Sika Shares Rise After 2022 Sales Guidance Upgrade
By Pierre Bertrand
Sika AG shares rose Tuesday after the Swiss building-products
company raised its sales guidance for 2022 ahead of its capital
markets day, setting a new target that analysts say should be
At 1227 GMT shares were 6.1% higher at CHF214.30.
The company said it now expects sales in local currencies to
increase this year by more than 15%, compared with previous
guidance of well over 10%, and to register an over-proportional
increase in its earnings before interest and taxes.
The company's upgraded sales-growth guidance is slightly under
UBS's own 16% estimate and under analysts' consensus estimates of
around 17%, UBS analysts said in a research note.
The company's growth in the second half of the year should be
boosted between 3% and 4% by the contribution of mergers and
acquisitions and double-digit pricing, the analysts said. "The
updated guidance is hence not overly demanding for [the second
half]," they said.
Write to Pierre Bertrand at email@example.com
(END) Dow Jones Newswires
October 04, 2022 09:02 ET (13:02 GMT)
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