Mi., Jan. 10th 2024
Sika Atkie leads the Market with transformative MBCC acquisition
The 2023 financial year marked a period of substantial growth for Sika, a renowned Swiss chemical company specializing in construction chemicals.
This growth trajectory was primarily fuelled by the acquisition of MBCC, a former competitor from Germany.
Despite the headwinds of a robust Swiss franc, Sika’s strategic moves have paid off impressively.
In local currencies, Sika’s sales soared by 14.5 percent, reaching an impressive 11.24 billion Swiss francs.
The acquisition of MBCC, formerly part of BASF’s construction chemicals business, was a game-changer.
It not only added 2.1 billion Swiss francs to Sika’s annual sales but also cemented its position as the market leader.
Sika’s growth story isn’t just about acquisitions.
The company also achieved a commendable organic growth of 1.2 percent, a significant feat in a shrinking market. Sika’s products, known for reinforcing and sealing building materials, have shown resilience and innovation in a challenging environment.
The strong Swiss franc, appreciating against most currencies, presented a challenge.
It led to a 7.4 percent reduction in sales due to currency effects, leaving the growth in Swiss francs at a modest 7.1 percent.
This was slightly below analysts’ expectations, who had anticipated a more robust growth based on Sika’s forecasts.
Following these developments, Sika aktie witnessed a 3.0 percent decline. However, Sika remains optimistic about the future.
The company aims to grow sales by 6 to 9 percent in the coming years, leveraging the megatrends of sustainability, urbanization, and automation.
While full annual financial statements are awaited on February 16, preliminary insights suggest that Sika’s operating profit, measured by EBIT, is set to outpace sales growth.
However, these projections exclude the newly acquired MBCC, as integration costs are still being absorbed.
©Keystone/SDA
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