Sika Q1 Report 2024

Double-digit growth and market share gains in all regions

All regions performed well and contributed to Sika’s further growth and the expansion of business activity. Sika achieved further organic growth in the first quarter and expanded its market share.

In the first three months of 2024, sales in the EMEA region (Europe, Middle East, Africa) increased by 22.4% in local currencies (previous year: –4.7%). The positive trend toward more infrastructure and commercial construction projects in the EMEA region continued in the first quarter of the current financial year. Sika also achieved growth in the distribution business. At the local level, the countries in the Middle East and Africa, as well as in Southern and Eastern Europe generated further growth. Business activity remains subdued in Germany and Austria. 

Highlights

▪ High, double-digit growth of +20.1% in local currencies

▪ Q1 sales of CHF 2,648.0 million (+13.8% in CHF)

▪ Acquisition effect of 19.9%

▪ Negative currency effect of –6.3%

▪ Acquisition of Kwik Bond in the USA

Outlook for fiscal 2024 confirmed

▪ Sales growth in local currencies of 6–9%

▪ Over-proportional increase in EBITDA

▪ Confirmation of 2028 strategic targets for sustainable, profitable growth