Sika's Nine-Month Sales Rose to a Record
By Yifan Wang
Sika AG on Friday posted record sales for the first nine months
of the year, thanks to market-share gains in all its geographic
The Swiss specialty-chemicals company's net profit was 765.1
million Swiss francs ($833.1 million), up 36% from a year
Net sales rose 18% to an all-time high of CHF6.86 billion,
driven by double-digit sales growth in its markets around the
Sika said raw-materials costs were sharply higher during the
period, but profitability pressure was mitigated by its efficiency
enhancing measures and economies of scale.
The company backed its earnings guidance for 2021, expecting
sales growth of 13%-17%. It also confirmed its outlook that the
margin of earnings before interest and taxes would reach 15% for
the first time this year.
Write to Yifan Wang at email@example.com
(END) Dow Jones Newswires
October 21, 2021 23:44 ET (03:44 GMT)
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