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Sika continues growth despite negative currency effects

Post Time:Jan 15,2009Classify:Company NewsView:378

Sika Group posted net sales in 2008 of just over CHF 4.6 billion. The growth rate in local currencies amounted to 7.3%, including an acquisition effect of 1.4%. The negative currency exchange effect was -6.2%. Net sales in Swiss francs are thereby 1.1% above the previous year.

Sika continued growth in all regions, calculated in local currencies. In the Region IMEA – India, Middle East, Africa – sales again grew most strongly at 30.0%, followed by Latin America with growth of 24.5%. In North America Sika achieved growth of 7.0%. Region Europe South yielded the lowest growth in local currencies at 0.9%.

Growth in the Construction Division was satisfactory in the reporting year despite effects felt throughout the Group in the fourth quarter from a regressive construction business cycle precipitated by the crisis in housing and subsequently that in finance. In the Industry Division, by contrast, sharply plummeting production figures in the fourth quarter in vehicle construction led to stagnating sales for the year overall.

Change in net sales compared with previous year

%

1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

Total

In CHF

3.1%

4.1%

3.9%

-6.5%

1.1%

In local currencies

7.6%

11.0%

9.3%

1.3%

7.3%

Sika expects for the fourth quarter that negative currency effects in combination with higher raw material prices will also influence profit margins to a limited extent. Detailed information on this and the reporting year 2008 overall will be published on 24 February 2009 within the scope of the press conference on annual results.

Sika AG, located in Baar, Switzerland, is a global specialty chemicals company supplying construction markets and manufacturing industries (automotive, commercial vehicle, building component manufacturing). Sika is a leader in processing materials used in sealing, bonding, damping, reinforcing and protecting load-bearing structures.

Sika’s product lines feature high-quality concrete admixtures, specialty mortars, sealants and adhesives, damping and reinforcing materials, structural strengthening systems, industrial flooring as well as roofing and waterproofing systems. Subsidiaries in more than 70 countries worldwide and approximately 11’700 employees link customers to Sika and guarantee the success of all our business relationships. Striving to deliver added value to all stakeholders, Sika generates annual sales of CHF 4.6 billion. Visit our website at

Source: Sika AGAuthor: shangyi

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