Sika AG: HIGH GROWTH DYNAMIC IN THIRD QUARTER WITH SALES INCREASING 10.6%
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Sika AG /
Sika AG: HIGH GROWTH DYNAMIC IN THIRD QUARTER WITH SALES INCREASING 10.6%
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Nine-month results:
* Accelerated sales growth of 6.7% in the first nine months
* Sales 16.4% higher in emerging markets
* EBIT increase of 13.3%
* Above-average 15.3% rise in net profit
In the third quarter, Sika reported local currency growth of 10.6%. Net sales
for the first nine months of the year came to CHF 3,807.7 million, corresponding
to a year-on-year increase of 6.7% in local currencies and 4.7% in Swiss francs.
Sika posted an above-average increase in net profit.
Sika CEO Jan Jenisch: "In the third quarter, our employees achieved the best
quarterly result of the year, with growth in all regions and continually
improving margins. This outstanding performance is broad-based. Our focus on
building up the supply chains in all regions, the launch of innovative products
in all target markets and investments in the emerging markets deliver convincing
results."
On net sales of CHF 1,822.5 million (first nine months of 2012: CHF 1,741.2
million), the region EMEA (Europe, Middle East, Africa) recorded local currency
growth of 4.2% for the first nine months of 2013. Significant growth was
reported in Middle Eastern and African emerging markets as well as in Russia.
Key market Germany also witnessed a moderate increase in infrastructure
building.
With local currency growth at 0.6% for the first nine months of 2013, the region
North America developed below expectations. While the residential real estate
market showed signs of recovery, there were no positive impacts on the remainder
of the construction industry.
The strong growth in the region Latin America continued. Sika posted year-on-
year sales growth of 13.8% in local currencies, witnessing increases across the
entire region and in all target markets. A particularly strong growth was
recorded in Brazil and Argentina.
The region Asia/Pacific saw further above-average growth, with sales up 12.0% in
local currencies. While the region's OECD countries recorded a slight sales
increase, double-digit growth was achieved in countries such as China,
Indonesia, Thailand, Malaysia and Vietnam.
In the first nine months of the year, Sika acquired four companies: Everbuild
(UK), Texsa (India and Mexico), Radmix (Australia) and AkzoNobel's Building
Adhesives business. In 2012 the four acquired businesses generated sales
totaling CHF 349 million on a 12-month basis.
At 52.6%, the gross result for the first nine months matched the year-earlier
level. Sales growth, a solid gross result and selective efficiency improvements
led to an above-average increase in profitability. Sika achieved an EBIT of CHF
390.0 million, representing an increase of 13.3% (first nine months of 2012: CHF
344.1 million). Net profit after taxes was 15.3% higher at CHF 255.9 million
(first nine months of 2012: CHF 222.0 million).
OUTLOOK
Including acquisitions, Sika is anticipating sales growth of 5 to 7% in local
currencies for the full year 2013. Negative currency effects in some key markets
and additional expenditure arising from the acquisitions are expected in the
fourth quarter. In terms of profitability, for 2013 we expect an above-average
increase in operating profit (EBIT) of 10 to 13%.
