Sika confirms record EBIT for 2022

Sika confirms record EBIT for 2022
21 February 2023

Sika has reported a record-high operating profit (EBIT) for 2022, coming in at CHF1579.7m (US$1709m), up 13.5 per cent YoY. The EBIT margin for 2022 stands at 15.1 per cent, compared to 15 per cent in the previous year. The company had already released its 2022 results in January this year, which saw sales exceed CHF10bn for the first time, but had predicted a record EBIT and an EBIT margin of 15 per cent, both of which have been now been confirmed.

According to the company, at its AGM on 28 March 2023, the Board of Directors will propose to increase the gross dividend by 10.3 per cent to CHF3.20 (previous year: CHF2.90) given the record high earnings of 2022. This is aligned with the group profit increase of approximately 10 per cent.
For 2023, Sika is confident that it can successfully continue its strategy built on sustainable and profitable growth even in a challenging economic environment. “Thanks to its innovative technologies, Sika is the partner of choice for many customers in the construction and industrial sectors. In addition, the global construction industry is being shaped by the megatrend of climate change as well as by increasing automation, digitalisation, and easy-to-apply products. With its broad product portfolio, Sika is well positioned to offer its customers solutions that allow them to reduce their carbon footprint while facilitating long-lasting, resource-saving construction. On top of this, Sika is benefiting from global, state-driven economic programs supporting infrastructure expansion and investments in climate protection,” said the company.
For FY23, Sika expects sales to rise by 6-8 per cent in local currencies and anticipates an over-proportional increase in EBIT (excluding the impact of the acquisition of MBCC, which is now in the final stages and expected to complete in the 1H23).

Published under Cement News