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Sika HY Profit Climbs

Sika (SXYAY.PK,SKFOF.PK), a specialty chemicals company, reported that its net profit after taxes for the first-half of 2021 climbed to 494.7 million Swiss francs or 3.12 francs per share from 275.6 million francs or 1.76 francs per share last year.

Sales were 4.45 billion francs, an increase of 23.5% in local currencies. Sales growth in Swiss francs amounted to 23.1%, which includes a slightly negative currency effect of negative 0.4%.

For the 2021 fiscal year, Sika expects sales growth in local currencies of 13%-17% as well as an over-proportional EBIT increase. Previously, it expected double-digit sales growth in local currencies. The EBIT margin will reach 15% for the first time, despite a challenging raw material price development.

Sika confirmed its 2023 strategic targets. The company is still clearly aligned for long-term success and profitable growth. Sika expects sales growth to be 6%-8% a year in local currencies up to 2023. From 2021, the company is aiming to increase its EBIT margin to 15%-18%.

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