First publishedon www.AggBusiness.com
Sika, the international construction chemicals and products giant, saw its H1 2017 net profit rise by 16% to CHF 285.7 million (€254.6mn). Global sales were also up 8.1% over the same period to CHF 2.994.9 billion (€2.669bn).
In the first half of the year, Sika’s sales in the EMEA region (Europe, Middle East, Africa) increased by 7%. A new factory for concrete admixtures was opened in Tanzania and a further national subsidiary was founded in Senegal. In Kazakhstan, concrete admixture and mortar production in Almaty was relocated to a larger site.
The North America region posted the strongest growth at 17.4% (8.7% was through acquisitions).
In the Latin America region sales increased 2.7% in the first half-year, compared to 5.9% in the corresponding period of the previous year.
Sales in the Asia/Pacific region increased 4.1%.
Sika’s financial statement says that the strong start to the year supports the target for the full year, which “aims at a 6-8% increase in sales to more than CHF 6bn for the first time”.
The H1 2017 results were the last under outgoing chief executive Jan Jenisch, who has left Sika to take over at global cement heavyweight LafargeHolcim. He has been replaced by Paul Schuler, a company veteran who has been CEO since July 1.
Speaking of Sika’s H1 2017 trading, Schuler said: “The positive performance in the first half of 2017, the opening of a further national subsidiary, and the commissioning of three new factories all bring us one step closer to achieving our strategic targets for 2020.”