INCOME STATEMENT
% 1/1/2012 - % 1/1/2013 - Change in %
in CHF mn 9/30/2012 9/30/2013
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Net sales 100.0 3,636.2 100.0 3,807.7 4.7
-------------------------------------------------------------------------------
Material expenses -47.4 -1,725.3 -47.4 -1,804.3
-------------------------------------------------------------------------------
Gross result 52.6 1,910.9 52.6 2,003.4 4.8
-------------------------------------------------------------------------------
Personnel expenses -21.4 -776.6 -20.6 -783.6
-------------------------------------------------------------------------------
Other operating
expenses -18.9 -686.7 -18.9 -719.2
-------------------------------------------------------------------------------
Operating profit
before depreciation 12.3 447.6 13.1 500.6 11.8
-------------------------------------------------------------------------------
Depreciation and
amortization -2.8 -103.5 -2.9 -110.6
-------------------------------------------------------------------------------
Operating profit 9.5 344.1 10.2 390.0 13.3
-------------------------------------------------------------------------------
Interest income 0.1 4.7 0.1 2.5
-------------------------------------------------------------------------------
Interest expenses -0.7 -27.7 -0.6 -23.5
-------------------------------------------------------------------------------
Other financial
income 0.1 2.9 0.1 4.3
-------------------------------------------------------------------------------
Other financial
expenses -0.4 -13.6 -0.5 -18.6
-------------------------------------------------------------------------------
Income from
associated
companies 0.0 0.9 0.0 0.7
-------------------------------------------------------------------------------
Net profit before
taxes 8.6 311.3 9.3 355.4 14.2
-------------------------------------------------------------------------------
Income taxes -2.5 -89.3 -2.6 -99.5
-------------------------------------------------------------------------------
Net profit 6.1 222.0 6.7 255.9 15.3
-------------------------------------------------------------------------------
Profit attributable
to Sika
shareholders 6.1 220.8 6.7 253.8
-------------------------------------------------------------------------------
Profit attributable
to non-controlling
interests 0.0 1.2 0.0 2.1
-------------------------------------------------------------------------------
NET SALES IN THE FIRST NINE MONTHS
1/1/2012 1/1/2013 Change compared to prior year
in CHF mn -9/30/2012(1) -9/30/2013 (+/- in %)
-------------------------------------------------------------------------------
In
CHF In local Currency Acquisition
currencies(2) impact effect
-------------------------------------------------------------------------------
By region
-------------------------------------------------------------------------------
EMEA 1,741.2 1,822.5 4.7 4.2 0.5 3.4
-------------------------------------------------------------------------------
North America 542.2 541.7 -0.1 0.6 -0.7 0.0
-------------------------------------------------------------------------------
Latin America 434.7 462.7 6.5 13.8 -7.3 2.3
-------------------------------------------------------------------------------
Asia/Pacific 670.1 708.0 5.7 12.0 -6.3 0.3
-------------------------------------------------------------------------------
Other
segments and
activities 248.2 272.8 9.9 10.5 -0.6 0.0
-------------------------------------------------------------------------------
Consolidated
net sales 3,636.2 3,807.7 4.7 6.7 -2.0 2.0
-------------------------------------------------------------------------------
Products for
construction
industry 2,916.6 3,058.8 4.9 7.1 -2.2 2.4
-------------------------------------------------------------------------------
Products for
industrial
manufacturing 719.6 748.9 4.1 4.9 -0.8 0.0
-------------------------------------------------------------------------------
(1) Restated due to amendments in segment structure
(2) Including acquisitions
FINANCIAL CALENDAR:
Tuesday, January 14, 2014: Net sales 2013
Tuesday, March 4, 2014: Full-year results 2013; media conference/analyst
presentation
Tuesday, April 15, 2014: Shareholder letter (first quarter 2014)/46th Annual
General Meeting, Lorzensaal, Cham, 4 pm
Tuesday, July 29, 2014: Shareholder letter (Half-year report 2014)
Thursday, October 30, 2014: Shareholder letter (nine months 2014)
CONTACT Dominik Slappnig
SIKA AG Zugerstrasse 50 Corporate Communications &
6341 Baar, Switzerland Investor Relations
www.sika.com
TELEPHONE +41 58 436 68 21
E-MAIL slappnig.dominik(at)ch.sika.com
SIKA AG CORPORATE PROFILE
Sika AG, located in Baar, Switzerland, is a globally active specialty chemicals
company. Sika supplies the building and construction industry as well as
manufacturing industries (automotive, bus, truck, rail, solar and wind power
plants, façades). Sika's product lines feature high-quality concrete admixtures,
specialty mortars, sealants and adhesives, damping and reinforcing materials,
structural strengthening systems, industrial flooring as well as roofing and
waterproofing systems. Worldwide local presence in 80 countries and some 15,200
employees link customers directly to Sika and guarantee the success of all
partners. Sika generated annual sales of CHF 4,829 million in 2012.
The media release and the report can be downloaded from the following links:
Sika Nine Months 2013:
http://hugin.info/100359/R/1739031/583516.pdf
Media Release:
http://hugin.info/100359/R/1739031/583515.pdf
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originality of the information contained therein.
Source: Sika AG via Thomson Reuters ONE
[HUG#1739031]
Unternehmensinformation / Kurzprofil:
Datum: 30.10.2013 - 05:00 Uhr
Sprache: Deutsch
News-ID 310630
Anzahl Zeichen: 12227
contact information:
Town:
Baar
Kategorie:
Business News
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