Ad Hoc Announcement Pursuant to Article 53 of the SIX Exchange Regulation Listing Rules
SIKA EXCEEDED
Results 2022
- Sales of CHF 10,491.8 million (+13.4%), sales increase in local currencies of +15.8%
- Operating profit (EBIT) increased to CHF 1,579.7 million (+13.5%), resulting in an EBIT margin of 15.1% (previous year: 15.0%)
- Net profit up to CHF 1,162.5 million (+10.9%)
- Reduction of CO2eq emissions by -6.9% to 16.4 kg per ton sold
- Proposal for dividend increase of 10.3% to CHF 3.20 per share (previous year: CHF 2.90)
Outlook for 2023 fiscal year
- Closing of MBCC acquisition targeted for the first half of 2023
- Sales increase in local currencies by 6-8% and an over-proportional increase in EBIT anticipated (excluding impact of MBCC acquisition)
- Confirmation of 2023 strategic targets for sustainable, profitable growth
Sika performed well against an increasingly difficult economic backdrop and exceeded the
RECORD FIGURES FOR SALES AND PROFIT
Sika not only achieved an all-time high in sales in fiscal 2022; it also set a record in profit. Price increases, rigorous cost management, efficiency gains, and synergies from acquisitions allowed the company to largely offset the significant rise in raw material costs. A profit from the divestment of the European industrial coatings business came alongside expense relating to the MBCC acquisition. EBIT amounted to
GROWTH IN ALL REGIONS
Rising raw material costs around the globe were a prominent feature of fiscal year 2022, as well as a deceleration in the construction sector in the second half of the year. These developments can be attributed to high inflation and accompanying interest rate hikes.
The EMEA region (
The
Sales in the
In Global Business, Sika achieved growth in local currencies of 22.2% (previous year: 4.3%), and thus grew significantly faster than the market. High demand for new vehicles and a normalization of supply chains boosted business activity. For the automotive business, Sika is anticipating a recovery in the market over the medium term with continued growth stimuli from electromobility and alternative drive concepts in particular.
SIKA ON THE PATH TO NET ZERO
Sustainability has been a key element of Sika’s corporate strategy for more than a decade. As an innovation leader, the company develops sustainable solutions for the construction sector and industrial applications. Beyond this, innovations are playing a central role on the path to achieving the company’s net zero target. By 2032, Sika will have reduced its greenhouse gas emissions by around 25% compared with the baseline year 2022, with this figure rising to 90% by 2050. In 2022, Sika was able to reduce CO2eq emissions by –6.9% per ton sold (scope 1 and 2).
MBCC ACQUISITION IN THE FINAL STAGES
The acquisition of MBCC is now in the final stages. In January, Sika signed an agreement with
DIVIDEND INCREASE AND OUTLOOK
At the Annual General Meeting on
For 2023, Sika is confident that it can successfully continue its strategy built on sustainable and profitable growth even in a challenging economic environment. Thanks to its innovative technologies, Sika is the partner of choice for many customers in the construction and industrial sectors. In addition, the global construction industry is being shaped by the megatrend of climate change as well as by increasing automation, digitalization, and easy-to-apply products. With its broad product portfolio, Sika is well positioned to offer its customers solutions that allow them to reduce their carbon footprint while facilitating long-lasting, resource-saving construction. On top of this, Sika is benefiting from global, state-driven economic programs supporting infrastructure expansion and investments in climate protection.
For fiscal 2023, Sika expects sales to rise by 6–8% in local currencies and anticipates an over-proportional increase in EBIT (excluding the impact of the MBCC acquisition).
KEY FIGURES 2022
in CHF mn | as % of net sales | 2021 | as % of net sales | 2022 | Δ in % |
Net sales | 9,252.3 | 10,491.8 | +13.4 | ||
Gross result | 51.8 | 4,791.3 | 49.4 | 5,179.8 | +8.1 |
Operating profit before depreciation (EBITDA) | 19.0 | 1,758.0 | 18.7 | 1,964.2 | +11.7 |
Operating profit (EBIT) | 15.0 | 1,391.4 | 15.1 | 1,579.7 | +13.5 |
Net profit | 11.3 | 1,048.5 | 11.1 | 1,162.5 | +10.9 |
Net profit per share (EPS) in CHF1 | 6.91 | 7.57 | +9.6 | ||
Operating free cash flow | 9.8 | 908.4 | 8.2 | 865.2 | -4.8 |
Balance sheet total | 10,706.8 | 11’319.2 | +5.7 | ||
Shareholders' equity | 4,395.9 | 4,967.1 | |||
Equity ratio in % | 41.1 | 43.9 | |||
Net working capital | 18.4 | 1,701.9 | 18.3 | 1,915.8 | |
ROCE in % | 20.1 | 21.6 | |||
Number of employees | 27,059 | 27,708 | +2.4 |
1) undiluted
The Annual Report and the media conference/analyst presentation on the 2022 financial year can be downloaded at www.sika.com.
Link to Annual Report: www.sika.com/annualreport
Link to live transmission of the media, investor, and analyst presentation of
FINANCIAL CALENDAR
55th Annual General Meeting | |
Net sales first quarter 2023 | |
Half-Year Report 2023 | |
Results first nine months 2023 | |
Net sales 2023 | |
Media conference/analyst presentation | |
on 2023 full-year results |
CONTACT
Corporate Communications & Investor Relations
+41 58 436 68 21
slappnig.dominik@ch.sika.com
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. With more than 27,500 employees, the company generated annual sales of
The media release and annual report can be downloaded from the following link:
Media Release
Annual Report 2022
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