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Sika AG Q1 Sales Rise; Confirms FY19 Sales View - Quick Facts

Swiss specialty chemicals company Sika AG (SXYAY.PK,SKFOF.PK) reported Tuesday a successful start to the 2019 business year with first-quarter sales of 1.64 billion Swiss francs, an increase of 5.8%. Sales grew 7.1% in local currencies.

In the first quarter of 2019, sales in the Europe, Middle East, Africa or EMEA region increased by 8.2%, compared to last year's growth of 10.2%.

The Americas region recorded sales growth of 4.8% and sales in the Asia/Pacific region rose by 2.8%.

Looking ahead, for fiscal 2019, the company confirmed its sales target of at least 8 billion francs. With the consolidation of Parex tentatively taking place in the second quarter, sales is set to exceed 8 billion francs for the first time.

Sika expects sales to increase by 6-8% in 2019, in accordance with the Group's Strategic Targets 2020, and anticipates an over-proportional rise in profits.

The implementation of the Group's growth strategy will continue in 2019 with the opening of between seven and nine new factories, and the establishment of further growth platforms in the form of acquisitions.

Details of the new Strategy 2023 will be presented at the Sika Capital Markets Day on October 3, 2019.

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