Acquisitions Help Drive Results for Sika in First Nine Months of 2020
Sika’s sales for the first nine months of 2020 increased by 2.6% in local currencies to CHF 5.8 billion (approximately $6.4 billion).
Sika recently reported that it maintained its growth trajectory over the first nine months of 2020, despite the severe repercussions of the coronavirus pandemic, increasing sales by 2.6% in local currencies to CHF 5.8 billion (approximately $6.4 billion). The effect of acquisitions contributed 9.2% to the growth in sales.
Organic growth in the first nine months of 2020 was in negative territory, down 6.6%. A strongly negative currency effect (- 6%) caused sales in Swiss francs to decline by 3.4%; the latter figure reflects a currency loss of around CHF 357 million (~ $392.2 million).