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Ad hoc announcement pursuant to Art. del SIX Exchange Regulations Contribution Regulations
SIKA WITH STRONG PERFORMANCE IN DEMANDING MARKETS
Sales of CHF 7,998. 5 million (-16. 6% in CHF)
Sales grow by 18. 5% in foreign currency
Operating (EBIT): CHF 1,231. 5 million (-16. 8%)
Acquisition of Sable Marco (Canada) and UGL (United States)
Opening of new factories in Tanzania, Ivory Coast, Bolivia and USA
Fiscal 2022 Outlook confirmed:
Foreign exchange sales increased by more than 15%, exceeding CHF 10 billion for the first time
Expected disproportionate accumulation in EBIT
Confirmation of strategic 2023 for sustainable and successful growth
MBCC acquisition expected to close in the first part of 2023
Sika continued to perform well in a volatile economic environment and achieved another record result in the first nine months of fiscal 2022. The exchange rate effect amounted to -1. 9%. The effect of the acquisition was 3. 4 per cent, corresponding to biological expansion of 15. 1 per cent in the reporting period.
Thomas Hasler, Managing Director: “In the first nine months of the current monetary year, we had impressive effects under consistently difficult conditions. Thanks to our broad business style and global geographic presence, we have proven our resilience to crises and continue to grow strongly. Our purpose is to sell CHF 10 billion for the first time in 2022 and build our operating profit through a disproportionate amount. “
HIGHER RAW MATERIAL COSTS, EBIT UP 16. 8% The strong accumulation in raw curtain costs led to a 49. 3% decrease in the raw curtain margin in the first nine months (last year: 52. 6%). By leveraging synergies and efficiencies along the cost chain, additional economies of scale were achieved. Operating profit margin remained high at 15. 4% (previous year: 15. 4%). This resulted in an operating result (EBIT) of CHF 1231. 5 million (prior year). : CHF 1,054. 0 million), a cumulative of 16. 8% compared to last year. EBIT includes a profit of CHF 168 million resulting from the sale of the European commercial coatings business. Also expenses of CHF 39 million incurred in connection with the planned acquisition of MBCC. Net profit increase to CHF 885. 9 million (last year: CHF 765. 1 million).
DOUBLE-DIGIT GROWTH IN ALL REGIONS The global structure sector is characterized by the megatrend of climate replacement, as well as increasing automation, digitalization and easy-to-apply products, which are increasingly converting the structure industry. for responses that increase climate efficiency, reduce CO2 emissions, and use resources sparingly. With its broad product portfolio, Sika is ideally located to offer its consumers technologies that allow them to reduce their carbon footprint, while gaining greater longevity and minimizing the use of structural resources. In addition, Sika benefits from large-scale, global, state-run economic programs.
EMEA (Europe, Middle East, Africa) recorded a 10. 5% increase in local currency sales during the first nine months (previous year: 17. 6%). Sika’s distribution business, which includes sales through home improvement stores, builder distributors and online platforms, has declined in the last two quarters of the existing fiscal year. On the other hand, allocation activity, driven through economic programs and new investments in the electricity sector, was more physically powerful and recorded only a slight decrease. The East continues to enjoy strong double-digit growth.
Sika moved to a new site in the East African country of Tanzania in the early part of the year and now produces mortars as well as concrete additives. It has also expanded its services in Côte d’Ivoire in West Africa. This site has now doubled its previous length and benefits not only from more production services, but also from new storage, workplace and laboratory capacities.
The Americas region recorded an expansion in local currencies of 31. 9% (previous year: 19. 3%). Sika has generated the maximum of this expansion in infrastructure projects in the United States, which in 2022 won state-funded investments worth CHF two hundred billion to CHF 250 billion. The construction activity focuses on the modernization and expansion of metro lines, bridges, tunnels and roads. Strong demand also comes from investments in advertising structure projects, adding stadiums, warehouses and knowledge centers. In the United States, significant investments are also being made. similar to the re-importation of ad tech from Asia.
The acquisition of Sable Marco in Canada and UGL in the United States means that Sika has acquired two corporations that sell their high-performance products through established distribution channels. In addition, a new mortar production plant was inaugurated in Bolivia and a concrete admixtures production plant was inaugurated. near Washington D. C. in the United States.
Sales in the Asia/Pacific region increased by 17. 6% in local currency (previous year: 20. 7%). In China, it was basically distribution activity that benefited from a still strong expansion dynamic, recording double-digit expansion rates, while allocation activity impacted through more lockdowns due to the COVID-19 pandemic. However, Sika achieved double-digit expansion in China. The business in India continued to grow dynamically, with double-digit expansion achieved in challenging markets in Southeast Asian countries.
