In posting its 2024 financials, Sika reports a strong performance in a market that remained very challenging, achieving record results and expanding its market share. In 2024, Sika generated net sales of CHF 11,763.1 million (approx. $13,292.2 million), compared to the previous year of CHF 11,238.6 million (approx. $13,699.6 million). In local currencies this corresponds to an increase of 7.4%. Sales growth in Swiss francs amounted to 4.7%. This figure includes a foreign currency impact of -2.7%. Organic growth was 1.1% above the previous year’s level. In the second half of the year, organic growth came to 1.7%. 

Thomas Hasler, CEO of Sika, commented, “Despite a market environment that remains very challenging, we achieved new record sales and an over-proportional increase in profits. We are proud of this performance and have demonstrated our ability to expand our market shares even under demanding conditions and to fully exploit the strengths of the MBCC acquisition, our numerous growth initiatives, and our powerful and sustainable product innovations. We have positioned ourselves as a strong player and will continue to drive growth and exploit business opportunities for Sika. Our more than 34,000 employees have once again delivered outstanding results and have made a significant contribution to Sika's success with their positive mindset and motivation – I would like to thank them most sincerely for this.”

In 2024, Sika significantly increased its material margin to 54.5% (previous year: 53.6%), which is within the expected bandwidth of 54-55%. EBITDA increased over-proportionally by 11.0% to CHF 2,269.5 (approx. $2,564.5 million) compared to the previous year of CHF 2,044.7 million (approx. $2,310.5 million), a new record level. The EBITDA margin reached 19.3% compared to the previous year of18.2%. Net profit also reached a new record level at CHF 1,247.6 million (approx. $1,409.8 million), which is 17.4% higher than previous year of CHF 1,062.6 million (approx. $1,200.7 million).

Sika reports that in 2024, all regions performed well, contributing to its sustained growth and expansion of market share. Sika thus succeeded in achieving further organic growth in the past fiscal year, even under difficult market conditions.

The EMEA region (Europe, Middle East, Africa) reported a sales increase in local currencies of 7.3% (previous year: 14.1%). In 2024, the market environment in the European construction markets was very challenging, while countries in the Middle East and Africa were able to greatly expand their business activities. Contrary to the market trend, Sika was able to perform well in a negative market in Germany, while southern countries such as Italy and Spain achieved slight growth over the course of the year. The automotive and industrial business declined. This is due in particular to falling demand for new vehicles in Europe. Only the sale of hybrid vehicles increased in 2024.

In local currency terms, the Americas region achieved an 11.2% increase in sales (previous year: 15.0%). The year 2024 was the first time that revenues in the region surpassed CHF 4 billion (approx. $4.2 billion). Sika USA posted steady, strong growth. State-supported infrastructure projects and commercial construction projects that are being implemented as part of the drive to relocate production in the United States are supporting the positive trend. Thanks to Sika’s local presence – close to 100% of all the products and solutions that are sold in the United States are manufactured in the United States – and strong position in the refurbishment business, Sika outperformed the market. Latin America also contributed to the positive trend in the region with solid growth.

Sales in the Asia-Pacific region rose by 2.4% in local currencies (previous year: 14.7%). Despite government support measures, the Chinese construction market remains markedly negative. This is reflected particularly in Sika’s declining project business and, to some extent, in its distribution business. By contrast, Southeast Asia picked up momentum over the course of 2024 and achieved high-single-digit organic growth. In the automotive and industry business, Sika continued to increase the share of its technologies in vehicles of local and international manufacturers in China, Japan, and India.

In view of the good results, at the company’s annual general meeting to be held on March 25, 2025, the board of directors will be proposing to shareholders that the gross dividend per share be increased from CHF 3.30 (approx. $3.73) to CHF 3.60 (approx. $4.07), or +9.1%. Half of the payment is to be distributed from the reserves from capital contribution. Sika has increased its dividend at a double-digit average annual rate for the last 25 years. 

Additionally, at the annual general meeting on March 25, 2025, Kwok Wang Ng will be nominated for election to the board of directors. Monika Ribar, who has been a member of the board of directors since 2011, will not be standing for re-election.

Sika reported that the company is confident to successfully continue to execute on its strategy and deliver sustainable, profitable growth in a slowly recovering economic environment. Sika is confirming its 2028 strategic mid-term targets for sustainable, profitable growth. For the 2025 fiscal year, Sika is expecting sales growth in local currencies of 3-6%. The company expects a further over-proportional increase in EBITDA and an expansion of the EBITDA margin to 19.5%-19.8%.

Learn more about Sika at www.sika.com.