At the recent Sika Capital Markets Day 2020 held in Zurich, CEO Paul Schuler confirmed the group’s strategic targets to 2023. With a motto of “Weathering the storm—emerging from the COVID-19 crisis as a stronger company,” members of group management and Sika experts explained how trends such as innovation, digitalization, renovation, and sustainability are opening up opportunities for the company to gain market share during the crisis.
“Practically all our national subsidiaries have been impacted by the coronavirus pandemic,” said Schuler. “In many countries, the lockdown phase ended in June, and restrictions have been significantly eased. Momentum is picking up again in the construction sector. Our local management structure has enabled us to adapt swiftly worldwide to changing market conditions. Thanks to our rapid implementation speed and our proximity to our customers, we have been able to seize business opportunities and gain additional market share.”
During the Capital Markets Day, information was provided on the measures with which Sika intends to continue its sustainable growth in the future, despite the coronavirus crisis. Breakout sessions focused on the key success factors of the business model, including: the focus on innovation, digitalization, and sustainability; the opportunities presented by worldwide infrastructure programs; the increased demand for renovation; and the strengths of the business in the distribution channel.
Schuler also confirm the group’s strategic targets to 2023. By targeting six strategic pillars (market penetration, innovation, operational efficiency, acquisitions, strong corporate values, and sustainability), Sika is seeking to grow by 6-8% per year in local currencies until 2023. It is aiming for a higher EBIT margin of 15-18% from 2021 onward. The company expects that projects in the areas of operations, logistics, procurement, and product formulation should result in an annual improvement in operating costs equivalent to 0.5% of sales.
Sika’s overriding sustainability goal is to reduce CO2 emissions per ton sold by 12% until 2023. In addition, the company aims to make all product innovations even more sustainable while at the same time increasing performance.
For more information, visit www.sika.com.