Sika Releases Financial Report for First Quarter of 2023
Sika ended the first quarter of 2023 with a slight growth. Sales in local currencies and organic growth both increased by 1.2%. Sika posted sales of CHF 2,325.9 million. Compared with the strong prior-year period and due to the stronger Swiss franc, the sales development in CHF amounted to -3.0%.
In local currency terms, the Americas region achieved a 5.1% increase in sales (previous year: 36.2%). A higher level of interest rates weighed on construction activity
Sales in local currencies in the Asia-Pacific region increased by 2.6% (previous year: 18.6%). At the beginning of the first quarter, China continued to be marked by a high level of infections.
In the Global Business segment, Sika achieved growth in local currencies of 15.2% (previous year: 10.4%), growing at a considerably faster pace than the market, due to the demand for new vehicles and supply chain normalization
