SIKA exceeds sales of CHF 10 billion for first time

Further growth platforms secured with acquisitions of Sable Marco (Canada) and UGL (USA)

Sika performed well against an increasingly difficult economic backdrop and – with CHF 10.49 billion in sales – the company exceeded the CHF 10 billion mark for the first time. This corresponds to a substantial increase of 15.8% in local currencies compared to the previous year. The currency effect came to –2.4%, with the softening US dollar and the continued weak euro particularly impacting this development. The acquisition effect was 2.5%.

Thomas Hasler, Chief Executive Officer: “In a market environment that proved extremely demanding, Sika achieved an impressive performance in fiscal 2022, posting sales in excess of CHF 10 billion for the first time in the company’s history. This solid result was made possible thanks to our broad product portfolio, our ability to innovate with a focus on sustainable product technologies, and – in particular – our workforce around the globe, whose dedication and agility once again made outstanding achievements possible. On behalf of Group Management, I would like to thank our workforce of more than 27,500 people for the commitment they have shown over the past year and for their exceptional loyalty to our company.”

Meanwhile, the acquisition of MBCC is now in its final stages. In December, the Competition and Markets Authority (CMA) in the UK accepted the remedy offered by Sika and MBCC Group to divest the MBCC concrete admixture business. Further rulings are pending, including the approval of the European Commission. Closing of the MBCC acquisition is targeted for the first half of 2023. The takeover is significantly value-enhancing. Together with MBCC, Sika will be able to strengthen its growth platform and expects to generate annual synergies of CHF 160–180 million.