JD Neuhaus

Sika with strong Sales Growth in first Quarter – Slower in March due to Covid-19

  • Sales increase of 15.4% in local currencies to CHF 1,813.6 million (+10.3% in CHF)
  • Negative currency effect of –5.1%
  • Acquisition of Adeplast (Romania) concluded, new production facility in Sarnen (Switzerland) comes on stream
  • Outlook for 2020: forecast for 2020 not yet possible due to ongoing developments related to Covid-19
  • Confirmation of 2023 strategic targets for sustainable, profitable growth

Thanks to a good start to the 2020 business year, Sika has continued its growth trajectory, reporting a new sales record of CHF 1,813.6 million in the first quarter. This equates to an increase of 15.4% in local currencies. A negative currency effect of –5.1% led to sales growth in Swiss francs of 10.3%, with an acquisition effect of 16.7%. Organic growth was thus slightly negative in the first quarter, at –1.3% This reflects the first repercussions on business of the Covid-19 pandemic.

Paul Schuler, Chief Executive Officer: "Since the start of the coronavirus pandemic, Sika has been quick to react in all markets affected, implementing the necessary measures swiftly and rigorously. This has been done with a view to safeguarding the health of employees, maintaining business activity, and adapting to the new market conditions through targeted cost management. The crisis will affect Sika, too, but – thanks to our proximity to customers in all countries – we are able to move fast in order to grasp opportunities and thus capture further market share. I want to thank all of our employees for their great dedication at this difficult time."

Source: SIKA

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