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Sika Announces Record Growth in 2014

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By: KERRY PIANOFORTE

Editor, Coatings World, Coatings World

Sika reported record sales in 2014. In fiscal year 2014, Sika continued its growth and achieved what it calls “the best result in the company’s history.”
    
Sales reached record levels in all regions and all relevant growth targets for 2014 were exceeded. High growth momentum and disciplined cost management led to new record figures of CHF 633.2 million (+21.0 percent) for the operating result and CHF 441.2 million (+28.0 percent) for net profit.

Sika CEO Jan Jenisch said: “Our record year in 2014 is the result of our strategic continuity and the expertise and commitment of our 16,895 employees. Their energy, ideas and active embodiment of the Sika Spirit have taken Sika to the next level of performance. On behalf of Group Management, I wish to thank them all for their hard work and loyalty over the past year.”

Sika reported that the company significantly exceeded its growth targets for full year 2014. It increased sales by 13 percent (in local currencies) to CHF 5,571.3 million. All regions contributed to this growth and set new sales records. The negative currency effect for the full year was 4.7 percent. Sales in Swiss francs increased by 8.3 percent after adjustment for currency effects.

Sales in the region EMEA (Europe, Middle East, Africa) experienced an increase of 13.3 percent. Visible growth drivers in the Middle East and Africa and the moderate recovery seen in the southern European markets had a positive impact on the region’s development.

 North America recorded a 7.9 percent increase in sales. Construction projects put on hold in recent years are now being carried out.

The region Asia/Pacific witnessed a 12.9 percent increase in sales, breaking the CHF 1 billion barrier for the first time. At 16.0 percent, sales growth remained consistently high in Latin America in 2014. In a demanding business environment, Sika benefited from its strong market presence.

The company reported that Strategy 2018 is delivering results in excess of Sika’s targets and expectations. Its core features are the accelerated development of growth markets, investments in new factories and the launch of new products. A key growth driver in the year under review was the high-margin mortar business, which recorded sales growth of 31 percent. The strategy is implemented by results-driven employees who are ready to take responsibility and whose main priority is the customer, Jenisch stated.

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