In the past fiscal year, Sika achieved record sales of CHF 11.76 billion (approximately $12.83 billion), compared to the previous year of CHF 11.24 billion (approximately $12.26 billion), amidst continued challenging market conditions. In local currencies this corresponds to an increase of 7.4%. Sales growth in Swiss francs amounted to 4.7%. This figure includes a negative currency effect of -2.7%. Organic growth rose slightly and was 1.1% above the previous year’s level. Organic growth of 1.7% was achieved in the second half of the year. Sika thus succeeded in expanding its market share in a targeted manner in the final quarter of the year. 

Thomas Hasler, Sika’s chief executive officer, explained, “Over the past 12 months, Sika posted a strong performance in a market environment that remains challenging and achieved a new record in terms of sales. Our growth initiatives, our high-performing and sustainable innovations, and our systematic sales strategy aimed at further market penetration are successful and lead to market share gains. Our 33,000 employees produced an excellent performance in challenging markets and successfully advanced the MBCC integration. With their performance-oriented mindset, they have made a significant contribution to Sika’s success, and I would like to thank them most sincerely.”

In general, the growth trends of the first nine months also continued in the final quarter of fiscal 2024. All regions performed well and contributed to Sika’s further growth and the systematic expansion of market share.

The EMEA region (Europe, Middle East, Africa) reported a sales increase in local currencies of 7.3% (previous year: 14.8%). In 2024, the market environment in the European construction markets was very challenging. The countries in the Middle East and Africa were able to greatly expand their business activities. Contrary to the market trend, Sika was able to perform well in a negative market in Germany, while southern countries such as Italy and Spain achieved slight growth over the course of the year. The automotive and industrial business declined. This is due in particular to falling demand for new vehicles in Europe. Only the sale of hybrid vehicles increased in 2024.

In local currency terms, the Americas region achieved an 11.2% increase in sales (previous year: 14.9%). Sika USA in particular posted steady, strong growth. State-supported infrastructure projects and commercial construction projects that are being implemented as part of the drive to relocate production in the USA are supporting the positive trend. Thanks to Sika’s local presence and strong position in the refurbishment business, Sika outperformed the market. Latin America also contributed to the positive trend in the region with solid growth.

In the past fiscal year, Sika completed a major acquisition in the field of bridge rehabilitation in acquiring Kwik Bond, a US-based manufacturer of polymer systems for the renovation of concrete infrastructures. Sika also took over Vinaldom, an established family-run company in the Dominican Republic that produces high-quality product solutions for concrete construction. In Peru, Sika completed the acquisition of Chema, a leading manufacturer of mortar solutions with broad-based access to the distribution market. In addition, an ultra-modern plant for the production of synthetic macro fibers used to strengthen concrete structures was commissioned. 

Sales in the Asia-Pacific region rose by 2.4% in local currencies (previous year: 15.2%). Despite government support measures, the Chinese construction market remains markedly negative. This is reflected particularly in Sika’s declining project business and, to some extent, in its distribution business. By contrast, Southeast Asia picked up momentum over the course of 2024 and achieved high single-digit organic growth. In the automotive and industry business, Sika continued to increase the share of its technologies in vehicles of local and international manufacturers in China, Japan, and India.

In Liaoning, the largest province in northeastern China, Sika opened a plant that produces mortar, tile adhesives, and sealant solutions. With the opening of the plant, Sika can benefit from local demand in the distribution business and generate future growth. Moreover, Sika more than doubled production capacity at its plant in Bekasi, the largest production facility in Indonesia. 

Looking forward, Sika stated that the company is confident it will be able to successfully continue its strategy of sustainable and profitable growth in a slowly recovering economic environment. For the 2024 fiscal year Sika expects an over-proportional increase in EBITDA. The complete results will be published on February 21, 2025.

Learn more about Sika at www.sika.com.