Sika reports 17% growth in 2021

Sika has recorded sales of CHF9.24bn in 2021 (EUR8.95bn), an YoY uptick of 17.1 per cent in local currencies and 17.3 per cent in CHF. The acquisition effect was two per cent and organic growth amounted to 15.1 per cent. Compared to 2019, the organic gain was 11.9 per cent. Despite lockdowns in a number of countries, Sika grew more strongly than the market in all regions in 2021 with a 16.1 per cent YoY growth in sales in the EMEA region (Europe, Middle East, Africa), 21 per cent growth in the Americas, and a 19.4 per cent uptick in sales in the Asia/Pacific. The distribution business also reported significant gains in all regions.

Seven acquisitions took place in 2021, including Kreps (Russia), DriTac (USA), BR Massa (Brazil), Hamatite (Japan), American Hydrotech (USA), Bexel (Mexico) and Landun (China). Production sites in Stockholm (Sweden) and Doha (Qatar) were expanded, and new production facilities in Jiaxing City (China) and Pune (India) were commissioned. A new national subsidiary was also established in Ghana. The signing of a takeover agreement with MBCC Group also took place in the final quarter of 2021, which is due to close in the 2H22.

“2021 was expected to be a challenging year and it proved to be a successful one for Sika. We are benefiting from a number of growth platforms and are in an ideal position to achieve long-term success,” said Thomas Hasler, CEO, Sika. “We have solutions in place for all the development stages of construction markets, and government supported investment programs running into the billions will provide further impetus for our business.” Sika is seeking to grow by 6-8 per cent each year in local currencies up to 2023. As of 2021, the company is aiming for a higher EBIT margin of 15-18 per cent. For the 2021 fiscal year, the company anticipates an over-proportional increase in EBIT and an EBIT margin of 15 per cent.