Sika posts billions in profit
Sika was able to increase sales, operating profit and net profit to new record values in the 2021 financial year. Net income increased by 27 percent year-on-year to over CHF 1 billion. Further sales growth to more than 10 billion francs is expected for 2022.
According to a statement from Sika , the globally active Zug-based building materials group set a new sales record in the 2021 financial year. Specifically, sales increased by 17.5 percent year-on-year to CHF 9.25 billion. Operating profit at EBIT level increased by 23.1 percent to CHF 1.40 billion in the same period. The corresponding EBIT margin improved by 0.6 percentage points to 15.0 percent. In terms of net profit, Sika reported a record result of 1.05 billion francs, which corresponds to an increase of 27.1 percent compared to the same period of the previous year.
“Sika has created lasting value in a challenging year,” said CEO Thomas Hasler in the statement. “We will do everything we can to continue our strong growth in all regions.” For the current financial year, Sika is aiming for sales growth of more than 10 percent in local currencies to more than CHF 10 billion for the first time.
In the reporting year, Sika completed a total of seven acquisitions. The takeover of the MBCC Group, which was agreed in November 2021, is expected to be completed in the second half of 2022, Sika informs. The former construction chemicals business of the BASF Group with annual sales of 2.9 billion Swiss francs is to complement and expand Sika’s business “in four out of five core technologies and seven out of eight target markets,” according to the statement.
With its products, Sika is increasingly focusing on sustainability. The company sees itself “as an enabler that enables customers to use innovative products to reduce CO2 emissions, to build in a resource-saving manner and to make structures safer,” writes Sika. To this end, Sika offers a range of products that ranges “from additives for low-emission concrete to facade systems for energy-efficient buildings to adhesives for climate-friendly vehicles”. On September 30, Sika intends to communicate a “net zero roadmap” with new sustainability goals for its own company.