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Solid sales despite the global Pandemic

by Ofentse Sefolo
Solid sales despite the global Pandemic

Despite 2020 being a year that caused economic and human hardship, one company managed to post solid financial performance largely thanks to their strong market position and proactive measures.

Sika’s Chief Executive Officer, Paul Schuler comments, “The 2020 fiscal year was overshadowed by the global coronavirus pandemic, which had a number of serious repercussions for the construction and automotive sectors. Thanks to the strong motivation of our employees and their pronounced customer focus, Sika managed to perform successfully in this highly challenging market.”

Sika’s financial performance highlights for the year include:
• Sales increase of 3.4% in local currencies – 2020 sales at CHF 7.88 billion (–2.9% in CHF).
• Strong growth of 5.5% in the fourth quarter (organic: 4.1%).
• Completion of acquisition of Adeplast (Romania), takeover of Modern Waterproofing Group (Egypt), expansion of partnership with CiDRA Concrete Systems (United States).
• Establishment of new factories in Colombia and China, alongside factory expansions in the United Arab Emirates, France, and Switzerland.

Outlook
Despite the coronavirus crisis and its impact for operating results, Sika is confirming its 2023 strategic targets for sustainable, profitable growth. For the 2020 fiscal year, Sika is anticipating an over-proportional increase in EBIT and an EBIT margin of around 14%.

For more information, contact Sika South Africa:
Tel: +27 (31) 792 6500
Website: https://zaf.sika.com

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