Sika recently published its annual financial report which highlights its achievements and growth in 2018. In it the company mentioned its 13.6 percent sales increase, its 5.9 percent net profit increase, and the company’s operating free cash flow, which increased by 3.3 percent.
The company attributes several key points to its successful year, some of which include:
- Its investment in new 11 factories;
- Four acquisitions;
- 85 new patents; and
- One new national subsidiary.
All of which Sika states will help the company succeed in the future.
“We are committed to continuing the Sika success story, to generating sustainable growth in value, and to enhancing Sika’s excellent reputation among customers, shareholders and business partners,” Paul Schuler, chief executive officer, said.
Sika contributes to the automotive community through its vehicle assembly. This can mostly be seen though its structural bonding, direct glazing, acoustic systems, and reinforcing systems. Sika’s specialty in elastic bonding enables the company to produce more light-weight vehicle parts, according to the report.
Sika has received several awards throughout the year that the company believes has aided in its success and has enabled its team to continue providing for automotive needs.
“Sika Automotive received the Frost & Sullivan Product leadership award 2018 in North America and in Europe for its best in class range of automotive adhesives. New elastic bonding products were developed to meet the demands of the automotive OEM and their tier 1 suppliers,” a section of the report reads.
Sika has seen growth on a global level as well. The company reported an 11 percent growth in the Americas and a 5.5 percent growth in the Asia/Pacific regions. Meanwhile, its global business increased by 29.2 percent within the year, according to its financial report.
To view the full report, click here.