Sika increased sales in 2021

Despite the pandemic and supply bottlenecks, the SIka chemical company from Baar succeeded in increasing sales by 17.1%, to CHF 9.24 billion.

In a statement on Tuesday, 11 January 2021, Sika CEO Thomas Hasler says that 2021 has been a challenging year for the company, but also a very successful one. According to the announcement, sales reached a new record of CHF 9.24 billion. Compared to the equally successful previous year, this represents an increase of 17.1%. Sika had already reported growth in 2020, despite the pandemic. At that time, sales rose by 3.4% compared to the previous year.

The Sika company in Baar wants to grow by 6 to 8% annually up to 2023

This increased growth in a crisis year shows that the business model of the chemical company is robust, adds Thomas Hasler. In 2021 alone, the company, which is based in Baar in the canton of Zug, made seven acquisitions, including, among others, in Russia, the USA, Brazil and China. The strongest growth market was the American countries, where sales rose by 21%. The main drivers here were in particular Latin American countries such as Mexico, Brazil and Chile. Sales growth was 16.1% in Europe, the Middle East and Africa.

The company now expects an EBIT margin of 15%, with an EBIT margin of up to 18% targeted for 2022. The previous corporate strategy will therefore continue to be followed. This envisages average annual growth of 6 to 8% up to 2023.