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Sika Confirms Targets For FY21, FY23 - Quick Facts

Sika AG (SXYAY.PK,SKFOF.PK), a specialty chemicals company, on Thursday confirmed fiscal 2021 targets, expecting sales growth in local currencies of 13 percent-17 percent as well as an over-proportional EBIT increase. The EBIT margin will reach 15 percent for the first time, despite a challenging raw material price development and supply chain restrictions.

Further, 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 percent-8 percent a year in local currencies up to 2023.

The company continues to project higher EBIT margin of 15 percent-18 percent from 2021 onwards. Projects in the areas of operations, logistics, procurement, and product formulation are expected to result in an annual improvement in operating costs equivalent to 0.5 percent of sales.

At the Sika Capital Markets Day 2021 being held in Zurich today, CEO Thomas Hasler will give details about the targets.

Sika further said its overriding sustainability goal is to reduce CO2 emissions per ton sold by 12 percent until 2023. In addition, the company aims to make all product innovations even more sustainable while at the same time increasing product performance.

The company will demonstrate the groundbreaking Sika concrete recycling process at a test facility in Zurich. Further, Sika demonstrates how to further drive the decarbonization of the construction industry.

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