Sika Sales Rise in All Regions in Third Quarter 2014
Sika recently announced financial results for the first nine months of 2014. The company reported sales of CHF 4,174.4 million (~ $4,338 million), an increase of 11.7%.
“We achieved further strong growth in the third quarter and, despite challenging market conditions worldwide, increased sales by over 11% and posted an above-average rise in net profit,” said Jan Jenisch, CEO. “We are on track to realize the targets set under Strategy 2018. Our success is based on the accelerated expansion of growth markets, our investments in new factories, acquisitions and new product launches, coupled with the achievements and know-how of our employees.”
In the first nine months of the business year, sales increased by 15.8%, with all regions reportedly contributing to the growth. Sales in the EMEA (Europe, Middle East, Africa) region reported a 17.4% increase in the first nine months of the year. Visible growth drivers in the Middle East and Africa, and the moderate recovery seen in the southern European markets had a positive impact on the region’s development. In addition, the acquisitions made in 2013 and product roll-outs contributed to the strong growth.
North America recorded an 8.5% increase in sales. Projects delayed at the beginning of the year due to the harsh winter are reportedly now under construction, and investments are being made in infrastructure projects and commercial buildings. The Asia-Pacific region grew by 15.6%. China, Japan, Southeast Asia and Australia showed double-digit growth. This positive performance is reportedly being driven by gains in market share, entry into new markets, the launch of new products, and newly opened factories. At 17.1%, sales growth remained consistently high in Latin America.
For more information, visit http://usa.sika.com.