Sika Announces New Multi-Component Business Strategy
By targeting the six pillars of market penetration, innovation, operational efficiency, acquisitions, strong corporate values, and sustainability, Sika plans to grow by 6-8% per year up to 2023.
At the recent 2019 Sika Capital Markets Day, CEO Paul Schuler presented the company’s new Strategy 2023, which reportedly builds on the current growth model. In addition to an increase in the long-term EBIT target, the main new elements of Strategy 2023 are the introduction of a new target market (“Building Finishing”); a focus on operational efficiency; and a targeted, group-wide emphasis on environmentally friendly products and sustainability.
“We are convinced that Strategy 2023 will enable us to raise Sika to the next level and to continue on the growth trajectory we have successfully pursued for many years,” said Schuler. “With our newly established eighth Target Market ‘Building Finishing’ we will be bundling our range of services and skills in the mortar technology field, thus focusing on the potential in this market. Increased focus on raising operational efficiency will help us improve our operating costs by 0.5 percentage points per year. On top of that, we want to make our product innovations even more sustainable while at the same time boosting product performance.”