Sika holds its own in a challenging environment
Sika hat das erste Quartal 2023 trotz der anspruchsvollen wirtschaftlichen Rahmenbedingungen mit einem leichten Wachstum abgeschlossen. Der Umsatz in Lokalwährungen und das organische Wachstum stiegen jeweils um 1.2%. In Schweizer Franken erzielte Sika einen Umsatz von CHF 2’325.9 Millionen. Im Vergleich zur starken Vorjahresperiode und wegen der Aufwertung des Schweizer Franken lag die Umsatzentwicklung in CHF bei -3.0%. Darin ist ein Währungseffekt von -4.2% enthalten. Die dynamischeren Märkte in den Regionen Americas und Asien/Pazifik kompensierten dabei die schwächere Entwicklung in Europa. Das Segment Global Business wuchs deutlich über dem Markt und erneut zweistellig. Sika konnte im ersten Quartal die Materialmarge substantiell anheben und verzeichnete damit einen wichtigen Schritt in Richtung Materialmargenerholung.
In the first quarter of 2023, construction activity in the regions developed weaker than in the same period of the previous year. The causes are higher inflation, interest rate increases and the war in Ukraine. This is countered in the construction sector by the megatrend of climate change, which has heralded a paradigm shift in the industry. Solutions for lower CO2 emissions and for conserving resources in construction are increasingly in demand. Demand for industrial solutions, especially in the automotive sector, has developed positively. Sika is ideally positioned with its technologies in both markets to offer solutions that reduce customers’ carbon footprint.
MBCC ACQUISITION ON THE TARGET STREET
The MBCC acquisition is on the home stretch. In the first quarter of 2023, Sika signed a purchase agreement with private equity firm Cinven for parts of the MBCC admixture business. In 2022 this MBCC admixture business generated sales of approximately CHF 920 million. The acquisition is expected to close in the first half of 2023. The acquisition of MBCC is significantly value-enhancing. Together with MBCC, Sika will further expand its growth platforms. Annual synergies of CHF 160-180 million are expected.
OUTLOOK FOR 2023
For the current businessyear Sika is confident that the strategy of sustainable and profit-oriented growth can be successfully continued even in a challenging economic environment. With innovative technologies Sika is the preferred partner of many customers in the construction and industrial sectors. These sectors are strongly influenced by the megatrend of climate change as well as by increasing automation, digitalisation and easy-to-apply products.
For the business year 2023 Sika expects sales growth in local currencies of 6-8% as well as a disproportionately high increase in EBIT (excluding the impact of the MBCC acquisition).