In the Global Business segment, Sika achieved local currency expansion of 22. 0% (previous year: 9. 9%), outperforming the market as a whole. Strong demand for new cars and standardization of supply chains have boosted activity. Marketplaceplace in the medium term with sustained expansion momentum. This will be driven through the transformation of the automotive industry, with electromobility and propulsion concepts of choice playing a central role.
ACHIEVE ADDITIONAL GROWTH THROUGH SUSTAINABILITY AND NET ZERO TARGETS Sustainable responses for the structural sector and for commercial applications, such as those in the automotive industry. The company focuses on innovation in a very specific way to achieve its 0 network purposes. Sika’s purpose is to continue to grow sustainably and, in doing so, uses its inventions to decouple the company’s expansion from greenhouse fuel emissions.
CONFIRMATION OF THE STRATEGIC FIT OF MBCC – OUTLOOK FOR 2022 Sika confirms the strategic compatibility of the acquisition of MBCC. Unconditional government approval was obtained in most countries, adding Japan, China, Brazil, South Africa, Saudi Arabia, Turkey, and Thailand. The acquisition is particularly price-increasing and Sika confirms annual synergies of CHF 160 to 180 million. A suitable client is being sought for the adjuvants business component of MBCC. The acquisition is expected to close in the first component of 2023.
For the 2022 monetary year, Sika expects sales in local currencies to increase by more than 15%, with a disproportionate accumulation in EBIT.
KEY FIGURES FOR THE FIRST NINE MONTHS OF 2022
million Swiss francs
1. 1. 2021 -30. 9. 2021
1. 1. 2022 -30. 9. 2022
% difference
Net sales
6 862,7
7 998,5
16. 6
Gross Income
3 608,8
3 941,8
9. 2
Operating profit before depreciation and amortization (EBITDA)
1 327,5
1 521,4
14. 6
Operating (EBIT)
1 054,0
1 231,5
16. 8
Profit after tax
765. 1
885. 9
15. 8
NET SALES BY REGION
million Swiss francs
1. 1. 2021 -30. 9. 2021
1. 1. 2022 -30. 9. 2022
Change over one ( /- in %)
in Swiss francs
In coins1
Exchange effect
Acquisition effect2
organic growth3
By region
EMEA
3 097,8
3 221,9
4. 0
10. 5
-6. 5
-0,8
11. 3
Americas
1 773,8
2 427,2
36,8
31,9
4. 9
6. 8
25. 1
Asia Pacific
1 493,3
1 750,9
17. 3
17. 6
-0,3
7. 1
10. 5
Global affairs
497. 8
598,5
20. 2
22,0
-1. 8
5. 9
16. 1
Net sales
6 862,7
7 998,5
16. 6
18. 5
-1. 9
3. 4
15. 1
Products for industry
5 653,5
6 611,1
16. 9
18. 8
-1. 9
2. 1
16. 7
Products for commercial manufacturing.
1 209,2
1 387,4
14. 7
16. 9
-2,2
9. 3
7. 6
1 Growth in local currency, adding acquisitions. 2 Contribution of the sales of the acquired companies representing the expansion after the business combination. Includes loss of sales from discontinued operations. The sales expansion of the acquired company since the initial consolidation is included in the biological expansion. 3 Acquisition-adjusted growth, discontinued operations and currency impact. The sales expansion of the business acquired since the first consolidation is included in the biological expansion.
Webcast today, 21 October 2022 at 15:00 (CEST)
A webcast will be held on the effects of the first nine months of the year. Log in five minutes before the event starts. Corporate Communications
FINANCIAL CALENDAR
Sales 2022
January 11, 2023
Press convention/analyst presentation on 2022 annual results
February 17, 2023
55th Annual General Meeting
March 28, 2023
First Quarter 2023 Revenue
April 18, 2023
Semester 2023
July 21, 2023
Results first months 2023
October 20, 2023
CONTACTDominik SlappnigCorporate Communication
SIKA’S COMPANY PROFILES is a specialty chemicals company with a leading position in the progression and production of systems and products for bonding, sealing, damping, reinforcement and coverage in the construction and automotive industries. Sika has subsidiaries in 101 countries around the world and manufactures in more than three hundred factories. Its more than 27,000 employees generated annual sales of CHF 9. 3 billion in 2021.
The press can be downloaded from the following link:
Press Release
Letter to shareholders nine months 2022_FR