Sika reported sales growth of 11.7 percent in the third quarter. For the first nine months of the business year, sales increased by 15.8 percent. All regions contributed to the sales growth, according to officials.
North America posted an 8.5-percent increase in sales.
“Projects delayed at the beginning of the year due to the harsh winter are now under construction and investments are being made in infrastructure projects and commercial buildings,” according to the company’s statement.
Sales in the Europe, Middle East and Africa region (EMEA) saw a 17.4-percent increase in the first nine months of the year.
The Asia/Pacific region grew by 15.6 percent, while China, Japan, Southeast Asia and Australia showed double‐digit growth. Sales growth remained “consistently high” in Latin America at 17.1 percent, according to officials.
“Substantial devaluations of a number of local currencies led to high exchange rate losses,” officials note in the company statement.
At 53.0 percent, the gross result for the first nine months of the year was slightly higher than the same timeframe in 2013 when it was 52.6 percent.
Sika is projecting 9 to 11 percent sales growth in local currencies for the year.
“We achieved further strong growth in the third quarter and, despite challenging market conditions worldwide, increased sales by over 11 percent and posted an above average rise in net profit. We are on track to realize the targets set under Strategy 2018,” says Jan Jenisch, Sika’s CEO.