Sika Increases 2021 Annual Sales Target Following Record-Breaking First Quarter
Sika reported record sales of almost CHF 2 billion (approximately $2.2 billion) in the first quarter of 2021.
Despite the ongoing COVID-19 pandemic, Sika recently announced that it has had a dynamic start to the 2021 fiscal year, continuing its growth trajectory in the first quarter with a new sales record of almost CHF 2 billion (approximately $2.2 billion). This equates to an increase of 12.6% in local currencies. Sales growth in Swiss francs amounted to 10.2%, which includes a negative currency effect of 2.4%. The acquisition effect was 1.5%. Organic growth in the first quarter amounted to 11.1%.
"As the new year got underway, we were able to seamlessly build on our strong performance in the fourth quarter of last year," said Paul Schuler, CEO. "We made targeted use of our growth momentum and further expanded market shares in the majority of our markets. Both in the project business and the distribution business, we are benefiting from strong customer demand for our high-quality, innovative, and sustainable solutions. These not only help our customers master their projects and challenges, but also contribute to greater sustainability in the construction sector and to environmentally-friendly mobility. The COVID-19 pandemic will be with us in 2021 too. After a year's experience of doing business in this environment, it is clear that we are on the right course with the implementation of numerous digital initiatives and are benefiting from the added value these provide, as well as from the strength of our customer relationships."