Sika Releases Financial Report for First Quarter of 2023
Sika ended the first quarter of 2023 with a slight growth. Sales in local currencies and organic growth both increased by 1.2%. Sika posted sales of CHF 2,325.9 million. Compared with the strong prior-year period and due to the stronger Swiss franc, the sales development in CHF amounted to -3.0%. This figure includes a currency effect of -4.2%. The more dynamic markets in the Americas and Asia-Pacific regions offset the weaker performance in Europe. Growth in Global Business outstripped the market and was once again in double digits. Sika achieved a substantial increase in the material margin in the first quarter.
"Sika successfully navigated the economic challenges in the first quarter. With our balanced product and sales mix we could smooth out fluctuations in the individual regions. As anticipated, the first quarter was challenging, but – given the recovery expected in the markets – we are sticking with our growth ambitions for 2023. We expect that the acquisition of MBCC will be closed in the first half of the year. With MBCC, we are expanding our leadership position for sustainable solutions in the construction industry even further. We are thus strengthening the platform underpinning our Strategy 2028 for profitable, long-term growth and securing a sustained increase in value for our customers, for our employees, and for our shareholders," said Thomas Hasler, chief executive officer.