According to Sika, its growth trajectory was extended with a 2020 sales increase of 3.4% in local currencies.
Sika recently announced its results for 2020, a year characterized by the deep-rooted global challenges caused by COVID-19. Lockdowns (prolonged, in many cases) in most of the hundred countries in which Sika is active resulted in significant restrictions on construction activity. According to Sika, its strong market position and the swift, targeted implementation of measures enabled the company to record solid sales figures despite the significant repercussions of the global pandemic.
The company’s growth trajectory was reportedly extended with a rise in sales of 3.4% in local currencies. The acquisition effect amounted to 7.2% and contributed to the sales increase accordingly. A strongly negative currency effect (down 6.3%) caused sales in Swiss francs to decline by 2.9% to CHF 7.9 billion (approximately $8.9 billion), which includes a negative currency impact of around CHF 500 million (~ $562 million). When the fourth quarter is viewed in isolation, Sika achieved growth in local currencies of about 5.5% (organic, 4.1%).