SIKA CONTINUES TO EXPAND ITS MARKET SHARE IN THE COVID-19 CRISIS – STRATEGIC TARGETS FOR 2023 CONFIRMED AT CAPITAL MARKETS DAY IN ZURICH
SIKA CONTINUESTO EXPAND ITS MARKET SHARE IN THE COVID-19 CRISIS – STRATEGIC TARGETS FOR 2023 CONFIRMED AT CAPITAL MARKETS DAY IN ZURICH
At the Sika Capital Markets Day 2020 held in Zurich today, CEO Paul Schuler will confirm the strategic targets 2023. Under the motto: "Weathering the storm – emerging from the COVID-19 crisis as a stronger company," members of Group Management and Sika experts explain how important trends such as innovation and digitalization, renovation and sustainability are opening up the opportunity for the company to gain further market share during the crisis.
Paul Schuler, CEO: "Practically all our national subsidiaries have been impacted by the coronavirus pandemic. In many countries, the lockdown phase ended in June, and restrictions have been significantly eased. Momentum is picking up again in the construction sector. Our local management structure has enabled us to adapt swiftly worldwide to changing market conditions. Thanks to our rapid implementation speed and our proximity to our customers, we have been able to seize business opportunities and gain additional market share."
During the Capital Markets Day, information will be provided on the measures with which Sika intends to continue its sustainable growth in the future, despite the coronavirus crisis. Breakout sessions will focus on the key success factors of the business model; namely, the focus on innovation, digitalization and sustainability, the opportunities presented by worldwide infrastructure programs, and the increased demand for renovation, as well as the strengths of the business in the distribution channel.
Paul Schuler also confirms the strategic targets 2023. The organization will continue to be aligned for sustainable, long-term success and profitable growth. By targeting six strategic pillars – market penetration, innovation, operational efficiency, acquisitions, strong corporate values, and sustainability –, Sika is seeking to grow by 6%–8% a year in local currencies until 2023. It is aiming for a higher EBIT margin of 15%–18% from 2021 onwards. Projects in the areas of operations, logistics, procurement, and product formulation should result in an annual improvement in operating costs equivalent to 0.5% of sales. Sika's overriding sustainability goal is to reduce CO2 emissions per ton sold by 12% until 2023. In addition, the company aims to make all product innovations even more sustainable while at the same time increasing performance.
For the second half of the year, Sika is expecting more favourable market conditions. With the anticipated improvement in sales volumes, the company expects an over-proportional EBIT increase for the second half of the year.
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SIKA CORPORATE PROFILE
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 100 countries around the world and manufactures in over 300 factories. Its 25,000 employees generated annual sales of CHF 8.1 billion in 2019. At the end of 2019 Sika won the Swiss Technology Award for a groundbreaking new adhesive technology.
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