Sika Full-Year Report 2023

 

Sika managed to expand its material margin significantly taking a decisive step on the road to margin recovery. Profit at EBIT level was influenced by various one-time effects.

Sika maintained its profitable growth trajectory in 2023 even in a challenging economic environment, generating record sales despite high rates of inflation, rising interest rates, and strong currency depreciation. The total sales figure amounted to CHF 11,238.6 million, a rise of 7.1% in CHF. Almost all currencies lost considerable value against the Swiss franc, which led to a negative currency effect of -7.4% for the year as a whole. In local currencies, the result was double-digit growth of 14.5%.

Sika managed to expand its material margin significantly to 53.6% in 2023 (2022: 49.4%), taking a decisive step on the road to margin recovery. Profit at EBIT level was influenced by various one-time effects. In the prior-year period, Sika recorded an extraordinary book profit of CHF 166.5 million from the sale of its European industrial coating business. At the same time, one-off expenses of CHF 78.3 million were incurred in 2022 in connection with the MBCC acquisition. In 2023, Sika booked CHF 131.5 million of acquisition and integration costs relating to this acquisition. When adjusted for these effects, Sika expanded its EBIT margin significantly to 15.0% (2022: 14.2%). Excluding the one-time effects, EBIT increased to CHF 1,680.6 million in the year under review (2022: CHF 1,491.5 million). When one- time effects are included, EBIT amounted to CHF 1,549.1 million (2022: CHF 1,579.7 million).