Sika Achieves Record Sales in First Nine Months of 2019
Sika reports that the implementation of the group’s growth strategy will continue in 2019 with the opening of between seven and nine new factories.
In the first nine months of 2019, Sika reported high growth and a new sales record of CHF 6 billion (approximately $6 billion). This equates to an increase of 15.1% in local currencies; the acquisition effect accounted for 11% and organic growth 4.1%. Sales growth in CHF amounted to 12.9% (-2.2% currency effect).
“Following strong sales growth of 15.1% and a solid organic growth in the third quarter, we are confident that we will exceed our sales target for fiscal 2019 of CHF 8 billion,” said Paul Schuler, CEO. “Particularly pleasing is the strong operating free cash-flow that we were able to achieve in the first nine months. The integration of Parex and the realization of our shared business potential is proceeding very successfully and at a good pace. Thanks to our recently announced Strategy 2023 we are pointing our already powerful organization to the next level, and will be implementing further initiatives to drive growth momentum, sustainability, and operational efficiency.”