Sika published its half-year financial report which highlights its achievements and growth during its first six months of 2019. In it the company mentioned its 9.6% sales increase, as well as growth in all of its regions.
Sika provides products for auto glass businesses such as, structural bonding, direct glazing, acoustic systems and reinforcing systems.
The company attributes several key points to its success in the first half of the year, some of which include:
- Opening three new factories;
- Concluding its Parex acquisition; and
- Increasing its earnings before interest and taxes (EBIT) by 8.3 %.
“We are well-positioned in a commercially challenging environment, and achieved a strong sales growth of 9.6% in the first half of 2019. We are enjoying a significant boost to growth thanks to the Parex acquisition, and are well on track to exceed the sales mark of 8.225 billion USD. Our collaboration during the integration process is working outstandingly, and we are exploiting our synergy potential in procurement, logistics, and production. Our joint distribution and cross-selling activities are already revealing the strength of our combined market presence,” said Paul Schuler, CEO.
According to the report, the company made the largest acquisition in its history with the takeover of Parex, which produces facade mortar, technical mortar, tile adhesives, and waterproofing systems.
The company’s growth in the Americas region grew by 11.4%. Meanwhile, Sika reported a 15.6% increase in its Asia/Pacific region.
“Growth has been accelerating in North America in spite of the ongoing shortage of specialist labor in the construction sector. Latin America recorded high growth with above-average business development in Brazil, Colombia, and Peru. In Mexico, the repercussions of the change in government were tangible in the implementation of infrastructure projects,” a section of the report reads.