ATS
The construction chemist Sika recorded a sharp increase in its turnover in 2022, exceeding the 10 billion mark for the first time.
The Zug group also plans to make a “record” operating profit (Ebit) for the past year, he said on Wednesday.
“In an extremely difficult environment, Sika has achieved an impressive result (…) thanks in particular to a large portfolio and our ability to innovate”, remarked the general manager Thomas Hasler, quoted in the press release.
Receipts amounted to 10.49 billion francs, an increase of 13.4%. Excluding currency effects, growth was 15.8%. Currencies had a negative impact of 2.4% while acquisitions contributed 2.5%.
This result is somewhat lower than the AWP consensus. Analysts surveyed on average expected sales of 10.61 billion.
The conglomerate with 27,500 employees was able to impose an increase in the prices of its products, notwithstanding the slowdown in the construction sector observed over the last six months of the year in an environment marked by inflation and the rise in interest rate.
In addition, all regions contributed to the annual performance. Europe, the Middle East and Africa (EMEA) grew 8.3% in local currencies, the Americas jumped 27.5% and Asia-Pacific gained 14.8%.
The finalization of the acquisition of MBCC is for its part expected before the end of the first half.
Sika expects to record a record Ebit for the current financial year. The related margin should be 15%.
The multinational has also confirmed its objectives for 2023. The improvement in annual sales is expected between 6 and 8% and the Ebit margin in a range of 15 to 18%.
Detailed results will be released on February 17.
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