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Sika AG FY21 Sales Climb, Sees Growth In EBIT; Confirms FY23 Targets - Quick Facts

Sika AG (SXYAY.PK,SKFOF.PK), a specialty chemicals company, reported Tuesday that its fiscal 2021 sales were 9.24 billion Swiss francs, up 17. 3 percent from last year. Sales increased 17. 1 percent in local currencies.

Organic growth amounted to 15.1 percent. Compared with the same period in 2019, the organic gain was 11.9 percent.

Sika grew more strongly than the market in all regions in 2021 in an environment characterized by a number of temporary lockdowns.

The Europe, Middle East, Africa or EMEA region reported a sales increase in local currencies of 16.1 percent. The Americas region recorded growth in local currencies of 21 percent, and the growth was 19.4 percent in the Asia/Pacific region.

For the 2021 fiscal year, Sika is anticipating an over-proportional increase in EBIT and an EBIT margin of 15 percent.

Further ahead, Sika confirmed its 2023 strategic targets. The company is seeking to grow by 6 percent-8 percent a year in local currencies up to 2023. As of 2021, the company is aiming for a higher EBIT margin of 15 percent-18 percent.

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