Bossar Packaging Private Ltd. It acquired 14.99% of the shares for an insignificant amount in the second quarter of 2024.

7

In the acquisition of Scholle IPN in 2022, the Group initially only acquired 90% of the shares of Scholle IPN India Packaging Private Ltd. It acquired the remaining 10% of the shares for €3.3 million in the first quarter of 2023. The purchase of the Indian noncontrolling interest is presented as a reduction of retained earnings in the statement of changes in equity.

8

SIG InnoVentures AG invests in early-stage companies to support the development of future packaging solutions. The investments are not significant. They are presented as part of other non-current assets (see note 21) and measured at fair value. The investments are categorized as Level 3 fair value measurements in the fair value hierarchy.

9

New entity, incorporated in the first quarter of 2024.

10

Previously Scholle IPN Packaging Inc. The name was changed to SIG Packaging LLC in the third quarter of 2024.

11

Previously Scholle IPN Corporation. The name was changed to SIG US LLC in the third quarter of 2024.

Joint venture in Japan

The Group has a small investment in a joint venture in Japan (DNP • SIG Combibloc Co. Ltd). It is accounted for using the equity method.

The Japanese joint venture was formed in 2018 with the joint venture partner DNP and provides aseptic carton packaging solutions in Japan. There have been no significant transactions with the joint venture in the years ended December 31, 2024 and December 31, 2023. Its net assets are also not significant.

Accounting policy/basis of consolidation

Subsidiaries

Subsidiaries are entities controlled by the Group. Control exists when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are consolidated from their respective acquisition date, which is the date on which the Group obtains control, until the Group loses control.

Intra-group transactions and balances

Intra-group transactions and balances are eliminated on consolidation.

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