Sika Capital Markets Day 2022: growth expectations revised upward for 2022

Sika Capital Markets Day 2022: growth expectations revised upward for 2022

PRESS RELEASE) BAAR, 4-Oct-2022 — /EuropaWire/ — Sika (SWX: SIKA), a Swiss multinational specialty chemical company, is holding its Capital Markets Day 2022 today (04 Oct 2022) in Zurich, Switzerland under the motto “Our Path to Net Zero”. During the event the company will outline the strategy that allows the company to maintain a high level of growth while achieving its net zero targets by 2050. In a presentation delivered to a 200-plus audience, CEO Thomas Hasler confirms the strategic attractiveness of the MBCC acquisition, and revises growth expectations upward for 2022.

Sustainability has been a key factor in Sika’s corporate strategy for over a decade. With its powerful capacity for innovation, Sika develops a range of sustainable solutions for the construction industry, as well as industrial applications for the automotive and other industries. The company is focused on innovating in a very targeted manner in order to achieve its net zero objectives.

“To tackle climate change is of central importance even in more demanding economic environments. Our clear goal is to continue growing sustainably, and deploy new innovations to decouple our growth from greenhouse gas emissions. We intend to use groundbreaking solutions that enable our customers to reduce their CO2 emissions. As a leading innovator, we can play a key role in enabling the achievement of net zero targets in our markets, which positions Sika very well for continued growth and for the future,” commented Thomas Hasler, Chief Executive Officer.

At Sika Capital Markets Day 2022, members of Group Management and Sika experts demonstrate how the company’s innovations will accelerate the path to net zero, how the resilient and agile business model will generate sustainable growth, how forward-looking topics such as digitalization and automation will transform the construction industry, and the importance of electromobility, wind and solar energy in the development of future-oriented, smart cities.

Sika confirms the strategic fit of the MBCC acquisition. Unconditional approval has already been received from the authorities in most juristictions, including Japan, China, Brazil, South Africa, Saudi Arabia, Turkey, and Thailand. The acquisition is significantly value-enhancing and Sika confirms annual synergies of CHF 160–180 million. A process has been started to look for a competent buyer for part of MBCC’s admixture business.

For fiscal year 2022, Sika expects sales in local currencies to rise by over 15%, with an over-proportional increase in EBIT.

SIKA CORPORATE PROFILE
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 101 countries around the world and manufactures in over 300 factories. Its more than 27,000 employees generated annual sales of CHF 9.3 billion in 2021.

Media contact:

Dominik Slappnig
Corporate Communications and
Investor Relations
+41 58 436 68 21
slappnig.dominik@ch.sika.com

SOURCE: SIKA AG