Sika defies Coronavirus Crisis with Growth in local Currencies
- Sales growth of 2.9% in local currencies to CHF 3,614.6 million (–3.2% in CHF)
- High negative currency effect of –6.1% (impact of minus CHF 225 million in sales and CHF 29 million in EBIT)
- Maintained high EBITDA margin of over 16% (currency adjusted absolute EBITDA was flat)
- Operating profit (EBIT) at CHF 410.2 million (–14.8%)
- Increased operating free cash flow amounting to CHF 254.7 million (+41.7%)
- Closing of acquisition of Adeplast (Romania), takeover of Modern Waterproofing Group (Egypt), and buildup of a new factory in Barranquilla (Colombia)
- Outlook for the second half of the year: Sika is expecting more favorable market conditions. With the anticipated improvement in sales volumes, the company expects an over-proportional EBIT increase for the second half of the year
- Confirmation of 2023 strategic targets for sustainable, profitable growth