Chemical company achieves sales record

by Ofentse Sefolo
Chemical company achieves sales record

In the 2019 business year, Sika recorded double-digit growth and achieved a new sales record of CHF 8.11 billion. “With strong sales growth of 16.3%, we exceeded our sales target for fiscal 2019 with a sales figure of CHF 8.11 billion,” says Paul Schuler, Chief Executive Officer.

Last year, the integration of Parex was driven forward, with fully integrated management structures already established in 20 countries in which Parex is present. Existing synergy potential is being exploited through combined business and procurement activities and thanks to the successful integration, the forecasted synergies of CHF 80‐100 million will fall in the higher end of this bandwidth. More than 100 shared projects have already been initiated through cross‐selling activities alone.

Growth in all regions
In a challenging market environment, Sika’s growth in all regions was stronger than the market. A sales increase in local currency of 11.5% was reported in the EMEA region (Europe, Middle East and Africa) in 2019, with the company recording double‐digit growth rates in Africa and high single‐digit growth in Eastern Europe.

By investing in seven new factories and five acquisitions, the Group has laid the foundation for continued growth.

For more information, contact Sika on +27 (31) 792 6500 or via www.sika.co.za.

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