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Sika AG Q1 Sales Rise; Confirms 2023 Targets - Quick Facts

Swiss specialty chemicals company Sika AG (SXYAY.PK,SKFOF.PK) reported first-quarter sales of 1.814 billion Swiss francs, an increase of 10.3%. Sales grew 15.4% in local currencies.

In the first quarter of 2020, sales in the Europe, Middle East, Africa or EMEA region increased by 13.2%, compared to last year's growth of 8.2%.

The Americas region recorded sales growth of 23.0% and sales in the Asia/Pacific region rose by 29.8%.

Looking ahead, the company said that the forecast for 2020 not yet possible due to ongoing developments related to COVID-19.

But, Sika confirms its strategic targets 2023. Sika is seeking to grow by 6-8% a year in local currencies by 2023. It is aiming for a higher EBIT margin of 15-18% from 2021 onward.

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