Sika Grows Further Through Acquisitions
Published: Friday, Oct 20th 2023, 10:10
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Sika, a Swiss company, has grown despite the global slowdown in the construction industry due to its active consolidation strategy. In the last five years, the company has completed 22 acquisitions, including two major acquisitions, Parex (2019) and MBCC (2020). The acquisition of MBCC has contributed to an increase in sales of 12.4% in local currencies to 8.45 billion Swiss francs. However, the strong currency effect has resulted in a 5.6% increase in sales in Swiss francs. Integration costs have had a negative impact on profits, resulting in a 17% decrease in net profit to 736.5 million Swiss francs. Despite this, the company has achieved a 14.8% EBIT margin, up 1 percentage point from the previous year, due to improved material margins. For the current year, Sika expects sales to increase by more than 15% in local currencies, with the EBITDA margin increasing to 20-23%. Analysts have praised the margin development.
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